Opinion – The economic potential of the ten-point Juncker Plan for growth without debt | European Parliamentary Research Services – John Gelmini

Map of the European Union and Norway.

Map of the European Union and Norway. (Photo credit: Wikipedia)


As Dr Alf says this is impressive and deserves proper attention, plus bottom up costings and independent risk assessment plus mitigation.

All that said, the hard bit is going to be getting this to happen in those European economies which do not run with Teutonic efficiency and which lack the directors of businesses capable of delivering export led growth in sufficient quantity.

This is not going to be achieved in the home markets of Europe or from adjacent countries like Norway, so there will have to be a concerted effort to develop language skills quickly, increase export salesperson numbers and improve the rate of successful new business start-ups in areas where export led growth is possible.

I hope it works but the EU’s record over the last 30 years does not inspire confidence.

John Gelmini

Opinion – The Italian pension affair and the concept of intergenerational equality| Silvia Merler at Bruegel.org – John Gelmini

To answer Dr Alf’s question, the answer is ‘no’ because most existing pensioners in Italy, or anywhere else, are on fixed incomes.

Pensioners, in the future, should get their pensions at a later age, as happens in the UK where the NI system became insolvent in 2000. This was never reported to the public but I saw the correspondence between four leading pension providers and the Treasury in 1998 which described what would happen.

The problem with Italy is a lack of taxpayers and a low rate of family formation. By exporting more of the things that people want, jobs and taxpayers can be created but at present the discussion seems to center on the division of existing spoils rather than the necessity for new monies to pay for an increasingly ageing population. More of these pensioners should be encouraged to startup micro businesses instead of gossiping, drinking coffee and imbibing wine but old habits die hard.

The young in Italy, like the young in the UK need to wake up, learn relevant languages, acquire relevant skills, training, learn NLP and how to sell, and then migrate to where the work is, just like my parents did many years ago.

John Gelmini


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