In a press-release that got far to little coverage last week, on the 10 July, the Max Planck Institute in Germany announced a demographic research paper demonstrating that there had been a Europe-wide fall in fertility during and as a result of the 'great depression' in Europe. http://www.demogr.mpg.de/en/news_press/press_releases_1916/economic_crisis_lowers_birth_rates_3250.htm
(I leave you to study the stats and thumb through the graphs)
Perhaps this should come as no surprise. Sensible people are going to try an put off having children until they have money in their pockets. With European joblessness hitting 12.5% in May 2013, there has never been a worse time to procreate.
Yet here is the thing, this high unemployment figure would not be so bad had Europe been set marching on the beat of the austerity drum. A falling population means declining markets, and in fact more austerity because it is more difficult for the next generation of tax payers to provide pensions for the elderly.
Austerity isn't working - how long will it take to get that message across?