New Year Already Tough for EU

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Cryptoman
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Re: Hard decisions await in 2013...
Cryptoman   1/21/2013 2:09:19 PM
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@Jennifer

There is also the complication of having countries that are in the EU but are not within the Eurozone such as the United Kingdom. UK still uses the British Pound as its currency and is among the top 3 influencers in the EU. I think UK has the best of both worlds by sticking to its powerful currency and yet keeping a strong foothold within the EU.

 

Jennifer Baljko
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Re: Hard decisions await in 2013...
Jennifer Baljko   1/21/2013 12:37:50 PM
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@cryptoman - like Bolaji said, I think the EU is making hard decisions which are trickling down to individual countries. One problem I see, however, is that while the region works on a single currency and has some centralized government organization, it's still a collection of individual nation states who set their own tax-levying policies and adminster their own health, school, and social programs. And, while stronger EU nations dictate many of the rules, it's not a federal system.

Jennifer Baljko
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Re: Just Hope
Jennifer Baljko   1/21/2013 12:31:18 PM
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@Wale - Right... the same is true with US companies like Blockbuster - who rents movies anymore? Certainly something to consider - some business models have run their course and even if they revamp operations may no longer be relevant in today's world.

Jennifer Baljko
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Re: Re : New Year Already Tough for EU
Jennifer Baljko   1/21/2013 12:29:09 PM
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tirlapur - knocking wood that 2013 is a better year. And which markets are you speaking of in terms of "scaling to new heights." I think similar economic softness is in the headlines in the mature, western markets.. and the US is still dealing with a trade deficit and growing national debt. Emerging markets are different.

Jennifer Baljko
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Re: Country differences
Jennifer Baljko   1/21/2013 12:18:51 PM
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Bolaji - yes, some countries (mostly northern European countries) are faring better than those in the south, as can be seen in this chart (http://epp.eurostat.ec.europa.eu/cache/ITY_PUBLIC/4-14012013-AP/EN/4-14012013-AP-EN.PDF). But Europe, like the US., is still recovering from a deep crisis where austerity measures haven't quite converted to positive growth, confidence in consumer spending or sustainable job creation.

mfbertozzi
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Re: Hard decisions await in 2013...
mfbertozzi   1/20/2013 11:55:36 AM
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@tirlapur: analysts from the finance sector, have demonstrated that crisis has started, initially, exactly from US a few years ago; maybe we will assist to a new cycle, I mean, US right now are moving away and recovering?

mfbertozzi
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Re: Hard decisions await in 2013...
mfbertozzi   1/20/2013 11:49:12 AM
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@Cryptoman: speaking for myself, I think you are right; after all, I am positive, sooner or later any local country within EU will act with a common and shared plan and way to think; it takes time, maybe a few years.

tirlapur
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Re: Hard decisions await in 2013...
tirlapur   1/18/2013 5:37:35 AM
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I think before we see any improvements in Europe, tough decisions on Eurozone and the debt of countries such as Greece need to be made.

@Cryptoman, I agree with you. But other countries can take lessons from what happened in europe. In Europe they have social programs that have been granted to an aging population, and the proper money hasn't been set aside to pay for those and the bills have come due. The United States is just entering that right now and they need to take steps to avoid Europe kind of situation.

Bolaji Ojo
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Re: Hard decisions await in 2013...
Bolaji Ojo   1/17/2013 6:02:08 PM
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I think European Union leaders are capable of taking the tough decisions that will power growth in the region. There are a lot of cobwebs to sweep aside but in 2012 they finally took some tough decisions. They'll do the same this year although it may take a while It isn't easy bringing all the odd parts into harmonious action.

Cryptoman
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Hard decisions await in 2013...
Cryptoman   1/17/2013 10:30:11 AM
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I think before we see any improvements in Europe, tough decisions on Eurozone and the debt of countries such as Greece need to be made. Europe is fighting a battle to avoid economical disintegration at the moment. I think an important part of this battle is political as well. Therefore, Europe's economical performance in 2013 will heavily rely whether it can make tough decisions by leaving politics aside for a while. This is easier said than done though...

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