THE BOTTOM LINE
·
SUBSCRIBERS

European democracy needs its middle class back

It’s time for an ambitious three-pronged plan to strengthen the backbone of stable, prosperous societies

    • A new generation of European sovereign bonds, modelled on the NextGenerationEU pandemic-recovery fund, but longer-term and deployed more strategically, could directly benefit the middle class.
    • A new generation of European sovereign bonds, modelled on the NextGenerationEU pandemic-recovery fund, but longer-term and deployed more strategically, could directly benefit the middle class. PHOTO: REUTERS
    Published Tue, Jul 22, 2025 · 07:00 AM

    THE middle class has long been the backbone of democratic stability, fuelling economic growth, affirming institutional legitimacy and transmitting civic values. But in recent decades, the middle class has been disintegrating across the West.

    Many citizens believe that hard work no longer pays off, social mobility is a pipe dream, and governing “elites” are detached from the needs of ordinary people.

    From France to Britain to the American Rust Belt, the symptoms are the same: regions gutted of the industries that once sustained them, livelihoods upended by technological shifts, and families working more for less.

    Share with us your feedback on BT's products and services