The Financial Times from last week uses a nice metaphor by putting the different countries on playing cards as the reader could choose his cards. Critique about the countries growth forecast of the four biggest countries in the euro zone (Germany, France, Italy and Spain) is all over. According to the Commission the forecasts are too optimistic. The Financial Times describes the movements in the euro zone always quiet objective and tries to concentrate on real facts. But are not public debts wiping out the benefits of roughly 20 years of fiscal prudence in the EU? Is the Greek problematic not just a symbol for still ongoing trouble between the members of the EU?
In comparison the German Süddeutsche Zeitung is critical about the approach of the Euro zone countries. The newspaper describes the situation as crucial and stressed. A serious scenario, stimulated from the “Greek issue”, is presented and the future of Europe as an economic base and currency area is questioned. Do Germany and other EU countries have to help? When do they have to help? How much? All these questions are not easy to answer. There are no rules and regulations for such scenarios but leaders, countries and commissions are confronted and have to take decisions.
I think all member countries still focus too much on their own aims. The “way of thinking” and the appearance to global competitors are still very individual. Did you ever see Nicolas Sarkozy speaking about great BMW and Mercedes from Germany? Did you ever see Angela Merkel standing behind Gordon Browns and facing the Americans? Yes, but not by far as Europe should appear. Europe has the “ingredients” to create a sensational competitor, a place to be and to live and therefore an outstanding business location.
If the EU wants to “play its hand” and play any important role between the “big players” as US, China or India, Europe has to play the game and try to appear as a Union. Nevertheless cultural background and traditions can be kept. I think that it is not easy to keep the balance between the two poles and all the interests but now with the Greek problematic Europe faces just an example that will show the connection, reliability and trust between the European countries.
In my opinion steadily raising public debts and the whole system of governmental deb is not the correct behavior in the 21.Century. Countries like Italy or France do not leave any safety margin in case economic development does not turn out that “brilliant” as projected.
Countries, governments and people have to take responsibility and have to start creating a future of more harmony and global relation. Also the question of “what comes after the globalization?” is something to think about during taking important decisions.
Europe,….. this is just the beginning…..
- Financial Times Thursday March 18 2010
Brussels warns forecasts too optimistic
- The Economist March 20th – 26th 2010
- Süddeutsche Zeitung Monday March 22 2010
Warten auf die Katharsis
Very good indeed. A professional effort and I like your comments on the FT metaphor. Well done. 7.5/10
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