I've just read an article inThe Economist (Borrowed Time ) that treat of the problem that European banks are facing. This prompted me to start this thread and ask my European fellows what they think should be done to revamp the economy as a whole.
I think most problems stem from a lack of internationalisation inside the EU. We are now one country (with a European nationality, parliament, gov., central bank, currency, common foreign policy, etc.), but remnants of nationalism seem to block the institution to turn really European.
Banks, for instance, are still mainly British, French, German, Italian, Dutch, but there aren't any true European bank so far. New holdings have joined banks from 2 or 3 countries (ex. French-Belgian Dexia Bank), or smaller banks have been eaten up by larger ones from other EU countries (ex. the Dutch Fortis Bank has absorbed 2 main Belgian banks and the Deutsche Bank has open new branches in several countries). I'd like to see European bank accounts, and a few big banks present everywhere inside the EU. It's ironical to see international banks such as HSBC having branches in the UK, China, Malaysia, Singapore, India and other Asian countries, but remain absent inside the rest of the EU.
The same Europeanisation must come for telecoms (comin slowly with Orange, Vodaphone...), railways and long-distance buses (there is already Eurolines, but can't move inside a same country because it harms local companies. That's unacceptable to protect non-competitive companies like this !), the postal services (why isn't there a European Post when all stamps are in euro ?), and other sectors.
What about creating European 24h/24, 7d/7 combini's ?
Then the market must absolutely be made more flexible. Unemployement is due to the rigidity of a market. People don't change job, so there is less recycling and opportunities in the employment market. What's more people doing the same job all their life get bored more easily and are less happy in life, thus less productive and professional (look at civil servants !). The time of life employment is over. The market must open and become more competitive. How do you know your vocation when you start working in your early twenties? People need change. Society change and make people evolved. I feel that some European refions haven't understood this yet and that's what is causing high unemployement (around 10% in France, Italy, Germany, Belgium, Spain, etc.).
Other ideas ?
I think most problems stem from a lack of internationalisation inside the EU. We are now one country (with a European nationality, parliament, gov., central bank, currency, common foreign policy, etc.), but remnants of nationalism seem to block the institution to turn really European.
Banks, for instance, are still mainly British, French, German, Italian, Dutch, but there aren't any true European bank so far. New holdings have joined banks from 2 or 3 countries (ex. French-Belgian Dexia Bank), or smaller banks have been eaten up by larger ones from other EU countries (ex. the Dutch Fortis Bank has absorbed 2 main Belgian banks and the Deutsche Bank has open new branches in several countries). I'd like to see European bank accounts, and a few big banks present everywhere inside the EU. It's ironical to see international banks such as HSBC having branches in the UK, China, Malaysia, Singapore, India and other Asian countries, but remain absent inside the rest of the EU.
The same Europeanisation must come for telecoms (comin slowly with Orange, Vodaphone...), railways and long-distance buses (there is already Eurolines, but can't move inside a same country because it harms local companies. That's unacceptable to protect non-competitive companies like this !), the postal services (why isn't there a European Post when all stamps are in euro ?), and other sectors.
What about creating European 24h/24, 7d/7 combini's ?
Then the market must absolutely be made more flexible. Unemployement is due to the rigidity of a market. People don't change job, so there is less recycling and opportunities in the employment market. What's more people doing the same job all their life get bored more easily and are less happy in life, thus less productive and professional (look at civil servants !). The time of life employment is over. The market must open and become more competitive. How do you know your vocation when you start working in your early twenties? People need change. Society change and make people evolved. I feel that some European refions haven't understood this yet and that's what is causing high unemployement (around 10% in France, Italy, Germany, Belgium, Spain, etc.).
Other ideas ?