As you know, today I attended the conference featuring Don Joaquín Almunia, under "Factors success in a global economy. European strategy. "At the conference, European Commissioner for Economic and Monetary Affairs, said his impression that Europe is lagging behind, that there are other countries that are doing much better than us, yet differentiating those We already had the advantage in the years ahead of those with rapid growth and have reduced the gap significantly.
commented Basically the main risks to Europe, which would be: first, the evolution of oil prices (and gas and other natural energy resources on reasonable or not, following in his footsteps). Although Spain has reduced its energy dependence, the outside still buy 50% of the energy we consume. In early 2004, the price per barrel was $ 30, we are now talking about a price around $ 70 per barrel. Fortunately, due to exchange rates, increases in oil prices come somewhat undermined the euro, second, that countries like the U.S. or China pay the consequences of internal imbalances that count. While Europe offset the trade deficits of some countries with surpluses in others, the aforementioned countries have very unbalanced scales: USA (both its citizens and their public sector) es un país muy endeudado, de modo que dependen de importar ahorro desde otros países. China y otras economías asiáticas, envían su exceso de ahorro al país más poderoso del mundo. Almunia ha expresado la insostenibilidad de esta relación, añadiendo dos posibles resoluciones: que se incrementasen los tipos de interés (medida que se extendería a otros países aunque estos no tuviesen ese problema) o que se depreciase el dólar, convirtiéndose repentinamente en más competitivo, lo cual perjudicaría a los demás países que sufrirían una apreciación sin que existiesen razones objetivas en la economía real que lo justificaran; en último lugar, lo que ha denominado "turbulencias finance, with what has been referred to Europe's financial markets have agitations against the risks involved and give sharp movements of capital, leaving exposed areas normally have affordable financing available.
Finally, it outlined that although efforts have been made in recent years, it is still a long way to go. It emphasized the importance of research (especially in the fields of education and science) and lack of a common policy regarding satisfactory energy or immigration.
Related Topics: economy Europe still faces challenges despite the change process , oil, natural gas and environment.
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