How the boomers screwed Europe

Once upon a time, inequality in Europe was largely horizontal. The rich western half drove BMWs and holidayed abroad, while the poorer east rewired its own appliances and queued for bread. But three decades of catch-up growth in erstwhile communist countries has put paid to jokes about Romanian cars whose top speed was “downhill”. These days inequality in Europe has a vertical dimension—one that goes up and down family trees. Youngsters unable to move out of their parents’ spare room due to sky-high house prices wonder if they will ever enjoy the lifestyle as adults which they knew as kids....