Europe is a very diverse continent with many cultures and languages. This means that there are a great variety of ideas, attitudes and products and services available on the market. Since the continental economy is not based on a few simple things, the varying demographics actually make the overall market safer and more resilient.
I think that the current demographics of Europe will hurt its economy. With the demographics of Europe become more and more diverse, I think there will be a negative effect to the economy due to a lot of groups of people not being able to get along and cooperate for business.
Like all other major economies, Europe depends on a fresh crop of workers to essentially pay for the retirement of the generations which came before it. However, with declining birth rates, there are not enough workers in the European economy to generate the kind of tax base necessary to support Europe's welfare programs. Immigration will have to compensate for the falling birth rates.
I think the demographics of Europe will hurt its economy. The decisions that have been made in the past have already shown that its economy is already in bad shape. They could rebuild and improve their economy but it seems that they are making all the wrong decisions in doing so.
I do not believe demographics will impact the economy. They are what they are and changing them is bound to create social and cultural problems. Demographics are just statistics and facts, they don't directly impact the economy. They might change the ways advertisers operate, but that is just the machine that keeps capitalism afloat.