Parts of Europe at Risk Of an Economic Spiral

Economies that escaped from Communism more than three decades ago are at risk of falling into a downward spiral if older voters and political leaders prevent the changes needed to offset the hit to growth from aging populations, the European Bank for Reconstruction and Development warned.

- BY PAUL HANNON

The graying of the population is a headwind for economic growth and a driver of rising government debts worldwide, but is particularly acute in parts of Europe that were led by Communist parties until the late 1980s and early 1990s.