euroIs Europe about to be “Trumped”? That’s the question EU leaders are asking as they cast nervous eyes at next year’s French presidential elections, where the populist, anti-immigration, anti-EU National Front candidate, Marine Le Pen, is positioning herself to deliver a historic upset. Her chances are still slim (particularly if the centre-left and centre-right decide to join forces to block her coronation), but it wouldn’t be the first time the polls have called it wrong.

Frankly put, Europe needs to deliver jobs. Whether it’s by getting out of the way, promoting structural reforms, cutting red tape, and letting the private sector do its thing; or through massive public investment and debt write-downs to kick-start the economy; or via some combination of the two, the EU needs to drive economic growth across the continent if it wants to survive. But, politically, how can a program for growth be achieved in practice? Crudely speaking, Southern voters don’t want painful structural reforms and Northerners don’t want to pay for investment and debt forgiveness.

The McKinsey Global Institute recently a held global essay contest aimed at crowd-sourcing solutions to this conundrum: How could a pro-growth reform programme be made deliverable by 2020, and appeal to electorates and decision makers alike at the national and European level? You can find the winning entries online here (pdf).

Idea 1: Compensate globalisation’s losers

The award for the best essay by an author under the age of 30 went to 23-year-old Antoine Levy from France, currently a PhD candidate in economics at the Massachusetts Institute of Technology (MIT). He proposed compensating losers of structural reform programs, including offering workers in industries affected by foreign competition shares indexed to GDP growth, as a way to make them more politically palatable. Levy argues that, even though the economy in general may benefit from greater liberalisation, there are bound to be individual losers. So, by compensating them up front, he hopes they can be encouraged to drop their opposition to reform.

Idea 2: A ‘new deal’ for Europe

First prize was won by Professor Volker Brühl, managing director of the Center for Financial Studies at Goethe University (in Frankfurt, Germany) Professor Brühl proposed national growth and investment initiatives, along with European efforts to support ‘clusters’ in certain industries so they can benefit from economies of scale, and a ‘new fiscal deal’ (i.e. modified EU rules around national debt that allow for more flexibility and greater scope for investment).

Idea 3: Cut debt, stop quantitative easing, and start investing

The joint-winner of the first prize was Dan Ciuriak, director and principal of Ciuriak Consulting (in Ottawa, Canada). Mr. Ciuriak’s essay proposed an end to the European Central Bank’s quantitative easing program, and a raising of interest rates. He argues this will make labour in Europe more affordable relative to the cost of capital, and will end the “jobless recovery” that Europe is currently mired in. He would also like to see the cancellation of excess public-sector debt (he argues that moral hazards do not apply in a crisis); and a reorientation of industrial policy to stimulate public investments.

Could these ideas help boost Europe’s economy? What measures does Europe need to undertake to encourage economic dynamism? How could governments implement reforms in a way that would be palatable to the public and politicians alike? Let us know your thoughts and comments in the form below, and we’ll take them to policymakers and experts for their reactions!

IMAGE CREDITS: CC / Flickr – metropolico.org


120 comments Post a commentcomment

What do YOU think?

  1. Bobi Dochev

    No they can’t. Especially idea 1 is completely stupid, but I’m sure it is very attractive for many of the politicians and globalists. The second one could help partially.

    But am “surprised” by something else – isn’t it funny how left and right parties combine efforts against nationalist? That means only one thing – there is no differences and they are 2 parts of one whole – which makes me vote against it although the alternative isn’t the best, at lest appear as fairer.

    • Patrik Klingborg

      How can you vote in protest for a nationalist party? You know what nationalism did to Europe, right? It’s not a better alternative.

    • Bobi Dochev

      The combining of left and right seems also very filthy.
      I didn’t say it is better alternative – they are equally worst, but it is more then obvious that tradition parties cant handle the problems so it will be stupid to continue give them a chance and spent years in waiting something to happen. If there is no other alternatives (and I can’t see such) I’m ready to take the risk. And lets not think that today’s nationalism is the same and would lead to the same things.

    • Patrik Klingborg

      How can you be ready to take that risk? Is your life really so bad that it is worth risking a war within the next 10-20 years? And yes, today’s nationalism can lead to exactly the same place, just as communism always ends up totalitarian.

    • Ironic Man 3

      Patrik I don’t think you’re getting the picture here, the EU is slowly turning into the US of EU or worse the EUSSR, depending on how undisturbed the left remains.
      It’s much more than “omg nationalism will lead to le warr ;(((“, which is a bullshit shallow statement, war with who exactly, because I don’t see nationalists wanting more than to have more care about the lower middle class or poorer and not on more social benefits.
      Enough of this media induced craziness.

    • Bobi Dochev

      Sorry but that’s a bullshit! Who going to make this war – Le Pen? Against who?
      The liberalism and globalism on the other hand can live to flooding EU with Muslims and with their high birth rate in 10-20 years to end up with Muslim Union?! And this one is absolutely guaranteed and there are many researches that it could happen in 2030.
      Its better to protect from real threat instead of some highly uncertain possibilities without any based on past events without any visible signs.
      And yes for about 120 million European citizens the life in EU suck quite a lot. Because EU isn’t only Brussels and glamour.

    • Walter Wenck

      what nationalism did? im preety sure its the democracy that bombed europe…

    • Bobi Dochev

      Walter Wenck He obviously mean the WWII and the German nationalism which lead to fascism. I think we learned at least this lesson and that wont happen again.

    • Bobi Dochev

      Michael Šimková Didn’t mean to be, but looking in Europe today might say “It was great, but died preposterous”!

    • Ivan Burrows

      Bobi Dochev

      WW2 caused by a group of ‘Europeans’ with a flag & a plan to unite Europe that was defeated by Nationalists & the love of their Nation and their right to self determination.

      Sound familiar ?

    • Bobi Dochev

      Ivan Burrows Yes it sound exactly like the European Commission :)

    • Patrik Klingborg

      Bobi Dochev the only thing you really learn from history is that humans will repeat the same mistakes over and over again.

      And it’s good to see that Ivan is out in force today too, nothing like his deluded views to ensure that people don’t vote nationalist. Nationalist saved Europe, Jesus Christ…

    • Bobi Dochev

      Patrik Klingborg I don’t like any form of extremism, far right, far left, far nationalist – it is all recipe for disaster. In the other hand I don’t see anything wrong with some reasonable level of nationalism.
      In my eyes the globalism is dead. I don’t see any changes in the tradition left and right parties so it is their fault to see the nationalist as alternative. I would say it again – it might not be the best alternative, but it is the only.
      We need changes – the current situation need new polices and I’m ready to rock the system a bit.
      And I would say again that at leas the nationalist have fair position – for me collaboration between left and right parties against third party which is threat for their leadership is much dirtier.

    • Mario Kamenjak

      You mean center leftand center right parties have united against Nationalism? Yes that is true. Because they are more center than right or left. Nationalism is right, not center right, but right wing.

      It’s funny however how strong the right wing has grown recently, yet the center parties attack the right wing by calling it populism and with that also indirectly attacking the left wing who is currently quite weak. Instead of trying to get some good ideas from the left that would definitely help them fight the growth of nationalism.

    • José Ramos Machado

      Bobi Dochev You are right. Today’s nationalism is not the same as before.

    • Tarquin Farquhar

      @Patrik Klingborg
      Please kindly remember, it was ‘nationalism’ that won WW2 – BRITISH ‘nationalism’ amongst others.

      Not all ‘nationalism’ is the same!

  2. Bódis Kata

    Funny.. it takes an American Trump for the EU leadership to start seeing reason. I guess the are scared to lose their cushy seats.

  3. Bruno Nunes

    Amazing. So many people in europe and the 3 options don’t tackle the true cause of the rise of populism: people standard of living is decreasing, even to those who work. And why? Because trickle down economics don’t work in a egocentric world. 100 persons with 1 million euros each won’t move has much money has one million persons with 100 euros. And if the money doesn’t move there ain’t no economic growth. So, the biggest problem is the raising inequality.

    Probably the best solution is to end the use of fiat currency and to change to a resource base economy, but that would end the shitty status quo that money provides

    • Patrik Klingborg

      Actually that is not true. Yes, the rich has gotten richer faster, but almost everyone is better of in terms of material standard today than 20 years ago.

    • Bruno Nunes

      I’m not talking 20 or 30 years ago. I’m talking in the last 10 years. Since the damn Lehman Brothers went broke. Look around you. If you just open your eyes you will see families strugglin to pay the bills. If something goes a little of the budget (a sick leave, cancer, or an accident) most people don’t have the means to face it without getting in debt (and coming out of it is getting harder and harder)

    • Bruno Nunes

      And there is also the little detail of corruption in the halls of power. That erodes the public trust in goverments all around the world, making it easier for some Trump or LePen to raise to power

    • Stefania Portici

      si , ma la colpa non è della moneta FIAT . Anche prima di entrare nella UE , le monete nazionali europee e di tutto il mondo erano e sono ancora fiat . Il problema di fondo nella UE è moneta euro ESTERA e i suoi Trattati che mirano al capitalismo finanziario e poco al sociale , per questo fu bocciata la Costituzione Europea e i tecnocrati hanno reintrodotto facendola passare per altre vie dove non era necessario il consenso dei cittadini.

    • Bruno Nunes

      Any kind of currency will eventualy lead to the accumulation of it by those who have the most. “Money makes money”. This type of thinking is what lead us to this point. Work should make money. Not money for the sake of money.

    • Bruno Nunes

      Work, even from automation. But in that case, there is the problem of distribution of wealth

    • Stefania Portici

      il tasso di disoccupazione indica che ci sta un problema in una certa zona. Ad esempio se in Sicilia ci sta un tasso alto di disoccupati , partono investimenti dallo Stato per creare occupazione e favorire l’economia reale . Nella UE il lavoro è concentrato sopratutto in Germania ma non partono investimenti verso gli altri Paesi perchè la UE non è uno Stato , la Germania stessa dice che la UE sono accordi tra Stati e mai sfocierà in una unione di bilancio o federale o altro perchè è vietato dalla sua costituzione e lo ha voluto per iscritto per proteggersi

    • Bruno Nunes

      Different rulles, acording with the “power” of each country. The same is happening with the justice system in Portugal and, I believe, a little bit all around the world. And power is often paired with money. When one increases the other increases also…

    • Stefania Portici

      posso fare un ragionamento personale? Senza la UE e l’euro come avrebbero potuto i “veri poteri” portare il neoliberismo e la globalizzazione nei Paesi europei che erano protetti dalle loro Costituzioni? Molti dicono che la UE e l’euro sono stati un fallimento ma in realtà lo scòpo del “vero potere” se ci pensiamo bene è stato raggiunto . A noi ci è stato venduto come il sogno degli Stati Uniti D’Europa ma è ben altro. Due guerre mondiali di conquiste dei diritti dei cittadini spazzati via cosi . Il gioco è stato inventato bene ma non è finito

    • Slavi Sha

      Be careful with the “resource based economy”. If not well-thought, it can lead to wars for resources, when resources in one country become scarce.

    • Bruno Nunes

      We need a planetary treath to unite people in the common good. This is the proof that several educational programs all around the world have ultimatly failed in uniting us has species. There are plenty of dividing issues, that stop us from getting to the next step in evolution as a specie

    • Bruno Nunes

      Putting it simplier, we could go Star Trek, but we’re going StarWars

    • Slavi Sha

      Well, now that you made me think of it, sadly the latest Star Trek has gone Star Wars too…

  4. Michael Šimková

    These are good ideas. I don’t think public infrastructure spending and reducing bureaucracy impeding private investment are at all at odds with each other. That is old thinking.

    It doesn’t matter if a cat is black or white, so long as it catches mice. Do both. There is a place for infrastructure. Indeed, I believe the best way to ensure strong market competion for industries such as rail transport, telephony and energy is to make the infrastructure a public concern. Look at the objections to household solar panels, all infrastructure-related.

    Energy companies do not want to maintain the grid with the same energy throughout and less customers. So take the grid away from them, and make them service providers. If grid maintenance were a public concern paid for by taxes it wouldn’t be an issue, and there would be healthier market competion for energy providers using the grid in novel ways, including solar panel manufacturers.

    Capitalism versus communism is last century’s argument. Think out of the box. Don’t turn economic policy into a religion. Do what works.

  5. Yordan Vasilev

    I think, that the key is more economic freedom and more private initiative. The capitalism is democracy and free market and it is some by down, by the citizens.

  6. Tarquin Farquhar

    @DEBATINGEUROPE
    NO!
    1 ===> Some countries will moan in any event (like, erm, the Club Med ones) just to get their hands on ‘free’ EU money.

    2 ===> Who decides on specificity and locality? Similar practices are already ‘abused’ in the EU.

    3 ===> Who pays for ‘debt cutting’? The Northern EU nations as usual!

  7. Cheryl Parker

    I’m more disturbed that you only have 14 comments on your ideas, how far reaching is your consultative process. My thoughts are that the trickle down economy doesn’t work, the gulf between rich and poor is widening , Britains’ austerity programme is disgraceful and is largely the reason behind Brexit, rich getting richer, poor getting so poor they are homeless and relying on food banks. Stagnation has taken a grip. Democratic election of the President would be helpful too, Juncker has bad name

  8. Eleonora Ilieva

    Merkel must go . The all proatlantic must go in hell . Then we can start live in peace and trade .

  9. Bobi

    That’s the answer – “letting the private sector do its thing”.
    To many regulation, bureaucracy and taxations. Especialy in front of starting companies. Just… let the ppl work, do not chase active ones for stupid things like they are criminals! Make the system more simple and thats all!

  10. Vlasta Peric

    NO.OUTSOURCINIG HAS DONE SO MUCH DAMAGE THAT LOCAL BUSINESSES CANNOT RECOVER.COST PRODUCTION MUST BE LOWERED.WHAT TO DO ABOUT JOB LOSS?

  11. Paul X

    No1 is a joke

    EU over regulation means many companies are not competitive on the global market, so workers in these (failing) companies are going to be given shares which will be held at an artificially high value with taxpayers money?

    You don’t need a PhD in economics to work out this is just a way of bribing workers to keep quiet because EU policy is putting their job at risk

  12. Duncan

    If these are the best and brightest ideas the financial leaders of the EU can come up with I’ve never been gladder that my country has decided to leave it. The problem you have is you’re trying to please everyone all at the same time. Simple fact is you can’t. But, in order to cut the rise of populist politics (for want of a better term) you need to make the following people happy, the working class, the lower middle class. That’s it. One big way to achieve that is to regulate banking more. It isn’t all the problem fixed in one go, but when interest is 1% yet people who need to cover an emergency they can’t afford are charged at 30-50% interest their spare capital lowers further, they can’t spend on none essentials and retailers and then eventually manufacturers feel the effect, and where did that money go to? The banks of course! Some goes to their ridiculous and undeserved bonuses, some they lend out again to obtain even more wealth. If this goes unchecked, we will all be born into dept and have to work our whole life to make the banks money and when we die our children will inherit our leftover dept. This system needs stopping for anyone who is not a banker to prosper.

  13. Jokera Jokerov

    EU will be devastated by President Trump with the help of Russia`s Putin and UK`s Theresa May. France`s Marine le Pen will follow shortly at the end of the year.

    • Ion Marian

      EU is a big joke. Eu leaders dumber than puppets.

    • Jokera Jokerov

      I would rather compare them to muppets. :D

  14. Jan Nieuwland

    3 – invest if there is a return on that investment that is bigger then its cost… it is easy to borrow and increase debt and forget that at a time it will be payback time…..

    But … be creative. Why not consider a basic income for everyone ? And then skip all social security payments etc. Who works will earn more money.

  15. Egil Johanzen

    Two major problems to tackle:
    1) increasing inequality that reduces economic growth and creates conditions for racism and fascism
    2) reduced growth in productivity which basically sets the ceiling for economic growth

    Short term fix:
    Tax the proceeds that the rich has gained the last 30 years (their share of the pie has increased and they pay less taxes) and use the money to invest heavily in green technology, infrastructure and education
    2) long term fix:
    Strengthen the negotiating power of workers to counteract the downward pressure on salaries from technology and globalisation. Make the salaries at least follow productivity gains and since consumption then will increase, the economy will grow. When salaries increases it will also give investors more incentives to automate and increase productivity. The latter point in conjunction with economic growth will make real investments in machinery etc more profitable compared to savings and speculation objects such as real estate, shares etc which alleviates the bubble economy.
    3) finally, kind of citizens wage for students. In stead of just giving people basic income to all, give it people on the condition they upgrade their skills or participate in some community action. This will alleviate both the problem that there is not enough jobs to go around in the new economy and it will improve productivity

  16. Maria Rodrigues

    Idea 3. Many countries are with problems, because they are trying to save their banks. Debts grow when they save them.

  17. Brian Rooney

    EU has been Trumped a few months before Trump lol..and much more to come over next few months

  18. catherine benning

    What you need to question here, is why your open prejudice against Marine Le Pen?

    What is it in her policies you refuse to accept? Why do you constantly call her racist and xenophobic?

    She offers to give the French people what they are calling for. She also offers them the left wing social policies they want. And not endless austerity. These are all of the political moves her country seeks, yet, you call her names and threaten reprisal. Now why is that? Could it be she is not in your pocket, just as Trump appears not to be in the US establishment pocket, as was the crooked Hilary?

    However, from past experience the other up for election in France are those who will revert back to the same old crap as they currently have. And then there was the saviour Tsipras. We all saw how he was simply a sheep in wolfs clothing. Ready to sell the Greek people out overnight.

    Le Pen is appearing to be constant in her promises. More than the others are likely to be.

  19. Belamie Versco

    shares? debt? competition? oh yeah the sun is competing to shine with the moon, rain is a debt to the oceans and economy is for people who need to count what they share, because their sense of charity is deprived. money makes the world go round…. or actually gravity and humanity?!

  20. Ali Owais

    Eu is strong but if they do like uk it will break eu and it’s going down not up always 2 are strong than 1

  21. Nelson Vaz

    Lower sales tax…lower the outrageous tax on electricity…. The more money people have the more the will consume and invest.

  22. Mark Pender

    Here is an idea ! Start to realise it’s over the one currency is standing on thin ice .

  23. Georgi Spasov

    Until we have the corrupted and rotten EC there can’t be any adequate economy boost.

  24. Barbara Szela Lesniak

    It would never have a chance to be ‘Trumped’ if it weren’t ‘Merkelled’, ‘Junckered’ and ‘Schultzed’. People must be really pissed off at the elite if they decide to get ‘Trumped’ rather then continue being reamed.

  25. Giannis Dimitrakis

    Why not wonder for what would boost US economy in the same manner you did with your post about Trump and America? :P

  26. Caius ADAM

    First step : STOP NOW THE IMMIGRATION INTO EUROPE
    Second step : STOP THE SOCIAL WELFARE OFFERED TO THOSE WHO CAME IN EUROPE NOT TO WORK BUT ONLY TO TAKE BENEFIT OF THE WELFARE MONEY
    Third step : STOP PAYING MONEY TO THOSE WHO HAVE NEVER WORKED ( or worked only short periods ) AND THEY HAVE MANY WIVES , MANY CHILDREN , A LARGE FAMILY LIVING FROM SOCIAL AID, PAYED BY THE TAX PAYERS
    Fourth step : SEND BACK ALL THE PEOPLE WHICH CAME INTO EUROPE TO WORK AND THEY DID NOT SUCCEED TO FIND A JOB WITHIN 6 MONTHS
    Fifth step : ASK MONEY FROM THE WEALTHY STATES WHICH ARE THE OIL EXPORTING STATES TO SUPPORT THE EXPENSES OF SENDING BACK THE IMMIGRANTS , AND ASK THOSE COUNTRIES TO OFFER THEM A DECENT LIFE AND THE POSSIBILITY TO INTEGRATE INTO THEIR SOCIETY
    Sixth step : ALL THE PEOPLE WHICH CANNOT BE INTEGRATED INTO THE EUROPEAN CIVILIZATION AND THOSE WHO DO NOT RESPECT THE EUROPEAN CULTURE AND THE EUROPEAN CIVILIZATION , RELIGION AND TRADITIONS MUST BE SENT BACK INTO THE COUNTRIES THEY HAVE COME FROM . THE EUROPEAN TAX PAYER MUST TAKE AWAY THE BURDEN OF SUPPORTING OTHER PEOPLE WHO DO NOT WANT TO INTEGRATE OR THOSE WHO CANNOT INTEGRATE INTO THE EUROPEAN CIVILIZATION

    • Paul x

      Seventh Step: Turn off Caps Lock

  27. António Santos

    Comentário.
    Quando Á Um Verdadeiro Governo. Como Um Bom Pai; Não Á Crise No País Que Governa; Nem Banca Rota.
    1º Ser Português; É Querer Para O Próximo O Que Queremos Para Nos Próprios; Ser Português; É Nunca Violar A Democracia Nem A Cidadania; Nem Os Direitos de Crianças; Formação Cem Educação; Sem Palavra; Sem Sentido de Responsabilidade Global; Não Presta; Numa Democracia Directa, Livre Todos Os Cidadãos Podem Participar Directamente no Processo de Tomada de Decisões.
    2º O Ouro Mais Valioso Do Mundo; É Respeitar O Próximo; Um Homem Com H Grande Move Montanhas; Quando Á Amizade; Boa Vontade Chega Tudo; Nunca À Crise Para Ninguém.
    3º Ser Português é Nunca Violar os Direitos de Igualdade; Mesmo os Que Não Fazem Parte das Redes Partidárias Enganadoras; politicas É Respeitar Para ser Respeitado; É Defender Todo, e Todos e Toda a Produtividade. Ser Português; É Não Enganar os Portugueses; Como o Governo Está a Fazer Com as Reformas Milionárias Que Recebe Quem Matou Toda a Produtividade de Portugal; Aumentar Impostos Com a Carga Brutal. Mesmo Assim só Está Aumentar a Divida Publica; Pagando Reformas Milionárias a Quem Pouco/ou Nada Produz. Ser Português é Ter Um Salario Mínimo de 750€; Reforma Mínima de 500€ Portugal; Como a Nossa Vizinha Espanha. Cortando Nas Reformas Milionárias.
    4º Deve é Criar Tetos Máximos de 1.700€ nas Reformas Publicas; e Privadas; Como Tem a Suíça Para o Dinheiro Chegar Para Todos; E a Segurança Social Ser Sustentável. Porque Todos Somos Doutores, e Gestores da Nossa Profissão.
    5º A Folga Orçamentar; E a Sustentabilidade da Segurança Social; Aparece Com Tetos Máximos Nas Reformas Publicas, E Privadas de 1700€ Como Na Suíça. Dividindo em Três; Uma de 700€ Outra de 1.000€ E a Máxima 1.700€. Ser Português; É Tudo Ter Regras Peso, Medida, e Limites, e Responsáveis. É Recebermos o que Produzimos; Excepto Deficientes, Pobres, Crianças.
    6º Saída Limpa Da Tróica É Com Uma Tabela Salarial, Com Um Teto Máximo de 1.700€ Nas Reformas, Públicas, e Salário Mínimo de 748€ Mês; Pois Todos Somos Doutores, Gestores de Nossa Profissão. Ser Português; É Termos Reforma Máximas No Público, de 1.700€;Como Têm a Suíça; Para Não Estarmos a Endividar Portugal, Pessoas, e Crianças.
    7º Reestruturar a Divida Pública só em Nome de Quem Recebe Mais de 1.700€ De Reforma. Cultivar o Futuro. É Acabar Com As Desigualdades Escandalosas, Desumanas; Ser Português; É Quem Tem Reforma Acima de 1.700€ ir Logo Para Casa. Dando o Emprego a Quem o Precisa; E Não Continuar Empregado, e Reformado Como Agora Acontece; Isto é Desumano. Pois Todos Precisamos de Trabalhar, e de Receber Para Sustento Das Suas Vidas.

  28. György

    Mandatory re-training for free but state benefits depending upon taking the retraining course, overarching laws to regulate small entreprises throughout Europe (minimal capital requirement in Hungary is 9000 euros, while in France and UK it is only 1 euro/pound. ) Overarching laws throughout Europe of social security payments by companies, at least the allowable interwalls should be regulated. Intensive teaching of one European language from day one in school, to increase mobility of europeans.

    • Duncan

      You know, not everyone is as capable of skill adaptation as everyone else. In a natural system, these people who cannot adapt would die off. But this is a civilisation, so it’s not ethical to allow that to happen. What you are suggesting would result in a large number of failed retraining initiatives.

    • György

      Everybody is capable to learn a new profession. They just have to try.

    • Paul X

      Everyone can learn new skills (profession implies being a qualified professional which not everyone is capable of)

      But unless those skills meet the requirements of the labour market it is just training for the sake of it

  29. Chris

    Option 1 is just marxism.
    Option 2 is expansion of the dictatorial superstate
    Option 3 is contrary to every economic theory known to man.

    How about they adopt economics: deregulate, remove the tariff walls and dissolve the disaster of a single currency.

    • György

      “Deregulate” but bring back the mayhem of 28 currencies. You could have just said you are English we would have known straight away what your ideas are.

    • Paul X

      ..and what “mayhem” was that, a countries ability to adjust it’s currency to address it’s own financial situation?

      Clearly you are not Greek if you think the Euro is a success

  30. Mario Ghezzi

    Una idea per Renzi:

    Chiudere questo baraccone e risparmiare 8 miliardi all’anno …….

  31. EU reform- proactive

    I doubt it!

    How to achieve economic growth in fully fledged & developed economies & countries like the EU- in comparison to “developing” countries? What are the views? Many theories! How many Europeans today are risk takers, innovators & pioneers? The majority rather plays safe & get a job within a big (unproductive) government like an EU or a similar institution.

    The EU champions a “circular economy”: http://ec.europa.eu/environment/circular-economy/index_en.htm

    The World Bank suggests even “deeper” EU integration- & “more banks”:
    http://www.worldbank.org/en/region/eca/publication/eurer

    Merkel & Co seem to believe in the 19th century miracle that present “refugee workers” will stimulate the (German) economy- at least until the day most gone back home to rebuild their own countries- an than? Such “cheap extra workforce” might have helped in the 19th century- but today?

    It appears nobody really knows- it’s priceless & politicians remain clueless!

    • György

      Leave whenever you want.

  32. klassen

    Nothing is going to help !!
    Its time to drain the swamp!!
    What all of europe needs is change , a breath of fresh air. We are all tired of the backroom deals , the watering down of our freedoms and democracy, robbing of our pensions, elite doing whatever the hell they want and we the people paying the price.
    We want our pensions our borders our rights our democracy ,and most of all our countries back.
    Bailing out banks with pension funds, its just so wrong.
    Europhiles like Verhofstad calling trump a clown need to look in the mirror, some serious soul searching needed there!
    We need transparency and most of all accountable govt, not these europhile obsessed idiots who put us all on a runnaway train.
    Lets all hope that upcoming eu elections will bring positive change. Its time to take our countries back.
    Time to give the europhiles/corporates the boot.
    So no nothing is going to save or boost the eu titanic, theres just no support for the project.

  33. catherine benning

    Our parliament is complaining they can’t go forward with Brexit as Article 50 must not be invoked without Supreme Court Judicial Review. Yet, we read in our papers yesterday, this is simply another stall, so that Blair and his chums can get back into the fray. The brass neck of these ‘freedom Fighters’ takes the breath away.

    Our top mass murderer, who has brought hell to our planet, rather than being in the Hague for overt war crimes, wants to tell us we must, once again, follow his killer lead and stay glued to an undemocratic club of thieves. Together with another ‘no use’ PM who clearly has no care in the world about the slender reputation he keeps, from being damaged with the money makers blooded hands, as they both sacrifice for the nation.

    The gall of these two just takes the breath away.

    http://www.theway.co.uk/news-10386-we-dont-need-to-trigger-article-50—we-can-just-leave-the-eu

    I wonder if they joined forces in a gang bang on that Downing Street desk? As residual money from European coffers can’t be the only perk they collude in. As Judge Judy says, it can’t be the truth if it doesn’t make sense. Global finance is the real master behind this joint effort. The two of them are financially cleaning up and fear that club loss greatly. It could expose their entire war charade completely and find them both facing a hangman. Arms dealing is a dirty business, is it not?

    http://metro.co.uk/2016/06/09/eu-referendum-tony-blair-and-john-major-join-forces-to-support-of-remain-5933652/

  34. eusebio manuel vestias pecurto vestias

    Free trade is no problem how much better for all Europeans Trade agreements are not necessarity the problem trade Europe needs watering and regulations this is absolutely true for a large Europe

  35. Nando Aidos

    The operative word is “could”. Just make sure they are implemented without loopholes that the corrupt will exploit.

  36. Bódis Kata

    Especially #3.

    Plus the eurozone’s common monetary policy is not really suitable for Southern-Europe.

  37. Ntinos Gotzis

    Europe success? How many EU bankers are in jail for 2008 crisis? How much money from the QE are going to real economy?
    How many referendums are opposed to “EU” ?

  38. Domenico Cavallaro

    Populist.??….remember that the American Democrats said to have lost the elections for not having understood the needs of the people.
    Its VERY STUPID to use the word populist againts anything that is contrary to the irresponsible choices of the LEFT.
    People in Europe are tired of filling their cities of mostly young Africans.
    These people can be helped in their own countries. Mass migration towards Europe must be stopped
    I am tired of seeing my city full of African beggers that have no possibility of a decent future.
    The left parties in Europe are responsible for this crime towards the European citizens.

  39. Bobi Dochev

    How many times you going to ask the same? No it will not! What we need is economical development not social payments for ruined industries!
    And while US worm up its connections with Russia you still play games with stupid sanctions which at the end are on our expenses! And then the drunk idiot explain how after years Europe will become a third world power – Yes it will! While you act like politicians and look for an enemies to justify your own stupidity the rest of the world move on, solve problems and develop!!!
    Bloody damn idiots!

  40. Paul Sharpling

    No initiative will ever succeed if it has to rely either on the agreement of 27+ governments all with different economies and different agendas or be subject to the otiose welter of bureaucratic requirement continuallt engendered by the current hierarchy in Brussels.

  41. Filippo Bonanno

    I think it could be also very useful also stopping downward wage competition for external competitiveness within a Monetary Union that creates deflationary and unemployment bias especially in peripheral countries

  42. Julia Hadjikyriacou

    We are in the fourth industrial revolution. What is now urgently required is a financial and economical revolution. Solutions within the current financial and economical state will just help some small effects of a system that just doesn’t work anymore. A reset is required. A debt jubilee, a more social money system that abolishes poverty and debt slavery i.e. a guaranteed minimum income, no tax and no interest rates for the working class and SME’s. Tax the mega-corporations and mega-rich. Wealth cap the mega-rich and direct that wealth to the rest of humanity. And direct 50% of mega-corporations shares and dividends to public funding. Banks, defence and resources should not have private owners but should belong to collective humanity and be run by the those voted to serve society.

    • István Simon

      the communism (never was, novhere)
      socialism fallen, because the capitalist states did not want to see it works.

      massive propaganda against it made to fallen.
      I remember the last decades of socialism. belive me: peoples there and then didn’t wanted to fallen. ohh, there was some I remember them: they was criminals. no, not political ones. they just was thiefs or notorius liars, or other sociopaths.

      well the most tragic moment was the system changing, when we had to realize: the pschichopats were get right.

  43. nando

    These look like good measures.
    I would add that compensating globalization losers is actually paying for externalities caused by globalization. These are the causes of a lot of suffering.

  44. Nando Aidos

    These look like good measures.
    I would add that compensating globalization losers is actually paying for externalities caused by globalization. These are the causes of a lot of suffering.

  45. Michelle Maria

    1. bribe/payout to not oppose reform which you know will f. you upfront 😂
    2. ok dont have a greater understanding.
    3. high interest rates holding a false economic bubble communist eu has been doing for years. compensating for the communist mentality members that offer no growth value and hides that imbalance between western.. and south & east eu countries.

  46. Michelle Maria

    1. bribe/payout to not oppose reform which you know will f. you upfront
    2. ok dont have a greater understanding.
    3. high interest rates holding a false economic bubble communist eu has been doing for years. compensating for the communist mentality members that offer no growth value and hides that imbalance between western.. and south & east eu countries.

  47. Michael Šimková

    Trump seems to want to chase away all the Asian researchers they brought over. If Europe wasn’t asleep at the wheel we’d be courting those researchers like crazy. Of course we’d need to be funding actual research for them to perform.

  48. Faddi Zsolt

    The Worlds economy can be boosted by investing in education, science and technology. Eradicate banks and stock markets, along with managers and bankers!

  49. Alex Tselentis

    Lets get real, Europe needs to stop being a slave puppet to the US and maybe then, only then can it discover growth, Europe is drowing in financial crisis bankruptcy yet it still enacts sanctions on Russia that have cost BILLIONS in lost revenues and thousands of lost jobs, thats enough to see who runs Europe, the EU clowns are all Wall Street puppets thus the EU is falling apart, Brexit, France next, then Holland.

  50. István Simon

    all 3 plan is just a wasted effort.
    to refining the existing structure can not change the system.
    however the system needed to change.
    I mean the system become a power game, played by few. meanwhile the masses just used by these gamers.

  51. Alex

    Shove some more European debt onto Greece…..That might help. Well Europe that is….

  52. Stefania Portici

    il problema economico della UE dipende dai Trattati e dalla moneta unica. Vanno disintegrati i Trattati e con essi l’euro e l’Unione europea . l’EUROPA senza la UE tornerebbe a respirare e a crescere , ognuno riapplica la sua Costituzione che li protegge dagli squali internazionali

    the EU economic problem depends on the Treaties and the single currency. Go disintegrated the Treaties and with them the euro and the European Union. EUROPE without the EU would return to breathe and grow, each reapplies its Constitution that protects them from the international shark

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