Anna, great post on the current state of affairs of Europe. The post also struck me as a mirror image of the current situation in the US. Your conclusion of "what will get businesses hiring again and consumers spending -- is the hope of a better tomorrow" seems familiar too. It was President's Obama's call for hope of a better America in 2008.
Unfortunatley like Europe, the self interest of individual states in the US and countries in Europe drowned this drumbeats hope. As long as national and party interest takes the forefront, we will continue on this downward free fall to global financial doom. This will also be the precursor of breakdown of law and order which we have started seeing that in London and Philadelphia.
I agree with you Anna, definitely. For now, a part some "echoed" invitations for teaming, European leaders didn't present any real plan for resuming back the growth. Recent drammatical events in London for example, represent once again how is urgent from leader, real plans trusted by citizens, in principle. If they leave leadership is in charge to Central EU Bank, the only way will be cut costs. We trust in a better tomorrow.
@jbond, Dave & Flyingscot, your analysis of the global crisis are accurate. Europe and RoW are still reeling from the after effect of the 2008 crisis which stem from USA.
As stated by Flyingscot, that" when America sneezes the RoW catches the cold". RoW cannot cure their cold in as much as America too had been unable to curtail its sneezing. Global economy needs a revival. Europe, America will need to come up with a workable strategy that will help to manage the current and ongoing fiscal debts crisis as well as positively impact businesses and foster spending again.
@mfbertozzi, thanks for your comment. I agree that Europe still requires to explore further "green horizon". I strongly believe Europe will certainly explore "green horizon" and ride out this fiscal debts challenges.
The urge to unite and deal with this ongoing problems is echoed by some European leaders and I do agree as there is strength in unity. I'm sure you will agree with me that European leaders need to urgently come up with plans and strategy to boost consumer spending as well as foster ideas to encourage businesses develop and create more jobs.
I think your analysis of the situation is dead on. The RoW has been feeling the pain of the financial collapse in the U.S. that started in 2008. Some economies have done fine, while others have failed or come close to it. The world needs a positive outlook on the future to get things moving in the right direction. This all starts with how the U.S. handles its debt crisis and looks to regain its AAA rating. U.S. law makers and financial experts need to get moving quickly to regain some momentum and not only help the U.S. economy, but the RoW.
@Flyingscot – I agree, the current US economic climate and the recent downgrade of the credit rating by the S&P definitely does not help matters.The situation will remain fragile until the US comes up with a solid plan to fix it economy and project a feasible and sound economic plan that the RoW can once again have confidence in the US economy.Then the RoW will follow with improvement to their economic situations. The world needs solutions and renewed optimism and it starts with the US taking the lead.
It has been said that when USA sneezes the RoW catches a cold. Market sell offs are also being fueled by the growth figures in the USA, its mountain of debt, its struggle to reach a deal in Congress to address that debt and the downgrading of its credit rating. These are serious issues affecting the RoW.
Great article Anna, your perspective is reproducing a fair picture of real status, actually. Does better tomorrow really exist for UE? Imo, I personally think there are still green horizons to explore, but clear projects from Govs are needed. Speaking about Italy for example, we are only assisting to fiscal pressure which is raising day-by-day, everything but no serious programs for launching new initiatives for education, tech investments, for rasing jobs instead of jobs cut, have been outlined by Government and major Institutions. What happened for Fiat Group, one of the biggest automotive producers in the world? That Italian company, in order to follow a strategy for making itself bigger avoiding to leave huge quotas in car market, has invested outisde Italy...in US, acquiring Chrysler. One year after, economics results are very positive and default for US Chrysler was avoided. It seems managers and people within the company are good and hold good talent, but to survey the only way was to invest outside their country....
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Peter Drucker famously said "Trying to predict the future is like trying to drive down a country road at night with no lights while looking out the back window." Yet in the razor's-edge world of electronics—with a lean supply chain and just-in-time demands—the need to know the future is vital.
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You've heard the saying "the No. 1 supply chain risk is your people." That hasn't always been the case. But today's complex global supply chain requires a new type of multitalented employee. It's one who understands, finance, marketing, economics, is savvy with technology, graceful with relationships and can think analytically.
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