Neglecting motivation, skills and digital literacy in work force risks losing Europe’s competitive advantage – Post originally published by Euro Insight, 18 November 2015.
The need to boost investment across Europe is undisputed and well documented. Since 2008, both private and public investment contracted: gross fixed-capital formation as a percentage of GDP fell from 22.2% in 2007 to 18.5% in 2013, and there are still no signs of recovery.
It really looks like we are not learning from our mistakes. This whole situation between Greece and its international creditors is becoming ridiculous.
Here, the two points that are striking to me:
We have learnt nothing from economics. How come that current negotiations keep on discussing and putting forward economic provisions that proved to be wrong? (and by wrong here I mean that had pro-cyclical effects, i.e. contributed to recession rather than to growth and prosperity)
We have learnt nothing from politics. How come that we haven’t realized yet how bad it is to continue with externally imposed measures on a country and its population? (and by bad here I mean that it reinforces, gives arguments and vigor to those extremist or Eurosceptic forces which are threatening European integration and are growing in several countries)
I will discuss these two points in more detail and then move on to see whether it is possible to find some points on which there is agreement and propose the establishment of a table on investment for Greece. Continue reading →