The total population is projected to peak in 2006, according to the medium variant projection of the National Institute of Population and Society Security Research. It has also been pointed out that the total population is likely to start decreasing earlier than projected. BIS Review 6/2006  3  It is assumed that the decline in population will significantly affect the Japanese economy.
The SSM demonstrates how European and national authorities can complement each other and work together efficiently. What the banking union also shows is that Europe is capable of reform today. With that in mind, I do not believe that we need a new Europe; instead, we need to concentrate on improving the one we already have. 5.