THERE IS STILL A TIME OF AVOIDING THE CENTRAL AMERICAN SCENARIO - CRIME, DRUGS, GUNS, BARS AND POVERTY

The first wave of cost-cutting meant the departure of manufacturing in search of cheap labour and investment incentives.

The second wave is automation and robotization. It affects not only industry but also services. The consequence will be more layoffs and also tax shortfalls.

It was believed that services would replace the departing industry. This was a false expectation. In the regions where industry has left, services have not made up for the revenue shortfalls. People are leaving and regions are declining.

In the second wave, the same scenario awaits the entire states. Products will become a commodity like oil and gas. How will the states finance their imports?

Today, it is again believed that automation will bring new jobs. But with AI around the corner, the reality will be different.

There is only one logical solution - to start revitalising the regions - to introduce a complementary currency that will ensure most resources stay in the regions, to accelerate the development of robots and automated systems that will gradually take over the production of basic goods and the provision of services in each region. The companies will be software-driven and owned directly by the EU. These EU firms will compete in the market with existing firms. With such a strong regional economy, an unconditional income for all can then be realistically envisaged. In fact, it will become a necessity.