Daily Archives: November 5, 2014

Opinion – European Commission slashes eurozone forecasts – FT.com – John Gelmini

November 5, 2014 By in Austerity, Business Administration, Cyprus, Energy Policy, Foreign Policy, Growth, Politicians, Politics, Reform Leave a comment

Yesterday Dr Alf will recall the upbeat messages from the German Finance Minister in which we were being told about the progress Europe was making.

I questioned this optimism and said that I wanted to be shown the results of these policies before I placed any faith in them.
Today, we learn that all the forecasts are being revised downwards bar one, Cyprus.

The EU, excluding Cyprus, is going to produce less than 1% growth next year, which is 2% less than what is required for full employment.

With inflation factored in, Europe is going backwards, is exporting virtually nothing (except for Germany, armaments from BAE Defense Systems and luxury items and super-cars from Italy).

Cyprus is hopefully going to show bright promise through the discovery of offshore gas reserves, greater investment from China and more income from tourists and tax exiles, looking for a more peaceful and less frenetic life surrounded by great natural beauty.

John Gelmini

Opinion – French nuclear plant hit by another mystery drone flyover | The Japan Times – John Gelmini

November 5, 2014 By in Business Administration, Defense Policy, Energy Policy, Foreign Policy, France Leave a comment
The nuclear power plant of Dampierre-en-Burly,...

The nuclear power plant of Dampierre-en-Burly, France (Photo credit: Wikipedia)

One wonders whose drone it was and why the French are incapable of defending their own airspace.

Like Dr Alf, I worry about the risks because if terrorists have got a hold of a drone, in proximity to a nuclear plant, the risks are horrific.

If it is a foreign power testing how vulnerable Europe is to being shut down, then Europe not just France is in trouble.

The UK is already in trouble on energy because it lacks a proper margin of supply over demand and could easily be shut down by either a hard winter or blocking the entrance to the Port of Felixstowe at the A14 junction.

If the drone belongs to France and they are testing their own defenses fair enough, but I worry that the explanation is more potentially sinister.

John Gelmini