EUROPA - Cradle of the Industrial Revolution in the 19th century, industrial Europe has gradually been caught up and then taken over by other geographic areas - yesterday it was North America, tomorrow it will be Asia. Is this an inevitable development?... Should we fear it, resign ourselves to it or fight it? What should we do so that Europe's industrial ambition comes to full fruition? In the light of past major successes the recipe seems to be quite simple: we have to choose the appropriate industrial sectors; we have to stop comparing competitiveness and industrial policy in the ilk of the USA; we have to strengthen national industrial policy coordination and put an end to protectionist behavior on the part of the Member States; develop coordination work between the Commission and the States with major programs and by introducing poles of technological and industrial excellence that bring together public authorities, industrial players, research centres, as well as the universities; we must step up the supervision of standards, industrial property rights, the supervision of key technologies; finally we need to develop an intelligent, coordinated, reciprocal policy in extra-European international trade. Hence in an extremely pragmatic manner and in the way Jean Monnet and Robert Schuman would have done, Europe's industrial ambition will be accomplished thanks to specific structuring action.
Access Investments-Building Awareness - European Union-ROMANIA
Friday, January 20, 2012
Will Europe's industrial ambition be accomplished thanks to specific structuring action?
EUROPA - Cradle of the Industrial Revolution in the 19th century, industrial Europe has gradually been caught up and then taken over by other geographic areas - yesterday it was North America, tomorrow it will be Asia. Is this an inevitable development?... Should we fear it, resign ourselves to it or fight it? What should we do so that Europe's industrial ambition comes to full fruition? In the light of past major successes the recipe seems to be quite simple: we have to choose the appropriate industrial sectors; we have to stop comparing competitiveness and industrial policy in the ilk of the USA; we have to strengthen national industrial policy coordination and put an end to protectionist behavior on the part of the Member States; develop coordination work between the Commission and the States with major programs and by introducing poles of technological and industrial excellence that bring together public authorities, industrial players, research centres, as well as the universities; we must step up the supervision of standards, industrial property rights, the supervision of key technologies; finally we need to develop an intelligent, coordinated, reciprocal policy in extra-European international trade. Hence in an extremely pragmatic manner and in the way Jean Monnet and Robert Schuman would have done, Europe's industrial ambition will be accomplished thanks to specific structuring action.
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More on those Greek debt talks. The IIF, which represents the private creditors, says talks will continue on Friday, but progress was made today.
20.39 Austria has issued 50-year bonds for the first time in its history, the federal financing agency has said. The offering was placed at €2bn.
20.36 Andrew Lilico, an economist with Europe Economics, has written a great blog for our website, entitled Capitalism is moral when lenders bear responsibility
In ways it is a shame, but then again, to each their own, and the one that finds contentment first wins.
When I was growing up, it was quite common in the County (state of Missouri, basically the exact middle of the US) that I was birthed, for people to live and die, in that county and never leave it, ever. To my knowledge, my grandmother from the time I was born, till she died, never left the county, except to go to a little city called Springfield Mo. not once do I remember that her going any other place.
She had her farm, her cows. those things which she loved, she had no need.
In theory there are open borders across the EU under the Schengen Agreement so no passports or visas required for EU citiizens. UK opted out of Schengen so Borders Agency posts at ferry ports and airports.
Problems arise when criminal offences occur because the accused uses the European Human Rights Act to avoid deportation: - "because he has a pet cat"; "because he has 4 children by 2 or more different mothers, neither of whom he lives with" are 2 defences used under "Right to a Family Life".
The original law was drafted after WWII to protect stateless persons but the provisions have been abused (lawyers and politicians agree that flagrant breaches occur) in recent times as the examples show. UK is a signatory to the EHR Act so we must grin and bear it.
Berlin said growth this year was likely to be 0.7pc, lower than a previous estimate of 1pc, before rebounding in 2013 to 1.6pc.
Philipp Roesler, Germany's economy minister, insisted: "There can be no talk of recession."
He said the German economy probably shrank by 0.3pc in the fourth quarter of 2011, but he expected growth of 0.1pc in the first three months of 2012, thereby escaping a technical recession of two successive quarters of negative growth.
"Germany is, and remains, an anchor for stability and growth in Europe. After two extraordinarily strong growth years, the German economy is still on robust form. However, due to a difficult external environment, we are expecting a temporary dip in growth in the first half of the year," he said.
The world economy is struggling to recover from a crisis caused by inadequately regulated financial activity. Governments are struggling to deal with deficits that are too high and growth that is too low. And, long before the credit crunch, people in the middle were struggling with squeezed living standards.
These are not isolated phenomena but caused by rules that encourage wealth creation focused on short-term returns, fail to reward productive behaviour and skew distribution towards the top [...]
Short-termism seems hard wired in to our economy, with small companies unable to access the capital they need. We are looking at significant reform of our pension industry and proposals for a National Investment Bank for small business.
Borrowing costs have ticked up across Europe ahead of the sale (although costs have fallen significantly in the past week, despite Standard and Poor's mass downgrades last Friday).
Yields on Spanish ten year bonds ticked up 3 basis points to 5.105pc in early morning trade, while Italian bonds moved up one basis point to 6.392pc and French bonds traded flat at 3.121pc
The President of the Euro Summit shall be appointed by the Heads of State or Government of the Contracting Parties whose currency is the euro by simple majority at the same time the European Council elects its President and for the same term of office.
The paper outlines some of the fiendishly complicated legal quibbles over how exisiting EU treaty rules on policing budget deficits can be beefed up.
In the language of everday life, the split is between a group led by France and another faction led by Germany over how "automatically" budget discipline is imposed. France is winning in terms of Article 7, which will still need the support of a majority of eurozone countries to put a country into "excessive deficit procedure".
18.15 Bundesbank chief Jens Weidmann has said that unlimited ECB bond buying would violate EU treaty.
"The global recovery is threatened by the growing tensions in the euro area," the Fund said, according to a leaked draft of its World Economic Outlook which is due to be published next week.
Global GDP growth is to be cut from 4pc to 3.3pc, with drastic revisions for an arc of countries in Southern Europe.
Italy's economy will contract by 2.2pc and Spain's by 1.7pc as fiscal austerity measures bite harder and banks curtail lending, playing havoc with debt dynamics.
The eurozone as a whole will shrink by 0.5pc, down from growth of 1.1pc in the Fund's last forecast in September, an even grimmer outlook for the region than growth revisions released by the World Bank earlier this week.
The new figures are an admission that the IMF has been caught badly off guard by fast-moving events. It appears to misjudged the gravity of the crisis in Southern Europe. The new forecasts explain why the Fund is requesting a $600bn (£388bn) boost to its firepower.
Britain will muddle through with growth of 0.6pc, marginally below the 0.7pc forecast of the Office for Budget Responsibility. It will rebound to 2pc next year."
I would like to believe this is correct, and I hope it is, but there is a good reason to doubt it.
As Government spending has leveled off, record exports have been taking up the slack in the GDP, but that depends on export markets being healthy. If so much contraction is going to take place in Europe, that will affect UK exports, and if European contraction causes slow growth in China, that will also affect UK exports.
No surprise that the IMF et al predicate any improvement in circumstances being a result of growth.
What growth?
As a whole we need to plan for zero growth and learn to live with it. So the authorities are only behind the curve - as normal.
What informed people need to do is stay in cash, be mobile, be out of debt (all they are going to do is print untold amounts of money - its the only option) and avoid the inevitable hyperinflation that is all our futures.
Apart from the Telegraph, read alternative media - nothing else will be near the truth.
And the truth is, massive currency printing, massive hyperinflation, value of all assets to degrade enormously. Soon
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