(MENAFN) Europe is back in deflation, and business confidence is weak, therefore last thing the members of the bloc need is another economic hurdle, but the refugee issue could deliver one if it isn't dealt with soon.
In accordance, to slow the flood of migrants, EU nations are restoring border controls in a region used to traveling and trading freely, but if they return in full, the cost to Europe could be as much as USD20 billion per year.
Additionally, nearly 1.2 million people applied for asylum in the European Union throughout the previous year, double the number in 2014, not to mention the staggering influx shows no signs of narrowing.
Eight countries have reintroduced border controls over the last six months, threatening to blow apart the region's Schengen system of border-free travel and kill a core EU standard of freedom of movement.
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