Many of the things that Europeans have taken for granted are becoming unaffordable. By Prof Weber’s estimation, even Germany is burdened by unfunded liabilities – in terms of the pension, health care and other costs associated with an ageing population – of well in excess of 200 per cent of GDP. In Britain, these same long-term calls on the public finances are being assessed independently of the Treasury for the first time by the new Office for Budget Responsibility. It seems unlikely that Robert Chote, the OBR chairman, will reach any less alarming a conclusion, assuming he casts his net as widely as Prof Weber has.