As reported by businessinsider, a collapse of Europe's Schengen passport-free travel zone could cost the European Union up to 1.4 trillion euros over the next decade, a study by Germany's Bertelsmann Foundation showed on Monday.

The study estimated that under a worst case scenario, in which the reintroduction of controls at EU borders pushed import prices up three percent, the costs to the bloc's largest economy Germany could be as much as 235 billion euros between 2016 and 2025, and those to France up to 244 billion.

At a minimum, with import prices rising one percent, the study showed that a breakdown of Schengen would cost the EU roughly 470 billion euros over the next decade.

The cost would climb to 1.4 trillion euros, or roughly 10 percent of annual gross domestic product (GDP) in the 28-member EU bloc, under the more dire scenario.

"If border controls are reinstated within Europe, already weak growth will come under additional pressure," said Aart De Geus, president of Bertelsmann.

bbabo.Net