Thursday, December 18, 2008
[IWS] ETUI: THE ECONOMIC & FINANCIAL CRISIS IN EUROPE: addressing the causes and the repercussions [18 December 2008]
IWS Documented News Service
_______________________________
Institute for Workplace Studies----------------- Professor Samuel B. Bacharach
School of Industrial & Labor Relations-------- Director, Institute for Workplace Studies
Cornell University
16 East 34th Street, 4th floor---------------------- Stuart Basefsky
New York, NY 10016 -------------------------------Director, IWS News Bureau
________________________________________________________________________
European Trade Union Institute
ETUI-REHS
European Economic and Employment Policy Brief
Andrew Watt
No. 3 2008
The economic and financial crisis in Europe: addressing the causes and the repercussions [18 December 2008]
http://www.etui.org/research/Media/Files/EEEPB/2008/3-2008
[excerpt]
This article looks at the extent of the challenge facing European policymakers as a result of the crisis. It provides an analysis of the current economic situation, looks at the forces that have driven the European economy off what had until recently been a quite decent and seemingly sustainable growth trajectory, and considers how deep and protracted the downturn is likely to be. From this it concludes that, unlike the United States, where a prolonged and serious downturn is inevitable, the European economy could be steered relatively swiftly out of the mess, provided decisive policy action is taken. The article then proposes a set of five essential steps that need to be taken in the short term at European and national level to arrest the downturn, and points out areas requiring substantial 'structural reforms' in the medium term. Given the serious questionmarks as to whether European policymakers will do the right thing, one can be no more than conditionally optimistic about the medium-term prospects. A 1929-scenario is far from inevitable, but it remains a possibility.
______________________________
This information is provided to subscribers, friends, faculty, students and alumni of the School of Industrial & Labor Relations (ILR). It is a service of the Institute for Workplace Studies (IWS) in New York City. Stuart Basefsky is responsible for the selection of the contents which is intended to keep researchers, companies, workers, and governments aware of the latest information related to ILR disciplines as it becomes available for the purposes of research, understanding and debate. The content does not reflect the opinions or positions of Cornell University, the School of Industrial & Labor Relations, or that of Mr. Basefsky and should not be construed as such. The service is unique in that it provides the original source documentation, via links, behind the news and research of the day. Use of the information provided is unrestricted. However, it is requested that users acknowledge that the information was found via the IWS Documented News Service.
Stuart Basefsky
Director, IWS News Bureau
Institute for Workplace Studies
Cornell/ILR School
16 E. 34th Street, 4th Floor
New York, NY 10016
Telephone: (607) 255-2703
Fax: (607) 255-9641
E-mail: smb6@cornell.edu
****************************************
_______________________________
Institute for Workplace Studies----------------- Professor Samuel B. Bacharach
School of Industrial & Labor Relations-------- Director, Institute for Workplace Studies
Cornell University
16 East 34th Street, 4th floor---------------------- Stuart Basefsky
New York, NY 10016 -------------------------------Director, IWS News Bureau
________________________________________________________________________
European Trade Union Institute
ETUI-REHS
European Economic and Employment Policy Brief
Andrew Watt
No. 3 2008
The economic and financial crisis in Europe: addressing the causes and the repercussions [18 December 2008]
http://www.etui.org/research/Media/Files/EEEPB/2008/3-2008
[excerpt]
This article looks at the extent of the challenge facing European policymakers as a result of the crisis. It provides an analysis of the current economic situation, looks at the forces that have driven the European economy off what had until recently been a quite decent and seemingly sustainable growth trajectory, and considers how deep and protracted the downturn is likely to be. From this it concludes that, unlike the United States, where a prolonged and serious downturn is inevitable, the European economy could be steered relatively swiftly out of the mess, provided decisive policy action is taken. The article then proposes a set of five essential steps that need to be taken in the short term at European and national level to arrest the downturn, and points out areas requiring substantial 'structural reforms' in the medium term. Given the serious questionmarks as to whether European policymakers will do the right thing, one can be no more than conditionally optimistic about the medium-term prospects. A 1929-scenario is far from inevitable, but it remains a possibility.
______________________________
This information is provided to subscribers, friends, faculty, students and alumni of the School of Industrial & Labor Relations (ILR). It is a service of the Institute for Workplace Studies (IWS) in New York City. Stuart Basefsky is responsible for the selection of the contents which is intended to keep researchers, companies, workers, and governments aware of the latest information related to ILR disciplines as it becomes available for the purposes of research, understanding and debate. The content does not reflect the opinions or positions of Cornell University, the School of Industrial & Labor Relations, or that of Mr. Basefsky and should not be construed as such. The service is unique in that it provides the original source documentation, via links, behind the news and research of the day. Use of the information provided is unrestricted. However, it is requested that users acknowledge that the information was found via the IWS Documented News Service.
Stuart Basefsky
Director, IWS News Bureau
Institute for Workplace Studies
Cornell/ILR School
16 E. 34th Street, 4th Floor
New York, NY 10016
Telephone: (607) 255-2703
Fax: (607) 255-9641
E-mail: smb6@cornell.edu
****************************************
# posted by SBasefsky : 7:46 AM
