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Euro-Crisis: What It Means for High-Tech Firms

429 comments on “Euro-Crisis: What It Means for High-Tech Firms

  1. Anand
    July 11, 2012

    Hi all…

  2. Nemos
    July 11, 2012

    Hi anandvy a bit early I think ūüėČ

  3. Wale Bakare
    July 11, 2012

    Hi All.

  4. Nemos
    July 11, 2012

    Hi Wale, Welcome

  5. Wale Bakare
    July 11, 2012

    Thanks Nemos. You welcome!

  6. Susan Fourtané
    July 11, 2012

    Hello, everybody. Testing, and coming back in a bit. 

  7. Houngbo_Hospice
    July 11, 2012

    Hello, SF!

  8. Nemos
    July 11, 2012

    Hello Suzan welcome, Hi HH

  9. Houngbo_Hospice
    July 11, 2012

    Hello, Nemos! 

  10. Houngbo_Hospice
    July 11, 2012

    @All: The chat has been cancelled. PLease check your email.

  11. Nemos
    July 11, 2012

    ooo yes,

  12. Nemos
    July 11, 2012

    This Live Chat has now been rescheduled for Thursday July 12 at 10.00 a.m. EDT

  13. Susan Fourtané
    July 11, 2012

    In case someone didn't read Jennifer's blog on the topic, here it is for a quick warm up before the live chat: http://www.ebnonline.com/author.asp?section_id=1061&doc_id=246966&

  14. Houngbo_Hospice
    July 11, 2012

    @SF: This Live Chat has now been rescheduled for Thursday July 12 at 10.00 a.m. EDT

  15. Susan Fourtané
    July 11, 2012

    Hi, @HH, and @Nemos

  16. Nemos
    July 11, 2012

    @Suzan we will meet at the same place Tommorow ūüėČ

  17. Susan Fourtané
    July 11, 2012

    You mean this chat has been postponed?

  18. Susan Fourtané
    July 11, 2012

    How do you know? 

  19. Nemos
    July 11, 2012

    yes

  20. Nemos
    July 11, 2012

    I just received email from Bolaji

  21. Houngbo_Hospice
    July 11, 2012

    @SF: Pease check your email

  22. Susan Fourtané
    July 11, 2012

    Let me check. I didn't see anything a couple of minutes ago

  23. Houngbo_Hospice
    July 11, 2012

    @SF: I meant, “Please check your email”

  24. Susan Fourtané
    July 11, 2012

    Thanks. Yes, I see Bolaji's email now. 

  25. Houngbo_Hospice
    July 11, 2012

    See you tomorrow!

  26. Susan Fourtané
    July 11, 2012

    Well, so let's meet again tomorrow at the same time, and same bati channel. 

  27. Susan Fourtané
    July 11, 2012

    Have a lovely day, everyone! See you tomorrow. 

  28. Nemos
    July 11, 2012

    ūüėČ

  29. Anand
    July 11, 2012

    Hello everyone…

  30. Wale Bakare
    July 11, 2012

    Oops! See you tomorrow guys. Have a nice time, bye!

  31. Susan Fourtané
    July 11, 2012

    Hello, anandvy and Wale. This chat has been rescheduled. We will meet here tomorrow at 10 am. EDT (3pm London). Check your email for Bolaji's notification. See you tomorrow.

  32. Susan Fourtané
    July 11, 2012

    Everyone: As we are all here we can take the opportunity to go to the boards and see what's new today. See on the boards. 

  33. Ashu001
    July 12, 2012

    Wow! how is it that everyone at EBN gets super-charged for the event 24 hours in advance!!!

  34. Anand
    July 12, 2012

    Hi all

  35. Anand
    July 12, 2012

    @tech, actually this chat was scheduled for yesterday but then got postponed…

  36. Nemos
    July 12, 2012

    Hi , all nice to meet you again

  37. Ashu001
    July 12, 2012

    @ANAND-Yes,I realized that.

  38. Ashu001
    July 12, 2012

    @Anand-Its quite funny,I actually was away from my PC the entire day.So i missed the short annoucement from Bolaji!!!

  39. Ashu001
    July 12, 2012

    @Anand-and then late in the evening,when I checked I realised that I missed it…But then I saw the Follow-up mail from Bolaji saying its been postponed…Lucky Me!!!

  40. Anand
    July 12, 2012

    @tech :)…so you settled in US ?¬†

  41. Anand
    July 12, 2012

    @Rich, I agree with you…economic problems are never ending

  42. Ashu001
    July 12, 2012

    @Anand-Actually I am a consultant,so I travel a lot!Can't say I am settled in any one place-Europe,US,India,Middle East and Africa all open!

  43. Ashu001
    July 12, 2012

    @Rich-You are right!You know what I think?

  44. bolaji ojo
    July 12, 2012

    Good morning or good afternoon/evening depending upon where you are in the world. My apologies for the mixed signals about the date of this Live Chat. We will begin in 10 minutes.

  45. Houngbo_Hospice
    July 12, 2012

    Hi, everyone!

  46. Anand
    July 12, 2012

    Good morning Bolaji, I think the crowd is not big today.

  47. Houngbo_Hospice
    July 12, 2012

    OK, Bolaji!

  48. Anand
    July 12, 2012

    @tech, would like to talk to you later, you on linkedin ?

  49. Jennifer Baljko
    July 12, 2012

    Hello All!

     

  50. Anand
    July 12, 2012

    Welcome Jennifer

  51. ITempire
    July 12, 2012

    Hi everyone

  52. Wale Bakare
    July 12, 2012

    Hi everyone!

  53. prabhakar_deosthali
    July 12, 2012

    Good morning everybody

  54. ITempire
    July 12, 2012

    Hi Wale

  55. Wale Bakare
    July 12, 2012

    Hello Rich

  56. SunitaT
    July 12, 2012

    Hi all..

  57. Ashu001
    July 12, 2012

    @Rich-sorry I got disconnected.I believe,that we should continue giving our 110% best every single day and not worry about the Global economic situation.

  58. Wale Bakare
    July 12, 2012

    Hi WaqasAltaf

  59. Ashu001
    July 12, 2012

    @Rich-We need to do be the most positive when things are the gloomiest around us.[I guess that's the Salesman in me talking]

  60. Daniel
    July 12, 2012

    Good Morning everybody

  61. Ashu001
    July 12, 2012

    @Anand-Sure!Will chatup.

  62. Houngbo_Hospice
    July 12, 2012

    Hi, Jen!

  63. SunitaT
    July 12, 2012

    @Rich your responses are always funny…:)

  64. Ashu001
    July 12, 2012

    @Rich-Every single day there is some problem somewhere in the world.So should we be Glum everyday?No.I don't think so.Give your 110% and hope for the best.

  65. ITempire
    July 12, 2012

    Hi Jacob and Hospice

  66. Anna Young
    July 12, 2012

    Hello everyone.

     

     

  67. ITempire
    July 12, 2012

    Hi Anna

  68. Houngbo_Hospice
    July 12, 2012

    Hello, WaqasAltaf

  69. Ariella
    July 12, 2012

    Hello, Anna and all the others here already!

     

  70. Jennifer Baljko
    July 12, 2012

    Glad you guys can join. Apologies for the confusion yesterday. Part of it was my fault. Calendar collison. But glad everyone's here today.

  71. bolaji ojo
    July 12, 2012

    It's not likely we can be glum with Rich around.

  72. Ashu001
    July 12, 2012

    @Rich-Yes,but then most of the Community here at EBN does not fall in that category! Does it?

  73. Wale Bakare
    July 12, 2012

    Hi Anna, welcome

  74. Anand
    July 12, 2012

    we have a packed house today..

  75. bolaji ojo
    July 12, 2012

    Welcome again to today's Live Chat. We will start in about two minutes.

  76. Anna Young
    July 12, 2012

    Hi WaqasAlf

     

  77. Houngbo_Hospice
    July 12, 2012

    Welcome, Ariella, Anna!

  78. Anna Young
    July 12, 2012

    Hia Ariella

     

  79. Daniel
    July 12, 2012

    welcome bolaji

  80. Anna Young
    July 12, 2012

    Hi HH

  81. Anna Young
    July 12, 2012

    Hi Wale

  82. Ariella
    July 12, 2012

    Hello, Hospice

  83. Nemos
    July 12, 2012

    Welcome @ALL

  84. Houngbo_Hospice
    July 12, 2012

    10:00 AM.

  85. bolaji ojo
    July 12, 2012

    Good afternoon and welcome to EBN's weekly Live Chat. Today, we will be talking with Jennifer Baljko, a long-term observer of events in the electronics industry and contributor to EBN. Jenn will be answering questions and commenting on economic events in the Euro-area with contributions from myself. Jennifer has been living in Europe for about 10 years and once worked with me at EBN before that. She travels regularly on the continent and can lend some insight into how events in the region are impacting the electronics industry. Welcome Jenn.

  86. Eldredge
    July 12, 2012

    Good morning All

  87. Jennifer Baljko
    July 12, 2012

    Hello!

  88. Anand
    July 12, 2012

    Welcome Jennifer…

  89. FLYINGSCOT
    July 12, 2012

    hi everyone

  90. bolaji ojo
    July 12, 2012

    As usual, I would like to give Jennifer the opportunity to open the discussions with some general comments. I will also provide some insight from my end and then we will open up the discussion to everyone.

  91. Jennifer Baljko
    July 12, 2012

    Bolaji thanks for the warm welcome.

  92. prabhakar_deosthali
    July 12, 2012

    welcome Jenn

     

  93. mfbertozzi
    July 12, 2012

    Hello to everyone !

  94. Daniel
    July 12, 2012

    Hi Jennifer

  95. SunitaT
    July 12, 2012

    @Jennifer welcome

  96. Jennifer Baljko
    July 12, 2012

    I'm been mostly living in Spain, but like Bolaji said, have been around the region for a while.

  97. Jennifer Baljko
    July 12, 2012

    Where should we start… it's a big topic.

  98. prabhakar_deosthali
    July 12, 2012

    The greece?

  99. bolaji ojo
    July 12, 2012

    While Jenn is getting her opening comments ready, I want to ask that we stay on point. For many in the world today, the issue of what's happening in Europe affects many businesses, citizens and employees.

  100. Jennifer Baljko
    July 12, 2012

    I'll start with an obvious statement. Europe's a mess.

  101. Anand
    July 12, 2012

    Has the recently held EU elections solved the problem?

  102. Daniel
    July 12, 2012

    I think EU financial crisis started from Greec

  103. Nemos
    July 12, 2012

    Hold the Hi and Hello and your comments for a while Please.

  104. Jennifer Baljko
    July 12, 2012

    News yesterday coming out of Spain is grim at best. More austerity measures and little talk of growth stimulus will bang up the region even more.

  105. bolaji ojo
    July 12, 2012

    Please hold the questions for a short while. The introductory comments won't be long.

  106. bolaji ojo
    July 12, 2012

    Thank you Nemos

  107. bolaji ojo
    July 12, 2012

    As Jenn said, Europe is a mess. That mess has been building up for a while. It is hurting businesses and exporters especially.

  108. Jennifer Baljko
    July 12, 2012

    Yes, Greece is a starting point, but problems have been brewing long before Greece' headlines made global news

  109. Jennifer Baljko
    July 12, 2012

    Many countries in the euros zone are carrying bad debts and the entire regional banking system is under scrunity. And, I think it will get worse before it gets better.

  110. Jennifer Baljko
    July 12, 2012

    We're on the edge of earnings season, and like past quarters I'm not expecting any novel insight.

  111. bolaji ojo
    July 12, 2012

    The region has been going through what's been described as “acute crisis” for a while. Recent policy decisions and fiscal measures haven't solved the debt and unemployment problems. The high unemployment means sales to the region are depressed, banks are tightening up lending and governments are also cutting expenses, which is putting a break on economic growth.

  112. bolaji ojo
    July 12, 2012

    Jenn, What is the expectation as far as earnings?

  113. Jennifer Baljko
    July 12, 2012

    Many companies have warned that they are cautiously optimistic, but with China also slowing down, another long-term recession in Europe will impact consumer spending and corporate financials

  114. Jennifer Baljko
    July 12, 2012

    Bolaji – you're right about brakes on economic growth

  115. Jennifer Baljko
    July 12, 2012

    As far as earnings, I think we'll see pockets of hope.

  116. bolaji ojo
    July 12, 2012

    For those interest in diving in deeper into how events in the rest of the world and Europe are shaping up, please see the IMF World Economic Outlook.

  117. Jennifer Baljko
    July 12, 2012

    Namely in ¬†companies that may have some investments tied to smart city development or medical/bio-tech sectors. Those seem to be some industries that have been slightly shielded from the worst brunt of the storm… but…

     

  118. bolaji ojo
    July 12, 2012

    Some of Europe's biggest manufacturing companies aren't expecting a robust quarter. However, they've also expanded sales outside the region. This category includes companies like Siemens, Philips, Alcatel-Lucent, STMicroelectronics. Another group of companies that is hurting are American and Japanese companies that generate large portions of their sales from the region.

  119. Jennifer Baljko
    July 12, 2012

    Hard to know how long that will last… govts are cutting hospitals and capital/public works projects, so nothing is ¬†a sacred cow.

  120. Daniel
    July 12, 2012

    jen, whats the reason for crisis in EU

  121. Eldredge
    July 12, 2012

    Any thoughts on what industries will be hardest hit and what ones will weather better?

  122. Daniel
    July 12, 2012

    jen, whats the reason for crisis in EU

  123. bolaji ojo
    July 12, 2012

    Thank you everyone for holding your comments and questions until now. I invite you to chime in. Remember, this is a discussion and not a Q&A so feel free to pose questions and answer any with suggestions.

  124. prabhakar_deosthali
    July 12, 2012

    1. In today's global scenario the Automobile and Electronics are the two major economic health indicators. How is Europe's present condition in these sectors?

    2. Are the europe's problems compounded because of the loosly coupled strcuture of the EU?

  125. Jennifer Baljko
    July 12, 2012

    Eurostat has a new report out today on Industrial production… haven't read it just yet, but here's a link

    http://epp.eurostat.ec.europa.eu/cache/ITY_PUBLIC/4-12072012-AP/EN/4-12072012-AP-EN.PDF

     

  126. Anna Young
    July 12, 2012

    EU crisis dates back to 10 /12 ears ago Jacob

  127. Anand
    July 12, 2012

    Jennifer what is the impact of recently held EU elections on the crisis ?

  128. Ariella
    July 12, 2012

    @Anna Do you poinpoint a particular cause around the year 2000?

  129. Daniel
    July 12, 2012

    bolaji, i think MNCs can survive because of their global presents

  130. bolaji ojo
    July 12, 2012

    @Jacob, The link I provided earlier addressed your question. However, some European countries, like even the U.S. have been living beyond their means. Governments could not continue to borrow and lenders were querying the ability of these countries to repay bonds.

  131. Jennifer Baljko
    July 12, 2012

    Bolaji – do you want to start answering some of the questions…¬†

  132. SunitaT
    July 12, 2012

    @Jennifer how long it will take for the European economy to stabilize ?

  133. Nemos
    July 12, 2012

    @All what do you think about the Future of Europe ?

  134. Wale Bakare
    July 12, 2012

     With Peugeot auto company announced cut in jobs today, things not looking good. What do you think would happen to techy industries?

  135. Jennifer Baljko
    July 12, 2012

    It's hard to pinpoint one exactly moment in time when the EU crisis took on such heat

  136. Daniel
    July 12, 2012

    Jen, thats a global crise and i think their after most of the countries survived

  137. Anna Young
    July 12, 2012

    Nemos, I think the future of EU will get better. But not immediately

  138. FLYINGSCOT
    July 12, 2012

    Banks need to start lending to smaller high tech companies

     

  139. Jennifer Baljko
    July 12, 2012

    Like Anna said, it started many years ago in many pockets around Europe and bew up when the US fell into recession.

  140. Ariella
    July 12, 2012

    @Boaji The governments are doing what many individuals do — living on credit without considering income limits

  141. Wale Bakare
    July 12, 2012

    @Nemos, hard to predict. Uncertainty remains the certain thing to happen…

  142. Jennifer Baljko
    July 12, 2012

    It's a combination now of debt, a banking crisis, high unemployment and very little projected growth.

  143. bolaji ojo
    July 12, 2012

    @Anandvy, The recently held elections will have limited impact. The main mover in Europe is Germany and that's where we should pay the greater attention. If the German Constitutional Court rules against the recent fiscal agreement struck by Angela Merkel, bondholders will start fretting again and this could impact even larger economies like France.

  144. Ashu001
    July 12, 2012

    @Jennifer-I had a question-How much of this slowdown in Europe is Self-inflicted and how much is a result of Slowdowns in China and the US? Could you please give us a Percentage wise breakup? Thanks

  145. Houngbo_Hospice
    July 12, 2012

    @Wale: That is a sad news for Peugeot Citroen employees, isn't it?

  146. Anna Young
    July 12, 2012

    Sorry I got kicked out by my computer

  147. Jennifer Baljko
    July 12, 2012

    And, governments and individuals have lived beyond their means. Spain is a perfect example of that, and that is coming due now… but, it's a price we are all going to have to pay somehow.

  148. Daniel
    July 12, 2012

    if the crisis persist like this, what would be the impact on industries, especially with local industries

  149. Nemos
    July 12, 2012

    @ALL I think will be two ways for the Euro zone :the failure , and we will not see euro coin again or the success and we will see a very powerful Europe (Euro Zone) .

  150. bolaji ojo
    July 12, 2012

    @Tirlapur, Interestingly enough. Europe is already stabilizing to some extent due to the agreement I referred to earlier. At least, governments are beginning to evaluate the extent of their indebtedness while they are also finding out what exactly lenders are willing to accept. This clarity was not there until the recent crisis. If the agreement unravels there will be more problems.

  151. Jennifer Baljko
    July 12, 2012

    tech4people – I dont have an exact percentage on what part is self inflicted and what part is directly related to China. That would be based on a company by company, nation by nation comparison, I think

  152. Houngbo_Hospice
    July 12, 2012

    My question is whether the whole “EU” thing was a mistake.¬†

  153. prabhakar_deosthali
    July 12, 2012

    Jennifer, If you were to give advice on what EU should do to come out of this crisis, what would be your advice?

  154. Nemos
    July 12, 2012

    @rich Poland is out of the Euro zone

  155. Susan Fourtané
    July 12, 2012

    Here now. 

  156. mfbertozzi
    July 12, 2012

    @Jennifer/Bolaji/all: It is really fascinating trying to deep understand the origin of Europe's financial crisis; knowing the past could help in planning better the future. Any thoughts? Jennifer told earlier ” it is a mess “, but what was the real cause in principle?

  157. Wale Bakare
    July 12, 2012

    @Anna, over the last few years prediction had that recession would ease off by year 2012. Alas!!! Not immediate but when? what other areas do you think major european firms should focus on?

  158. Ariella
    July 12, 2012

    @Susan, hello

  159. Houngbo_Hospice
    July 12, 2012

    Greetings, SF!

  160. Anand
    July 12, 2012

    @Jennifer is the crisis in europe helping countries in Asia to show their dominance ?

  161. bolaji ojo
    July 12, 2012

    @Rich, Thank you for bringing up Poland. I believe that many observers continue to focus primarily on the core EU nations. They've not paid enough attention to the fringe and newer member states most of which don't have the debt burdens of their richer neighbors.

  162. Jennifer Baljko
    July 12, 2012

    I agree with Bolaji. the EU election won't have a big deal. Germany's is shaping the direction of austerity and recovery.. Much will depend on them and local elections there

  163. Nemos
    July 12, 2012

    @HH what it was a mistake ? I think it was the best think I have ever see

  164. Ashu001
    July 12, 2012

    @mfb-The real cause of Europe's mess(atleast according to Barroso) is Amhttp://www.youtube.com/watch?v=OvPc8jVYoOcerica.

    LOL!!!

  165. Jennifer Baljko
    July 12, 2012

    There's a lot of talk if the EU and the euro was a mistake. I don't think it was. I think it was created in roaring bull times and has never withstood an extended bad time.

  166. SunitaT
    July 12, 2012

    @Jennifer do you think eventually Greece will come out of EU ? 

  167. Nemos
    July 12, 2012

    @rich it is 2 different things :Europe ,and Euro zone, poland is in Europe but not part of the euro zone

  168. bolaji ojo
    July 12, 2012

    @mfbertozzi, I'll give your question a shot.

  169. Daniel
    July 12, 2012

    Jen, simlarlly one crisis happened in Dubai and the neighbouring ountries had pulled money for Dubai banj and the issue had solved to an extant, a similar move can be expected from EU countries

  170. Anna Young
    July 12, 2012

    HH, I think the EU thing is not a mistake. The main problemwas that due consideration was not given to a common fiscal policyeconomic status

  171. Houngbo_Hospice
    July 12, 2012

    @Nemos: I agree. But many people start thinking the contrary

  172. Jennifer Baljko
    July 12, 2012

    I don't think some of the numbers countries are held accountable to were good targets to set (debt vs GDP growth. Because they were based on the strongest country's economic models, not realtistically on how the weaker ones could attain that.

  173. Ariella
    July 12, 2012

    @Nemos Yes, not all countries in Europe participate. As I understand it England did not join.

  174. ITempire
    July 12, 2012

    I agree with Jennifer. The advantages EU and Euro brought to the economies were great. We cant just make an opinion based on the last few years of recession.

  175. Wale Bakare
    July 12, 2012

    There's a project initiative scheme launched by a group investors and currently backing with Sunderland football FC in Uk. Project called – Invest in Africa. what effect would this kind of strategy have on Europe?

  176. Jennifer Baljko
    July 12, 2012

    So what are some of the solution. I'd love to hear where you think solutions lie.. I have a couple of ideas.

     

  177. Nemos
    July 12, 2012

    @Ariella , indeed

  178. Ashu001
    July 12, 2012

    http://www.youtube.com/watch?v=OvPc8jVYoOc

    Sorry-I meant Barroso claims America is responsible for Europe's mess!

  179. Susan Fourtané
    July 12, 2012

    @Ariella: England didn't join what?

  180. prabhakar_deosthali
    July 12, 2012

    are the different cultures and different languages of EU members creating hurdles in having a unified face of EU in front of the world?

  181. Jennifer Baljko
    July 12, 2012

    Some of the solutions I started to touch on in recent blog and comments. Starting to move the conversation away from austerity only and more towards growth is critical.

  182. mfbertozzi
    July 12, 2012

    @tech4people: thx for the link, get back to you soon.

  183. Anna Young
    July 12, 2012

    Prabhakar absolutely not

  184. Ariella
    July 12, 2012

    @Susan The Euroean zone an dthe adoption of the euro

  185. Wale Bakare
    July 12, 2012

    @Susan, technically England is part of Europe but not Euro Zone. I think

  186. Ashu001
    July 12, 2012

    @Susan-England did not join Euro Currency Union;that was primarily thanks to George Soros!!!

  187. ITempire
    July 12, 2012

    @ Jennifer

    Stringent laws will not facilitate high tech firms and skilled employees. People need a relaxed environment for growth. Europe I feel has too many regulations.

  188. FLYINGSCOT
    July 12, 2012

    UK is part of European Union but is not in the Euro

  189. Ashu001
    July 12, 2012

    George Soros-The man who broke the bank of England(England's central bank) and ensure England would never be part of the Euro Currency Union.Now England should send him a Thank You Card!!!

  190. Anand
    July 12, 2012

    People were thinking to replace dollor with Euro as the global currency but this euro-crisis has given more strength to dollor and the euro is diminishing against euro.

  191. Jennifer Baljko
    July 12, 2012

    There are pockets of investment happening … FET and FP7, which are putting money aside for R&D

  192. bolaji ojo
    July 12, 2012

    @mfbertozzi, I believe history is a part of the problem in Europe. In fact, some of the fundamental problems date back to the end of World War 11. This is addressed in the book “Postwar: A History of Europe Since 1945″ by Tony Judt. The problems include the ownership of commercial institutions and banks by governments, which then used this to win elections by paying hefty social compensations that the state could not really afford. The debt mountain has been building for quite a while.

    This is especially the case for countries like Italy and Spain. In the case of Greece, it won the right to join the EU plus hefty payments from Brussels that allowed the government to build a large bureacrazy that couldn't be supported from very low taxes. To finance this they had to borrow.

  193. Susan Fourtané
    July 12, 2012

    @prabhakar: different cultures and different local languages has nothing to do with it. The common language for all is English, that doesn't present any difficulty. 

  194. Jennifer Baljko
    July 12, 2012

    waqasAltaf – you're right… I think much of the legal and business rules here need to change.

  195. Daniel
    July 12, 2012

    Jen, i read that some of the EU contries have plans to not use Euros

  196. ITempire
    July 12, 2012

    @ tech4people

    Lolz @ thankyou card. Well England isnt performing that well too; esp when it comes to attract hightech firms.

  197. prabhakar_deosthali
    July 12, 2012

    Europian people have a laid back life style as far as my working in France goes.  could this be at the root of high rate of unemploymentin EU?

  198. Jennifer Baljko
    July 12, 2012

    Including the way the venture capital community engages with start-ups

  199. Wale Bakare
    July 12, 2012

    @WaqasAltaf, you pinpointed one of the issues mitigating against Europe economy. there's need to put relaxation on some of the regulations.

  200. mfbertozzi
    July 12, 2012

    @AnnaYoung: just a thought to share about EU and UK; feeling is that quite huge distance in terms of decisions on economy is still in place, despite the geography, UK is in Europe but still away from EU, is only a feeling from people living in West-Central Europe?

  201. Nemos
    July 12, 2012

    @tech4people It seems that England doesnt like much the Europe …..

  202. Jennifer Baljko
    July 12, 2012

    The VC community here is different than Silicon Valley… they get involved in more later stages

  203. Ashu001
    July 12, 2012

    @Waqas-That's true but believe me,their problems would have been worse if they were part of the Euro Union!

  204. bolaji ojo
    July 12, 2012

    @Tech4people, England already sent George Soros “a thank you” card. He made a huge profit betting against the sterling. But the British were not going to give up the pound anyway. It is attached to the monarch, which they rail often against but won't give up.

  205. ITempire
    July 12, 2012

    @ Susan

    Europe has too many languages but it still does well due to single currency and relaxed visa issues.

  206. Ariella
    July 12, 2012

    @Nemos there may be something to that

  207. Ashu001
    July 12, 2012

    @Nemos-Whether u like it or not,most of England's Exports go to the Eurozone today,so what happens in Europe immediately affects England.

  208. Susan Fourtané
    July 12, 2012

    @Ariella: England keeps the Sterling Pound as its currency. Other European countries haven't adopted the Euro either, like Sweden, Norway, Denmark…

  209. Jennifer Baljko
    July 12, 2012

    Although the relationships with research universities is not as strong as we would see in Boston or Silican Valley, where schools, governments and private sector are innovating together.

  210. Anna Young
    July 12, 2012

    MF. The problem in Europe does refect on UK's economy aswell

  211. Jennifer Baljko
    July 12, 2012

    Ok, catching up.. give me one second.

  212. Daniel
    July 12, 2012

    Any movements from EU communities for overcome this crisis

  213. Susan Fourtané
    July 12, 2012

    @Wale: it's not technically, The U.K. does belong to Europe, even thought it hasn't adopted the Euro. that's a different story. 

  214. Ariella
    July 12, 2012

    @Bolaji, the royal family is a huge attraction for tourists and something that reinforces the history of the country. If they gave it up, they would lose a key component of their unique identity.

  215. mfbertozzi
    July 12, 2012

    @Bolaji: thx, very appreciated; like you, I am convinced the gap goes back many years ago, but I am also quite aligned to thesis from economists about most recent recession happened.

  216. bolaji ojo
    July 12, 2012

    @Prabhakar, Europeans may have a “laid back” lifestyle if eating launch not at your desk is what you mean but that shouldn't be the reason for the problem. Having shops closed for lunch and on Sundays hasn't hurt Germany.

  217. Ariella
    July 12, 2012

    @tech4peole sure, what happens in one place affect another in a global economy — even if you do maintain your own currency.

  218. SunitaT
    July 12, 2012

    @Jacob, I think there are protests in Spain against the some of the government initiatives.

  219. Anna Young
    July 12, 2012

    It's a shame people in living in central Europe feel that way

  220. Wale Bakare
    July 12, 2012

    Also, there are few start-up techies exist in Europe and the few and upcoming ones have difficulty in getting funds. And if they do tax regulation would sent them packing after a while.

  221. Nemos
    July 12, 2012

    @tech4people The politicians of England doesnt help the situation , and most of the sales heading in Europe

  222. Barbara Jorgensen
    July 12, 2012

    Hi all. Been offline 3 days–a hap-py to be back!

  223. Ashu001
    July 12, 2012

    @Bolaji-Yeah I agree,u shud c the Jubilee Celebrations in England this year.MASSIVE!!!

  224. bolaji ojo
    July 12, 2012

    @mfbertozzi, Could you share your understanding of what economists are saying in Europe about the reasons behind the current problem?

  225. Jennifer Baljko
    July 12, 2012

    There is a lot of talk about countries wanting to exit the EU. I don't how how wise that it, but I do think the currency has long been overvalued, and the fact that it dropped to a two-year low may help things like exports, but I can't say I'm a big fan of stripping the euro as a long term solution. It sounds more like a band-aid solution to me.

  226. SunitaT
    July 12, 2012

    @Barbara, welcome back…

  227. mfbertozzi
    July 12, 2012

    @AnnaY: thx, I agree with you, I hope Union and UK will work closer in trying to solving or mitigate the impact, for outlining a shared recovery plan (if exists…)

  228. Houngbo_Hospice
    July 12, 2012

    Welcome back, Barb!

  229. Daniel
    July 12, 2012

    Bolaji, i think tourism sector can fetch more earnings, even in crisis time. most of  the EU countries are geographicall good to attract outside tourist peoples

  230. bolaji ojo
    July 12, 2012

    @Wale, The smaller businesses in Europe are suffering the impact of outsourcing to China also. During a recent visit, I found a contract manufacturer in Switzerland that has innovative processes but which is also finding itself struggling to expand operations because of competition from the Far East. It has struggled but it is surviving and proving it is possible to manufacture in Europe.

  231. Jennifer Baljko
    July 12, 2012

    Someone asked about the laid-back lifestyle. I don't think that's completely fair. I know a lot of people are are working two or three jobs right now to make ends meet, and many people who are working 10-12 hour days. Somewhere in recent history, a 10-hour day has become the norm, and I think Europeans are staunch defenders in saying we'll work hard, but there's more to life than working all day

  232. Ashu001
    July 12, 2012

    @All-Btw The European financial Crisis is having massive effects in India today

    http://articles.economictimes.indiatimes.com/2012-07-11/news/32619668_1_bench-strength-utilisation-rates-new-recruits

  233. Susan Fourtané
    July 12, 2012

    @Prabhakar: What do you mean? Why laid back life style? 

  234. Barbara Jorgensen
    July 12, 2012

    Hi Jenn and Bolaji: It seems to me the EU is still very fragmented: isn't a crisis enough to get it to pull in the same direction?

  235. Wale Bakare
    July 12, 2012

    @Jennifer, what future holds for Euro currency now if many nations decide to opt out of European union?

  236. Susan Fourtané
    July 12, 2012

    That's right, The European Union and the EuroZone are two different things. 

  237. Anna Young
    July 12, 2012

    MF, recovery plan is inevitable. its just taking a lot longer to implement. Europe is a largest economy, the governments can't afford to allow things slide

  238. Anand
    July 12, 2012

    @Jennifer, euro is already close to 1.2 against the dollor. Do you think it has the potential to go below 1.2 levels ?

  239. FLYINGSCOT
    July 12, 2012

    Need to copy Germany and have long term growth plans supported by companies and govt and not be at the whim of quarterly eranings targets to pacify investment banks

  240. Jennifer Baljko
    July 12, 2012

    Jacob – yes tourism is a good thing and is a life-saver for many economies right now, but it's not enough. There has to be an investment in high-skill labor and more entrepreneurial endeavors… that's lacking in large parts of Europe since, like in the US, lots of things were shppped off shore.

  241. prabhakar_deosthali
    July 12, 2012

    Susan,

    I have seen people taking 2 hours lunch break!

  242. Nemos
    July 12, 2012

    @Rich

    who is “lounging around the sauna “?

  243. bolaji ojo
    July 12, 2012

    @Jacob, Yes. If you are traveling today in euro-currency countries you are likely to get a lot of value for your dollar. The euro dropped again today but only because it is now seen that U.S. employment conditions might start to improve soon.

  244. Susan Fourtané
    July 12, 2012

    Yes, I agree with all what @Jennifer said about the “laid back ife style” in Europe.¬†

  245. Daniel
    July 12, 2012

    Anand, If some of the countrie opted out of Euro, then i think it may come down below the mark of 1.2

  246. Barbara Jorgensen
    July 12, 2012

    To those in Europe: Can high-tech do anything separate from the government/finanical bodies to help itself, or are there restrictions (unions?) that make this difficult?

  247. mfbertozzi
    July 12, 2012

    @Bolaji/Jennifer/all: [part-1] the thesis is that the collapse of Lehman in 2008 ( which had granted lines of credit even to those who were able to repay and selling financial products with a limited warranty to European banks ) , has been the source of financial difficulty.

  248. Jennifer Baljko
    July 12, 2012

    anandvy – yes, I think the euro will drop a little more as the next round of austerity measures play out. When I first came here in 2002-2003 it was about 1.15. At it's peak, I think it was 1.60 against the dollar… I'd have to check that, but yeah, I think it will be on a roller coaster ride for a while longer

  249. prabhakar_deosthali
    July 12, 2012

    May be the day is not far when Chinese Yuan will replace US dollar

  250. FLYINGSCOT
    July 12, 2012

    high tech needs investment and banks are not lending

     

  251. Susan Fourtané
    July 12, 2012

    @prabhakar: having a healthy life style is not the same as having a laid back life style. Sometimes people confuse those two. 

  252. Wale Bakare
    July 12, 2012

    @Flyingscot, many Germany firms are operating outside Europe especially Africa they have got massive engineering projects embarking upon there my country a case study.

  253. bolaji ojo
    July 12, 2012

    @Tech4People, Thanks for bringing up the global implications of events in Europe on other regions. In additon to falling sales to the region, many foreign customers of companies in Europe cannot get the same financing conditions they used to get because their European partners don't have the ability to grant them extended payment terms.

  254. Houngbo_Hospice
    July 12, 2012

    @Prabhakar: (Might be off topic). China has her own problems

  255. Nemos
    July 12, 2012

    @Barbara Yes the only solution is to invent, it is the only way As I have seen austerities measurements doest help , think that Angela doesnt understand well.

  256. Ashu001
    July 12, 2012

    @mfb-Is it true that everyone in the Government Sector in Italy gets 3 Months off as Summer Vacation?

  257. Jennifer Baljko
    July 12, 2012

    Hi Barbara – your question on fragmentation is a good one. You'd think a crisis would cure that, but really what's happening is showing how the strong companies pull all the strings, and this is not a union of equals.

  258. Ashu001
    July 12, 2012

    @Mfb-Man,if its true,I would love to work for the Italian Govt.

  259. Anna Young
    July 12, 2012

    @Wale, to encourage growth, the government is opening refinancing option to help stabilize the European banking system. This will allow for a longer term repayment plan with a lower rate in place.

  260. Jennifer Baljko
    July 12, 2012

    But then again, maybe the notion of equals was far-fetched to begin with. That said it can't be denied that many good things have been created under the notion of regional unity.

  261. Barbara Jorgensen
    July 12, 2012

    @all: the financial institutions in the US are no example to follow, yet Barclay's in now having problems. Is Asia the only place left, or have we just not heard about abuses there yet?

  262. prabhakar_deosthali
    July 12, 2012

    Why not US is coming forward to solve the EY economic crisis? They are politically as well as economically supposed to the world Super power today.

  263. Ariella
    July 12, 2012

    @tech4people Or you could just become a teacher and get the whole summer off, as well as a winter and spring break.

  264. bolaji ojo
    July 12, 2012

    @Rich, Europe is actually still the world's biggest economic region. The purchasing power of the people (despite high debts) is very high and demand for necessary services and products has stabilized. The complaints about sales in Europe is that they aren't as high as they used to be but if you manage GE, Microsoft, Apple, HP, Dell, Lenovo, SAP, Intel, Samsung, HTC, Nokia, name the company, you want to be in Europe.

  265. FLYINGSCOT
    July 12, 2012

    That's all we need.  US running Europe (heehee)

  266. Anand
    July 12, 2012

    @Barbara, Asia has its own problem…problem in asian countries is of governance and corruption.

  267. Wale Bakare
    July 12, 2012

    @Anna, has that really helped  in boosting the economy?

  268. Jennifer Baljko
    July 12, 2012

    We can't underestimate the power that's been lost becuase of the banking problem.

  269. Barbara Jorgensen
    July 12, 2012

    @Jenn: The US has ther same issue–states vs. feds, but at least there are executive powers that override this. Does the EU have anequivalent?

  270. Susan Fourtané
    July 12, 2012

    @prabhakar: Maybe some you have seen take two hours for a lunch break but work later hours or don't take more breaks. It's relative. You can't really generalize for a couple of people. 

  271. mfbertozzi
    July 12, 2012

    @Bolaji/Jennifer/all: [part-2] after Lehman crack, some Govs have had to provide a funds policy,in order to avoid the crack of major national banks, increasing this way public debt till a gap which will be very hard to fill. Right now, this is the status of Spain, Greek, Italy, Irland a in part also France and a few countries in the Eastern region.

  272. Barbara Jorgensen
    July 12, 2012

    @anandvy: agreed.

  273. Jennifer Baljko
    July 12, 2012

    Sales are falling, bank aren't lending money, and innovation can't be funded on good thoughts and fairy dust.

  274. Ashu001
    July 12, 2012

    @Ariella-In the US,its only the School system-If i heard it rite,in Italy everyone in the Public sector gets 3 months off in sumer.

  275. bolaji ojo
    July 12, 2012

    @Barbara, Wait until the shoe drops in China! If you look at valuations of Chinese companies on Hong Kong Stock Exchange and Beijing exchange you may be scared. Investors know there's money to be made in China but they are wary of the opacity.

  276. Anand
    July 12, 2012

    @Barbara, countries like India are facing severe shortage of water because of lack of monsoon.

  277. Susan Fourtané
    July 12, 2012

    @prabhakar: in south Europe people tend to have long breaks at lunch time and work until late afternoon or evening- @Jennifer can confirm this. 

  278. Jennifer Baljko
    July 12, 2012

    It's this wretched cycle where every is squeezing every last dime out of costs, but beyond government and changes in regulations, companies need to start being more creative about how they fund projets. I don't where they'll get the money from, but wanting for EU governments to fix this crisis won't be adequate.

  279. Houngbo_Hospice
    July 12, 2012

    EU leaders use to remind US officials that they don't have any lesson to receive from the US in terms of economical crisis management

  280. Anna Young
    July 12, 2012

    @wale,there's a long term scope recovery plan. The consensus within Eurozone is to combine the austerity measure with some sort of stimulus to protect economic growth.

  281. bolaji ojo
    July 12, 2012

    @mfbertozzi, That's certainly a part of the puzzle for Europe. National governments have had to recapitalize financial institutions in France, Ireland, Germany, Spain. Remember, this happened elsewhere too, though.

  282. FLYINGSCOT
    July 12, 2012

    One thing Europe is bad for is bureaucracy

  283. prabhakar_deosthali
    July 12, 2012

    In France the month of August is when everybody moves out of cities and heads for the beaches  and industry apart, even the hotels are closed. That is a laid back life style

  284. mfbertozzi
    July 12, 2012

    @tech4people: I am not there, but I'm sure it does not.

  285. Wale Bakare
    July 12, 2012

    @Rich, “internet of things” and big data. what do you think?

  286. Jennifer Baljko
    July 12, 2012

    Susan – yes, some people ¬†in parts of southern Europe have long lunches…many, many others do not. It's an unfair generalization. Many are working under American models of business, and are almost at the poimnt where they have to bring brown lunch bags and eat at thier desk.¬†

  287. SunitaT
    July 12, 2012

    @Jennifer, so how to solve this financial crisis ? Is there any solution to come out of this crisis ?

  288. Anna Young
    July 12, 2012

    @ Wale, for example, a long term plan is to restucture pension liabilities to coexist with montery policies to encourage growth

  289. Ariella
    July 12, 2012

    @tech4peopple Possibly, but I do know of people with gov't jobs in the US who also get a great deal of vacation, not necessarily 3 months, but quite a few weeks plus unlimited sick days (hey, Verizon workers got that too) and days like Lincoln's birthday

  290. Nemos
    July 12, 2012

    only if we are united and only if we stop accusing each other for the fault we will surpass the crisis otherwise I dont think will be Eurozone in the coming years …..

  291. SunitaT
    July 12, 2012

    I think people should come out and start purchasing and stop being conservating so that it improves the overall sentiment.

  292. Ashu001
    July 12, 2012

    @Ariella-Yeah those were the good ol' days when everyone had defined benefit pension plans.

  293. bolaji ojo
    July 12, 2012

    @Jenn, What are the likely growth areas in high-tech in Europe? I know one area is internet connectivity where they seem to be far ahead of the U.S.

  294. Barbara Jorgensen
    July 12, 2012

    @Bolaji: I am scared already. I don't have a lot of insight into Asia, except that China can control its economy to a greater degree than ROW. Yet, it operates on self-interest alone. And that isn't working, if I understand correctly. Has China figured out we all swim or sink in a global economy?

  295. Anna Young
    July 12, 2012

    Nemos, I agree. The Eurozone leaders too recognizes this too

  296. bolaji ojo
    July 12, 2012

    I would also add productivity enhancement applications

  297. Nemos
    July 12, 2012

    Also Countries like Sweden,England etc should join the euro zone

  298. Wale Bakare
    July 12, 2012

    @Rich, “in terms of Europe”. yes

  299. Daniel
    July 12, 2012

    is any plan for MNCs in EU to pull more money for a better position in EU countries

  300. Houngbo_Hospice
    July 12, 2012

    “The crisis hasn't started with u s”, Eurozone leaders use to say

  301. Jennifer Baljko
    July 12, 2012

    Moving away from the lifestyle issues, I'm going to follow the Asia- Europe thread for a while.

  302. prabhakar_deosthali
    July 12, 2012

    Just recent news showed that Europe is incesting heavily in new technoligies in incubation. Does it indicate a long term hope to come out of this current crisis?

  303. Ariella
    July 12, 2012

    @Jennifer the European model of the long lunch was based on the tradition of the midday meal constituting dinner and the fact that people used to live close enough to where they worked to be able to go home then. In warm countries, it was also a time to break from the peak heat of the day to return later when it was cooler. However, as many people commute further today, it's not practical for many. In Israel some businesses used to close in the middle of the day, but I don't know if they still do.

  304. FLYINGSCOT
    July 12, 2012

    UK will not join Euro until countries like Greece and Ireland pull their weight.  it is a very complex and difficult problem to solve.

  305. bolaji ojo
    July 12, 2012

    @Barbara, China knows we all swim or sink together but that's not an open policy of the government. They'll push the rest of the world to the edge and be there with a helping hand to ensure we don't drag them down. Selfless actions won't determine winners and this is about winning even if it isn't a zero-sum game.

  306. prabhakar_deosthali
    July 12, 2012

    I mean to say investin – not incesting – sorry for the typo

  307. Susan Fourtané
    July 12, 2012

    @Nemos: Now it's quite unlikely that Sweden will join the EuroZone, as it's marching toward the first cashless economy in the world. It doesn't make sense to join now. 

  308. Wale Bakare
    July 12, 2012

    @Nemos, if they have great economic benefits in joining Euro zone they would have probably done. Not only them – Norway too.

  309. mfbertozzi
    July 12, 2012

    @Wale: (innovation) it is a good point, we don't forget Northen Region is on the top for broadband and mobile and recently in the Central Europe has been launched “post-digital future” that is exactly the way for combining electronics and phisical objects working together.

  310. Ashu001
    July 12, 2012

    @Barbara-The Mother of all Economic Crashes is coming-From China!!!

  311. SunitaT
    July 12, 2012

    @Bolaji, has China stopped manipulating its currency against dollor ?

  312. bolaji ojo
    July 12, 2012

    @Flyingscot, UK will not join the euro-currency. Period. It will jeopardize their economy and threaten London's status as the world's financial capital. You'll be amazed how much a country like the U.K. benefits from having trillions of dollars in investment flow through London daily.

  313. Susan Fourtané
    July 12, 2012

    Yes, @Ariella. That's right.

  314. Wale Bakare
    July 12, 2012

    @mfbertozzi, i agree with your assertion.

  315. Nemos
    July 12, 2012

    Yes thats it is true, but Eurozone now needs their help . Solidarity it is the key , dont see everything with economic terms

  316. Ashu001
    July 12, 2012

    @All-Highly,Higly recommended article on China's Crash in Barron's magazine

     

    online.barrons.com/article/SB50001424053111903857104577467200405790354.html

  317. Jennifer Baljko
    July 12, 2012

    The interesting thing about all this is that everyone is wanting to blame someone for the crisis and want one big country to the world, whether it's the US, China or Germany. Folks, we're in a global economy… tech industry especially wanted a global market, so now it's funny to me to think that only one or two or three economies willl bouy the rest.

  318. Susan Fourtané
    July 12, 2012

    @Jennifer: Exactly. It's an unfair generalization, just like all the generalizations. 

  319. Anna Young
    July 12, 2012

    I think Europe is indicating a good and compelling starting point for investment.It is ideal for a long term investors.

  320. Jennifer Baljko
    July 12, 2012

    When China hits a recession, what is the world going to do? Act the way the EU is? If so, we're going to be having this same web chat in a couple years.

  321. Ashu001
    July 12, 2012

    @Rich-I agree.Its amazing,how much people expect from china nowadays!!

  322. Wale Bakare
    July 12, 2012

    @Rich, i think majority of the European nations do. With Nokia struggling that's helping the situation either.

  323. FLYINGSCOT
    July 12, 2012

    How is US going to get out of its debt mountain.

  324. Ashu001
    July 12, 2012

    @Jennifer-Yeah.China is in worse shape than even Europe today.

  325. Daniel
    July 12, 2012

    Jen, any idea how EU can overcome the current crisis

  326. Susan Fourtané
    July 12, 2012

    @Nemos: Sweden is stopping printing money. Why should they bother in start printing yet a new currency for a little while? 

  327. Ashu001
    July 12, 2012

    @Flyingscot-PRINT,PRINT,PRINT

  328. Jennifer Baljko
    July 12, 2012

    tech4people – thx for the link. will check it out.

  329. prabhakar_deosthali
    July 12, 2012

    What could be called as EU's strength , which can help it wather the current crisis?

  330. Wale Bakare
    July 12, 2012

    @Rich Sorry — struggling that's not helping the situation I meant.

  331. mfbertozzi
    July 12, 2012

    @Wale/@Bolaji/all: we could also outline just a few days ago Italian scientist @CERN has explained boson Higgs discover and the physical scientist Mr Federico Faggin (which has invented which has invented the microprocessor) is candidate to the Nobel.

  332. bolaji ojo
    July 12, 2012

    @Everyone, Over the next few weeks as high-tech companies announce results starting next week EBN bloggers and contributors will be examining the results to sift out the impact of Europe on the sector. We will also review forecasts to determine expectations. See: earnings calendar .

  333. FLYINGSCOT
    July 12, 2012

    @tech4people….I agree they will print and devalue their debt then tell the RoW to stuff it.

  334. SunitaT
    July 12, 2012

    @Bolaji, thanks for the earnings calender. It would be easy to follow the results.

  335. Barbara Jorgensen
    July 12, 2012

    Jenn: agreed. Finger-pointing is a waste of time, yet the politicians have to look “tough” to their constituents. The last time the global economies pulled together in the interest of survival was WW2, adn even then it was an “us” vs. “them.” There is always a devastating loser. And it doesn't seems like we have evolved much–now, the weapon of choice is currency and exports.

  336. mfbertozzi
    July 12, 2012

    @Bolaji: thery interesting link.

  337. Jennifer Baljko
    July 12, 2012

    Jacob – i think it will take a while before see recover. I think conversations need to move more towards growth. If some of the EU central banking things can be better addressed and bank can start making loans to small businesses and approving corporate innovation, I think we could see some ripples of positive growth next year this time. But, honetsly I don't know. Everyone is being swallowed into this austerity pit (at least here in Spain)

  338. Wale Bakare
    July 12, 2012

    @Prabhakar_deosthali, good question. I like that!!!

  339. bolaji ojo
    July 12, 2012

    @Prabhakar, Europe's strengths include the following: A large population, educated and highly motivated workforce, strong residual household wealth, developed infrastructure that continues to entice companies, transparent and reasonably good law system, stable political system, democractic governments, innovative systems and the ability to absorb investments.

  340. Jennifer Baljko
    July 12, 2012

    Like Bolaji said… earning seasons is coming up. I'm expecting to hear more of the same stuff we've been hearing for the last few quarters. I hope I'm proven wrong.

     

  341. Nemos
    July 12, 2012

    Also dont forget that behind numbers are always people, for example in Greece now everyday people commit a suiside because of the austerities measurements.

  342. mfbertozzi
    July 12, 2012

    @RichK: I agree, I am convinved it will happen.

  343. Ashu001
    July 12, 2012

    @All-In a lot of ways,I think Europe's problems are self-inflicted.If they just get out of the Common Currency and go their seperate ways in the space of 6 months-1 year their problems will be solved through Inflation

  344. Anand
    July 12, 2012

    @Bolaji, today Infosys declared its results (IT giant in India). The Q2 guidance is not at all optimistic and expectedly stock fell 10% today.

  345. Ashu001
    July 12, 2012

    @All-On the other hand in China's case its a question of handing more control over to the People-something which is anathema to the way the Communist party is run today.So their transistion will have to be more violent and painful.

  346. Daniel
    July 12, 2012

    Jen, what about the investment opertunities in EU

  347. Anna Young
    July 12, 2012

    Rich Eu strength is the common market.

  348. Jennifer Baljko
    July 12, 2012

    Whoa, something strange just happened.

  349. Wale Bakare
    July 12, 2012

    @Rich, i want to challenge this – natural resources?

  350. prabhakar_deosthali
    July 12, 2012

    Europes old glory Рthe main attraction for the tourists is being given tough competion by the countries in Asia  РSingapore, Thialand, Malaisia  with the new modern style tourist attractions.

    If Europe could revive its toursim industry!

    Country like Singapore is making its daily bread partly on tourim

  351. Jennifer Baljko
    July 12, 2012

    The whole chat is cycling through again….Bad computer!!!! Argh! Waiting to see the latest comments….

  352. Houngbo_Hospice
    July 12, 2012

    @Bolaji: Is that the listing of EU current strenghts? I am not sure the still have a large population and an educated and highly motivated workforce.

  353. Anand
    July 12, 2012

    @Jennifer what strange thing happened ?

  354. Ashu001
    July 12, 2012

    @All-and people also tend to forget that China has another problem-Horrible Demographics!!! Thanks to their one child policy it is going to increasingly quickly run out of employees!!!

  355. Anna Young
    July 12, 2012

    @Prabhakar, isn't that what we called global economy?

  356. Jennifer Baljko
    July 12, 2012

    OH, FYI on the earnings thing… I know some of the major European tech companies will be reported week of Jul 23… I'll likely cover some of them in my weekly blog post.

  357. Nemos
    July 12, 2012

    @ALL : Also dont forget that behind numbers are always people, for example in Greece now everyday people commit a suicide because of the austerities measurements.

  358. bolaji ojo
    July 12, 2012

    @Hospice, Europe is still the world's largest market. They don't have the largest population. China does but in terms of purchasing power, Europe is bigger than any other region.

  359. Wale Bakare
    July 12, 2012

    @HH, they do. highly motivated workforce but too many stricter regulations …

  360. Susan Fourtané
    July 12, 2012

    @Jennifer: refresh your browser to get the latest posts again

  361. Barbara Jorgensen
    July 12, 2012

    @Jenn: I am sure this is my fault…Ihave a black cloud hanging over every computer I touch this week

  362. prabhakar_deosthali
    July 12, 2012

    It will be long before China faces manpower crunch. They are so much overpopulated!

  363. mfbertozzi
    July 12, 2012

    @RichK: absolutely yes, definitely; we don't forget WWW was born @ CERN, grids archicteture for current smart networks/cities/homes were born @ CERN, I am confident similar events will happen again, they could boost also current crisis on jobs.

  364. Houngbo_Hospice
    July 12, 2012

    @Bolaji/Wale: I see!

  365. Ashu001
    July 12, 2012

    @Bolaji-I agree.Europe has many inherent strengths in place that people tend to overlook.

  366. Barbara Jorgensen
    July 12, 2012

    So…what have we learned today?

  367. Jennifer Baljko
    July 12, 2012

    Hi – chat is cycling comments randomly sometimes they are old news and sometimes new ones…..I wish it would stop.. I feel like I'm in a time warp….¬†

     

  368. FLYINGSCOT
    July 12, 2012

    We have learned that lively discussion is always fun.

  369. bolaji ojo
    July 12, 2012

    @Jenn, You've been a trooper and we are about to wrap up anyway. A standing ovation for Jenn please.

  370. Barbara Jorgensen
    July 12, 2012

    Jenn: It's me. I am the Black Plague of PCs.

  371. mfbertozzi
    July 12, 2012

    @Barbara: knowing the past for planning better the future.

  372. Jennifer Baljko
    July 12, 2012

    Barbara – Good question – what have we learned today…. I'd say we are still trying to figure what the heck is going on here. That folks are following it closely, and everyone's knocking wood for better days ahead =)

     

  373. Barbara Jorgensen
    July 12, 2012

    WAY TO GO JENNIFER!

  374. Wale Bakare
    July 12, 2012

    @Prabhakar, yes overpopulated and well edcuated —yet you see them every studying.

  375. Houngbo_Hospice
    July 12, 2012

    @Barb: I've learned that the eurozone crisis is far to be over and some countries may have to leave the euro boat

  376. Barbara Jorgensen
    July 12, 2012

    I have learned I will never, ever take my PC for granted again.

  377. FLYINGSCOT
    July 12, 2012

    Need to run….thanks everyone and bye

  378. SunitaT
    July 12, 2012

    @Barbara, we learnt Europe is in deep mess and its hard to come out of it.

  379. bolaji ojo
    July 12, 2012

    @Everyone, a Quick Poll. Would you invest retirement funds in Europe today and if not, which continent gets your dough?

  380. Jennifer Baljko
    July 12, 2012

    Bolaji – did you just ask for a standing ovation? Thanks. Right back to you. Applause to everyone on the call. Thanks for joining us.

  381. Daniel
    July 12, 2012

    Jen, Thanks for sharing your insight about EU and the crisis

  382. prabhakar_deosthali
    July 12, 2012

    Asia for me!

  383. Nemos
    July 12, 2012

    YES Bolaji YESSSS

  384. SunitaT
    July 12, 2012

    @Bolaji, I wont invest in Europe. I will invest it in India because Fixed deposits fetch cool 10% returns.

  385. bolaji ojo
    July 12, 2012

    I will watch for the response. In the meantime, thanks to everyone and especially Jenn's computer for not tripping up in the first five minutes.

  386. bolaji ojo
    July 12, 2012

    @Rich, I promise the IRS isn't watching this space. You can be upfront with us!

  387. Jennifer Baljko
    July 12, 2012

    Hmm- would I invest in retirement funds now here or anywhere… Bolaji did I see that question somewhere. I prefer my grandmother's investment strategy – put money in a can under your bed. =)

  388. prabhakar_deosthali
    July 12, 2012

    Good Tirlapur! you get higest interest rate in India!

  389. Ashu001
    July 12, 2012

    @Bolaji-Retirement funds would be split between US,Europe,Indonesia,Brazil and India.

  390. Nemos
    July 12, 2012

    @tirlapur where are you from ?

  391. SunitaT
    July 12, 2012

    @Nemos from India.

  392. Ashu001
    July 12, 2012

    Jenn-Not a bad idea-I hear the Greeks are past masters at this!!!

  393. Houngbo_Hospice
    July 12, 2012

    In the meantimes, don't forget to invest in Africa

  394. mfbertozzi
    July 12, 2012

    @Bolaji: why not?

  395. bolaji ojo
    July 12, 2012

    Thank you all and have a great weekend. Don't forget to chime in on all the blogs. We love to hear from you.

  396. Susan Fourtané
    July 12, 2012

    @Jennifer: Thanks for today. 

  397. Ariella
    July 12, 2012

    @Bolaji my son (who has yet to earn money) declares that gold bars are the best investment

  398. Nemos
    July 12, 2012

    tech$people ? what ?

  399. Anna Young
    July 12, 2012

    Bye all.

  400. Daniel
    July 12, 2012

    Thanks, Bolaji, Barb and Jen

  401. SunitaT
    July 12, 2012

    @Jennifer , Bolaji thanks for hosting this chat.. Really informative.

  402. bolaji ojo
    July 12, 2012

    @mfbertozzi, Yes, it is for me, by the way.

  403. SunitaT
    July 12, 2012

    Bye all

  404. prabhakar_deosthali
    July 12, 2012

    In my opinion EU should stay together and fight the crisis and not break away!

  405. Ariella
    July 12, 2012

    Thanks, Jennifer, Bolaji, and Barbara, and a good weekend to all!

  406. Barbara Jorgensen
    July 12, 2012

    Hi all: Didn't see my last post: kudos to Bolaji for many things. Thanks Jenn, and to all our readers.

  407. bolaji ojo
    July 12, 2012

    @Ariella, Your son is smarter than many of us.

  408. Jennifer Baljko
    July 12, 2012

    Thanks Bolaji. And thanks again everyone. See you in the blogsphere. Have a good week/weekend.

  409. Ashu001
    July 12, 2012

    @Ariella-Dont get too excited abt Gold,Just like FDR any new AMerican Govt can straightaway steal your Gold!!!

  410. Susan Fourtané
    July 12, 2012

    @Ariella: that's nice. ūüôā¬†

  411. prabhakar_deosthali
    July 12, 2012

    Thanks everybody, Bolaji, barbara, and Jennifer

    Bye!

  412. Houngbo_Hospice
    July 12, 2012

    See you, all!

  413. mfbertozzi
    July 12, 2012

    @Jennifer/Bolaji/all: many thanks for your time. See you in the blog soon. Bye!

  414. Ashu001
    July 12, 2012

    @Ariella-I highly recommend u read up on Executive ORder 6102 and what FDR did with Gold Owners.Not good stuff!

  415. Anand
    July 12, 2012

    Thank you Bolaji and Jennifer

  416. Anand
    July 12, 2012

    @tech you on skype ?

  417. Nemos
    July 12, 2012

    tech$people it is not nice to speak like that …..

  418. Susan Fourtané
    July 12, 2012

    @tech4… Being a bit positive doesn't hurt.¬†

  419. Nemos
    July 12, 2012

    @rich read what he wrote with bold letters …..

  420. Ashu001
    July 12, 2012

    @Anand-yes I am.

    User ID-ashish.ulhas

  421. Nemos
    July 12, 2012

    tech4people where are you from ?

  422. Nemos
    July 12, 2012

    me either ūüėČ

  423. Ashu001
    July 12, 2012

    @Nemos-Everywhere and nowhere

    !!!

  424. Nemos
    July 12, 2012

    but you are open mind person why you say comments like that “ask the greeks …”

  425. Nemos
    July 12, 2012

    ok bye all , see you on the msg – Boards

  426. Susan Fourtané
    July 12, 2012

    Respect Greece, people, the land of some of the great Philosophers that have existed in the world in all times. 

  427. Ashu001
    July 12, 2012

    @Nemos-Yes.I am.Its gud to be open always!

  428. Adeniji Kayode
    July 12, 2012

    Hi everyone

  429. Adeniji Kayode
    July 12, 2012

    Hi everyone, i cant read any activity going on here

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