Posted on 03/21/2005 8:18:41 PM PST by quidnunc
This month, Germany's largest industry association, the Association of German Chambers of Industry and Commerce (DIHK) published its latest survey of German industries. The results were remarkable, but should not have come as a shock to anybody who has been following Germany's economic development over the past decade.
While domestic investment by German companies continues its downward spiral, their foreign investment has reached an all-time high. At the same time, 27 percent of all companies surveyed plan on cutting their German workforce in 2005.The export of capital combined with negative growth rates of domestic investments over the last four years paints a bleak picture for the country's economic recovery. Germany is not only faced with profound investment imbalances affecting its economic competitiveness, but also with an under-utilized population. With unemployment (12.6 percent) at its highest level since the end of World War II and no improvement in sight, it is time for meaningful reforms in a country that was once Europe's economic powerhouse and role model.
A lot remains to be done in Germany, which in 2000 was at the forefront of pushing the so-called "Lisbon Agenda", Europe's ambitious economic makeover. Ultimately, the Lisbon Agenda seeks to turn the European Union into the world's most competitive and most dynamic economic region by 2010. To reach this goal, the agenda calls for an EU-wide overhauling of tax, social, education, research/technology and labor policy in order to achieve its objectives within the set time frame.
In at least at some, if not all, of these areas, European enthusiasm and ambition is likely to collapse in very short order. Take technology for example. While the EU is willing to invest $680 million in nanotechnology over the next four years, the United States alone has committed $3.7 billion over the same period. Combined with its dwindling pool of top-notch researchers, it is highly unlikely that the EU will be able to overcome this funding gap.
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They apparently need to increase wages,shorten the work week, raise taxes, offer better free health care and drug coverage, more paid holidays and vacations. Oh wait, that's what democrats want and their already doing it. How did this fail?
their=they're
The only cure for this is MORE socialism!
[/sarcasm off]
u cant fire anyone...ever. same in france. doesnt actually matter how crap someone is...yuo cannot fire them. Now sit down and think if you were an employer and wanted growth...the very last thing you will choose is people, because of the cost. can no one see this in germany. it is also Unionised up the fecking ying yang.....if you dont believe me check out the concept of 'workers councils'. Great idea on paper...but only on paper.
sweet jesus, i just hope Ireland does not follow this crap...and i know they are trying to introduce rules that will force us to fro the EU. i lived in ireland during 15% unemployment and i never want anyone to suffer that again.
It always makes me chuckle when i see on Fox News that the democrats in the US are moaning about 5% unemployment in the US as a disgrace! Pity they dont actually look into the model they are recommending to see the true effect of it..
"u cant fire anyone...ever."
I've heard that many times. I just can't imagine it. What if I just stop showing up to work? Or maybe come in every other day, can they still not fire me?
It is so different and crazy. As an employer in Germany, I would either never hire anyone unless I absolutely had to, or I would ship all my jobs to countries where I had a bit more control over my workforce.
"i just hope Ireland does not follow this crap"
Ireland has made an amazing turn-around in their economy in the last few years. Germany should be copying Ireland not trying to "even things up" by forcing EU job-killing measures on them.
Look, if the stinking EU doesn't watch out, the Irish will be running the whole thing in a few years anyway.
On a personal note, I very proudly fly the flag of the Irish Brigade (US Civil War) next to my US flag on holidays and St. Pat's day to commemorate my wife's heritage and the brave men who fought in that unit.
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