The document discusses the impact of quantitative easing on insurers and pension plans in Europe. It highlights how the European Central Bank's asset purchase programs have led to the insolvency of life insurers and defined benefit pension plans. The author warns that these problems threaten not only the European economy but also the careers of institutional investors. The article suggests that Europe cannot afford policy mistakes like America and Canada, where social dissolution is less likely due to a larger margin for error. The text references the borderless Schengen area and the European Commission president's recent comments about the single currency in relation to the Schengen agreement's failure.