By Alan Wheatley – If Europe wants first-class infrastructure and a comprehensive welfare state without piling up ever more debt, governments need to shake up working habits to generate the growth that spins off tax revenues.
“Even if Europe were firing on all cylinders, it would be one of the slowest growing regions in the world,” said Douglas Roberts, chief international economist at Standard Life Investments in Edinburgh.
The rise of China and India, of Brazil and Turkey, deals a double blow to Europe.
They can manufacture more cheaply, signing the death warrant of many labor-intensive industries in Europe and keeping a lid on wages. more> http://tinyurl.com/c7rrovm
Posted in Business, Economic development, Economy
Tagged Alan Wheatley, Brazil, China, Edinburgh, European Union, India, Industrial economy, Jobs, Super regions, Turkey
CONGRESS WATCH Statement on the 97th Anniversary of the Armenian Genocide April 24, 2012, US Senate S.RES.399 — Affirmation of the United States Record on the Armenian Genocide Resolution, Library of Congress Related articles Updates from Senator Barbara Boxer (theneteconomy.wordpress.com)
By Louise Armitstead – Despite being poor, the Greek government has for decades sought to be generous to its people. Historians point to the war-torn decades, including a civil conflict after the Second World War that wiped out 10pc of the population followed by bloody clashes between Cyprus and Turkey in 1974: the Greek state has tried to soothe its people by creating a big welfare state and generous pay and pensions – including low retirement age and the famous 13th and 14th monthly salaries.
When it came to joining the euro in 2001, it should have been obvious that Greece did not meet the debt conditions. But, by spinning the numbers, Greece gained entry, not just to the single market but to debt markets that allowed it to borrow as though it was as dependable as Germany. more> http://is.gd/vvLIvE
Posted in Banking, Economy, Leadership
Tagged Capital, Cyprus, Deficit, Financial crisis, Germany, Government, Greece, Politics of Greece, Turkey, World War II
NASA – This unusual image was photographed through the Cupola on the International Space Station by one of the Expedition 30 crew members.
The lake just above the bracket-mounted camera at center is Egirdir Golu in Turkey, located at 38.05 degrees north latitude and 30.89 degrees east longitude. A Russian Soyuz spacecraft is docked to the station at lower right and part of the Permanent Multipurpose Module (PMM) can be seen just above it.
The photo was taken on Dec. 29, 2011.
Posted in Science, SPACE WATCH, Technology
Tagged Cupola, Earth, Expedition 30, International Space Station, NASA, Permanent Multipurpose Module, Soyuz, Space, Turkey