It seems apart from the plunging price of oil the FT seems replete instead with warning about democracy. I intensely dislike and distrust nationalism (apathy/dislike for the "Other") while I condone patriotism (love of one's Own).
However I don't think Europe is going to slip towards fascism anytime soon in the forseeable future. I don't even think it's viable or tenable to deport illegal immigrants however there has to be a control on future entries and manage the process.
Immigration has to be revamped that the developed countries of the world (West + Japan) need to synchronize their borders. As an example how many Americans would really want to move to Japan and settle there, or vice versa. I once read an Israeli economies write in the International Herald Tribune (essentially the NY Times) that unless incomes were 3x greater most populations would not immigrate.
As borders become more fluid it makes sense to plan for the eventuality of a more federated and united world. We are leaving the age of a Single Hegemon (with mixed results) towards a more equitable system. Transnational cultural groupings will take on much more significance than before however we must also begin to have a much fairer system.
The West (& Japan) have aging populations and overloaded pensions as a upcoming crisis. The answer is not more immigrants (because they themselves will ultimately age) but for pensioners to start migrating Southward (to found their own OAP colonies so to speak). Desirable locations around the world can become huge hubs for aging baby boomers where they will also be able to take advantage of purchasing power parity. Tourism and other industries would be built on the back of that (as families come to visit etc) and it would create huge employment opportunities in the South (for carers, companions etc).
Other than that it would also have an excellent environment impact as these compact colonies would essentially transfer from high emission producing regions to lower emission producing regions.
This is the migration that needs to happen not the one that's currently occurring where the brain drain depletes the middle class in the Rest and squeezes the native middle class in the West. The first retirement colony will then start a wave (I know they are trying that in the Phillipines & Japan).
In this manner the West & Japan can ease into smaller more amalgamated populations (probably followed by countries that are becoming wealthier and aging) while also becoming much more capital intensive (and preserving high wages, low employment). The Rest will benefit from the spin-off of compacting Prosperity Sphere.
There is nothing wrong whatsoever with declining populations as long as cultural coherency remains in tact. The mistake right now in the West is that natives have a low fertility rate coupled with immigration creates a huge amount of societal imbalance. In a globalising world high wages can eventually be found everywhere (and even where wages are not high PPP can ensure that it's more lucrative staying back rather than immigrating).
At that point support for the far-right will begin to precipitously decline as citizens and individuals begin to use globalisation to their advantage.
By now, the Philippines should have retirement villages for Americans because English is widely spoken. Instead, Americans are going to Spanish-speaking Mexico.
US Census 2010 estimates approximately 2.5 million citizens and legal permanent residents of Philippine ancestry.
One nongovernment survey claims 200,000 Fil-Am senior citizens would really like to retire in the Philippines, but they won’t.
Unlike Social Security, which you can take anywhere, Medicare stops at the border. Fil-Ams are afraid to return home without medical insurance. Another survey calculates that more than one million American seniors have homes in Mexico. The popularity of Mexico as a retirement destination is because you can simply cross the border back to the US for medical treatment.