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How can Europe avoid "a lost decade?"

By Rahul Venkit (Xinhua)

08:49, January 31, 2012

BRUSSELS, Jan. 30 (Xinhua) -- While the world contemplates reasons for and solutions to fickle global growth in Davos, European Union officials in Brussels are preoccupied with two significant tasks.

The first, arguably of short to middle-term importance, is preparing for the European Council on January 30.The second, more herculean challenge is of pushing through European integration, both fiscal and economic, which will likely keep Brussels busy through 2012 and well beyond.

Should Europe seriously falter along the way, however, there are some who fear "a lost decade" for the old continent.

"The eurozone will never have spectacular economic growth, but some growth can be assumed from 2014 or 2015," said Zsolt Darvas, research fellow at the Bruegel think tank in Brussels.

"But if the eurozone collapses, there will be a dramatic economic crisis, and then, indeed, the whole decade will be lost," he warned.

Some statistics seem to corroborate this worry. This week, the International Monetary Fund predicted the world would grow 3.3 percent this year, with advanced countries only expected to grow a modest 1.2 percent. The latter is, however, contingent on Europe finding a comprehensive solution to its sovereign debt crisis.

It is this "comprehensive solution" that has been sorely missing so far, feel analysts. A rollercoaster 2011 marked by one sovereign debt crisis after another meant the EU has focused predominantly on firefighting and paving the path for the colossal job of getting its member states' houses in order.

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PD User at 2012-02-07203.218.78.*
The expansion of the EU membership too rapidly on ideological ground after the end of the Cold War is on reason leading to such chaotic situation. The second reason is the "end of history" of ideological evolution of liberal democracy. When everything come to its peak/climax/end of evolution, it is naturally a rapid downfall. The current debt problem in the US and EU show us the worst scenario that liberal democracy can bring. Political competition means competition to give free meals and change of government policy after each election. If a nation or a union cannot have a long-term planning, it certainly cannot survive long. Liberal democracy might be another ideology to collapse after communism. However idealistic ideologies are, they are made by man and subject to abuse. Deng Xiaoping is more wise by suggesting that "It doesn"t matter whether it is a yellow cat or a black cat, a cat that catches mice is a good cat."
PD User at 2012-02-07203.218.78.*
The expansion of the EU membership too rapidly on ideological ground after the end of the Cold War is on reason leading to such chaotic situation. The second reason is the "end of history" of ideological evolution of liberal democracy. When everything come to its peak/climax/end of evolution, it is naturally a rapid downfall. The current debt problem in the US and EU show us the worst scenario that liberal democracy can bring. Political competition means competition to give free meals and change of government policy after each election. If a nation or a union cannot have a long-term planning, it certainly cannot survive long. Liberal democracy might be another ideology to collapse after communism. However idealistic ideologies are, they are made by man and subject to abuse. Deng Xiaoping is more wise by suggesting that "It doesn"t matter whether it is a yellow cat or a black cat, a cat that catches mice is a good cat."
Jean-Francois Morf at 2012-02-0631.31.51.*
The super-richs have all the wealth, so economy don"t work anymore!Rothschild family wealth: 0,1 Peta $ Rockefeller family wealth: 0,01 Peta $Abdallah, Ben Ali, Mubarak, Gaddafi, Assad, Ayatollahs, Suharto, Bush and other head of states are often richer then Bill Gates (0,00005 Peta $)In shareholders lists, the super-richs are hidden as "Bank of England Nominees" but their biggest assets are lands.
DeNiro at 2012-02-02178.199.68.*
Collapsing of European Union would be the best thing that could happen to the world. Those arrogant hyenas ready to send their armies and kill people all over the world like in Iraq, Serbia, Lybia, Afganistan, Pakistan, don"t deserve any financial support. They have become ordinary parasites not being able to show any respect for other cultures and nations.They have united with only objective to bully others, especially small countries, but also Russia and China, and plunder their resources. Otherwise, why rushing to accept Blatic republics, Romania and Bulgaria? European Union will never work, that"s a conglomerate of countries that has nothing in common. The only common idea is to push Africa, Latin America and Middle East countries into chaos, and then get their resources for free.One should be happy that they are not successful in their "vision".
romanov at 2012-02-0180.94.16.*
2012-1-31.To fire with european politic and to put Barrosa, Merkel,Sarkozy and other's in prison.Their decission and to run UE to take all union to waste crisis.Waste union and countrys fund's.Unfortunately inep's politician still to wait exercise power,In normal companu inept manager to throw to cobbeld.So still to be eternal crisisand next lose decade's all UE.Needed new peoples no the church's bigot's and hypocrites.They should to learn on university's chinese economy.But it blockhead's.
  

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