Economic Impacts on the European Union

1
Economic Impacts on the European Union

• Members
• Evelyn Newey
• Loni Russell
• Jessica Swendiman

2
The EU Economic Profile

• The EU Economic Profile Population 457 million
• GDP 13.31 trillion
• GDP growth rate 1.7
• GDP per capita 28,100
• GDP by sector
• Agriculture 2.2
• Industry 27.3
• Services 70.5
• Inflation rate 2.2

3
Tourism

• Winter sports in Alps - snow depth is expected to
  decrease 30 by 2020
• more frequent and more intense droughts likely to
  discourage Mediterranean holidays
• Southern Europeans flow northward to cooler climes

4
Health Care

• Using Austria, France, Switzerland as examples
• 40,000 deaths/yr or 6 attributable to air
  pollution
• Estimated lost production or income due to
  premature death 6.5 billion (1999)
• Production losses due to restricted activity
  days could add about 1 billion to this estimate

5
Fisheries and Wildlife

• Predicted rise of 5C across UK/Europe during the
  next 50 years.
• Belgium, Germany, Norway, Iceland and Denmark
  scientists will assess if this will increase the
  growth of blue-green algae, many species of which
  are toxic and can affect fish, snails and other
  lake dwellers.
• Affects humans and livestock drinking the toxic
  water

6
Infrastructure

• Cooling systems will be needed in hospitals,
  schools and homes
• Cost of property insurance will increase, via the
  amount of compensation payments
• Property damage from windstorms in the UK
  expected to increase by 15 by 2070.

7
Eastern Europe

• August floods of 2005, one of the worst in the
  last 100 years taking 100 lives, with economic
  losses of 15-20 billion euros
• With the fragile economies of the eastern
  European states, its infrastructure, welfare
  system and economy, cannot afford these events

8
Fuel and Energy

• High temperatures can lead to the shut down of
  power plants due to overheating
• Economic losses from climate related events have
  increased from 5-11 billion USD in the last 20
  years

The Smart is on its way to the US
9
Agriculture

• If agricultural productivity was drastically
  reduced by climate change, the worst-case-scenario
  cost of living would rise by 1-2 on average in
  the EU (medium confidence)
• The EUs CAP program guarantees subsidies to
  farmers

http//www.foreignaffairs.org/19971101facomment380
7/thomas-c-schelling/the-cost-of-combating-global-
warming.html http//news.bbc.co.uk/furniture/in_de
pth/europe/2001/inside_europe/budget/pie_chart2.gi
f
10
Education

• The Europa Diary (2.95 million USD)
• The specific aim of the Europa Diary is to
  encourage young people in the EU to become more
  aware as consumers in all respects, including
  climate change

11
References

• (healthcare) http//ec.europa.eu/economy_finance/p
  ublications/european_economy/2004/ee604ch6_en.pdf
• (tourism) http//www.physorg.com/news5002.html
• (fisheries/wildlife) http//www.physorg.com/news10
  004.html
• http//www.insurancejournal.com/magazines/southcen
  tral/2002/09/16/features/23361.htm
• (insurance) http//www.medicalnewstoday.com/medica
  lnews.php?newsid27157
• (European Environmental Agency)
  http//reports.eea.europa.edu/climate