Does Europe need to take in more Immigrants?

Does Europe need to take in more Immigrants?

BBC News recently mentioned that European Ministers were discussing a radical suggestion that EU needs to admit more than 75 million immigrants to cope with labour and skills shortages, over the next 50 years. The skills in demand are mainly in the high technology area.
One can imagine the effect of such large-scale immigration on the EU society. The social fabric can change drastically - on the positive side one can anticipate a mixing of races, cross fertilization of ideas and a better respect for different cultures of the world
If you indulge in thinking on a larger scale beyond the European Union, one could envision a world with a handful of boundaries, few currencies and virtually free flow of information. People will not have to deal with visas, currency conversion, immigration checks etc.Essentially, it would be possible to pursue any interest at any place in the world.