FROM THE EDITOR
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Easing the Euro-groan A trying 12 months for Europe has proved a painful eye-opener for many nations, but with lessons learnt, 2011 promises to be better for all.
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naking wearily out the doors of numerous oficinas de empleo (job centres) in cities throughout the country, it is understandable that Spain’s 4.6 million jobless can barely muster a smile at news that much of the EU is finally on the up. In a country with 20 percent unemployment, Spain’s jobless figures are almost double the EU average. In Germany – the EU’s best-performing economy – that figure is a mere 7.5 percent: the lowest unemployment rate since December 1992. Such stark imbalances between two countries that share a currency and have a longstanding affinity with one another (Germans love Spain’s Majorcan beaches and weather, while Spaniards who can afford to snap up luxury Audis, BMWs and Mercedes with an almost slavish-like passion) are worrying. The European Union brought much good to Spain. This vast, hot and mountainous country had, outside of the major cities, a thirdworld infrastructure just a few years ago, but billions of EU money has transformed Spain into one of Europe’s best examples of gleaming efficiency, sympathetic gentrification and an energised population. But now the party feels over. The construction boom that came to characterise Spain over the past decade now lies unfinished in the dust; immigrants formerly welcomed with open arms are being actively encouraged (even paid) to leave and not return for at least three years, and Spain’s young and educated are looking for ways out of the country, eager to move wherever they can in order to find work. For Spain read Greece. Or Ireland. Or even Portugal. Four of Europe’s proudest, most historic and beloved nations have suffered terribly in 2010. The benefits wrought by their accession to a single currency have now turned to bedevilment and bailout. German, French and even British taxpayers have stumped up the
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loan cash to help out their neighbours in need, much to the chagrin of many. The entire year has been an unedifying spectacle of joblessness, austerity, protests, riots, faintly concealed xenophobia and dejection. Most European countries will be happy to turn their back on 2010 and look forward to a 2011 that is more positive and hopeful. And the signs are that, finally, many nations in Europe can begin to ease their belts somewhat as the year draws to a close. Germany, the Scandinavian nations, Switzerland, France, the Netherlands and the UK have all returned to varying levels of economic growth. Lessons have hopefully been learnt and the knock-on, trickle-down effect of increased consumer confidence in these nations will hopefully prove beneficial for their continental neighbours. Yet there is still much to be learnt, from Berlin to Bilbao, about how to avoid another crisis of similar magnitude. The banking system, as we all know, needs a serious overhaul and better regulation. But governments and businesses throughout Europe should take this opportunity to truly assess their own practices and attitudes, and work towards a better, fairer and more rounded future for the whole of Europe. It can be done, as this Recovery Special attests. So here’s to a happy, profitable and productive 2011 for all of Europe.
Ian Clover Editor
“People are going to have to work for longer because they are living longer. They are healthier, which makes them more expensive, so they are going to have to work a bit better.” Rachel Krys, Campaign Director at the Employers Forum on Age (P36)
“When reformed offenders are locked out of industry, there is only one industry left for them to turn to – the criminal industry. Surely people would rather have reformed offenders as taxpayers themselves, rather than a burden to taxpayers?” Bobby Cummines, Chairman and Founder of UNLOCK, the National Association of Reformed Offenders (P44)
07/12/2010 13:23