The relations that Europe and the United States maintain and have to maintain with Latin America could be the solution to the crisis. Aspenia Institute and Enel have organized a conference on the possible new dynamics of the international economic scene.
What is needed is “economic, and hence political, integration, without which Europe is in danger of being crushed between the US and the growing strength of the economies in the developing countries of South America
Political dynamics, fiscal rigor, economic growth. What are the possible scenarios for the future of America and the European Union? The United States of Barack Obama’s administration, after a 2012 marked by a public debt at 109% of the GDP and a public deficit twice that of the eurozone, is showing the first signs of recovery. Focusing also on relocations in 2013, its industrial production is expected to return to the pre-recession level. In the European Union, however, the trend seems to be the opposite. “There is progress, but without any economic recovery.” And there is a problem of governance: decisions are made at the national level, whereas what is needed is “economic, and hence political, integration, without which Europe is in danger of being crushed between the United States and the growing strength of the economies in the developing countries of South America.” This reflection was made by the President of Enel, Paolo Andrea Colombo, who opened the meeting The two Americas and their possible recovery, moderated by Maurizio Caprara of the newspaper “Corriere della Sera,” on February 5th at the Aspen Institute Italia in collaboration with Enel, for the 59th issue of the magazine “Aspenia.” Those participating in the debate included Marta Dassù (Undersecretary for Foreign Affairs and director of
“Aspenia”), Ian Lesser (director of the German Marshall Fund), and Charles Kupchan (director of European Studies at the Council on Foreign Relations). Kupchan explained that “the priority for the United States now is to go back to having a strong economy.” This does not mean a more closed approach but one that is “more selective” in its relations with other countries, encouraged by an attitude toward the euro that is less “anxious’” today. What instead is worrisome is the international fate of the possible exit of the UK from the EU, suggested recently by David Cameron. But to Robin Niblett, director of Chatham House, this is a remote hypothesis. “A similar strategy would be detrimental both to the UK and to Europe.” The essential question, rather, is the crisis of growth, the need to create opportunities for work, trade, and development abroad. And in this sense, Latin America is an essential resource, as the CEO of Enel, Fulvio Conti, and the president of Techint Group, Gianfelice Rocca, have pointed out. It has demographic resources, raw materials, and energy. And very interesting areas such as Mexico and Brazil. “A huge effort of productivity is needed,” said Rocca, which means “a great problem of social sustainability.” It is an extremely vast area where “industrial policy needs to be created and Europe can play a vital role in this.”
focus
The two Americas and their possible recovery by Anna Franchin
061