A Quote by Dalia Grybauskaite
Some countries need extra stimulus in specific areas. Something has to be done against high youth unemployment in Greece and Spain, for example. But in the end, there is no way around it: The debt levels have to come down.
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You talk to any of the job creators, and they'll tell you one of the things that concerns them the most is the debt. And so high levels of indebtedness are going to lead to high levels of taxation, which lead to high level of unemployment.
Economic polarization is also occurring between creditor and debtor nations. This issplitting the eurozone between Germany, France and the Netherlands in the creditor camp, against Greece, Spain, Portugal, Ireland and Italy falling deeper into debt, unemployment and austerity - followed by emigration and capital flight.
No country has a perfect report card. While some countries have strong points in specific areas, they may have serious lacunae in other areas. For instance, some countries have made enormous progress on civil and political rights, but lag in the implementation of economic, social and cultural rights.
Free migration within Europe means that countries that have done a better job at reducing unemployment will predictably end up with more than their fair share of refugees. Workers in these countries bear the cost in depressed wages and higher unemployment, while employers benefit from cheaper labor.
The world is beset by challenges including the ongoing danger of international terrorism, and the significant political and economic threats posed by factors such as the high levels of corporate and sovereign debt and persistent unemployment.
All of the progress that the US has made over the last couple of centuries has come from unemployment. It has come from figuring out how to produce more goods with fewer workers, thereby releasing labor to be more productive in other areas. It has never come about through permanent unemployment, but temporary unemployment, in the process of shifting people from one area to another.
First of all, Greece won't go down. We're talking about a country that is capable of making change. Europe will not allow the destabilization of the 27-country euro zone. But if there were no action, then markets would start becoming jittery about other countries - and not only Spain and Portugal, but other countries in the European Union.
Some countries were able to turn their manufacturing operations into advanced technology areas. South Korea is a great example of this, and manufacturing there is done using advanced technological methods.
Enterprise Washington is economic development in areas of high unemployment around the state of Washington.
The fact is in a city like Chicago, for example, unemployment in the black community is around 20 percent for adults, 35 percent for youth, they bail out the banks, public schools, there is a deep divide. We need a plan for reconstruction and redevelopment and I hope that - police are the gatekeepers but behind that gate are these problems of disparities and injustice.
Greece is at a dangerous crossroads. Other countries-Portugal, Ireland, maybe Spain-are coming behind it.
There's no question at all that the population explosion will come to an end. The two basic choices are it'll come to an end because we control our reproduction, and in many areas we have started to do so, or we'll end up with a high death rate. You have to take a personal moral stand on this.
One needs a comprehensive concept that decides just how much debt states like Greece, Ireland, Portugal, Spain and Italy can sustainably bear.
Giving Northern Europe a veto over Southern Europe's budgets will not hold a monetary union together. The euro zone will continue to need the weaker countries to stomach decades of high unemployment to grind down wages.
For highly indebted governments, low interest rates are critical to keep debt levels sustainable and ease pressure to restructure debt and recapitalize banks. The shift to a high sovereign-debt-yield equilibrium would make it impossible to achieve fiscal balance.
There are two major problems that come out of COVID-19: the massive unemployment that is destroying the revenues for our programs, the paychecks for our families, and the sense of purpose for our workers. The second is the astronomical levels of household government and corporate debt.
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