Economy and Business Info

Posts Tagged ‘economic’

Ace a few days the European Commission announced the contents of the much-heralded European Digital Agenda, the first of seven flagship initiatives under the 2020 European Strategy for smart growth, sustainable and integrated. It has set seven objectives, which will translate into a hundred steps, thirty of which are legislative in nature.

I hope this new European Union strategy, as necessary for future development of the European economy more successful than its predecessor does, the Lisbon Agenda does. Having examined the various documents submitted an ambitious proposal seems critical to the economic fortunes and welfare of Europeans in the coming years.

The implementation of the European Digital Agenda, contribute significantly to economic growth in the EU and distribute the benefits of the digital age among all sectors of society. As also contained a report by the Commission on the digital competitiveness of the European economy, half the productivity growth recorded in the last fifteen years has already been promoted by information technology and communications. See previous entry: The European Commission said the investment in the digital economy remains crucial. However, although it is expected that this trend will accelerate, Europe will need to apply a series of measures to exploit fully the potential benefits of the digital economy.

The chair of the Finance Committee of the National Assembly (AN), Deputy Ricardo Sanguine, attributed the decline in economic activity in Venezuela to the national electricity crisis.

Indicators of Central Bank of Venezuela (BCV) showed the close of the first quarter of this year a significant fall in gross domestic product (GDP) of 5.8 points.

“We are in an energy crisis, and all productive activity, industrial, service, agriculture, electricity demand,” said the deputy Sanguine interviewed by José Vicente Hoy.

This is the fourth quarter continued to decline in the Venezuelan economy. ‘This had been observed’, Sanguine said.

‘It warned that we were down this quarter but did not imagine that 5.8 points, which is a substantial rate, which are visible from the effects of the oil sabotage and coup detach. “

The congressman recalled that despite the economic downturn in the episodes mentioned that took place in 2002, ‘advanced greatly and the following year we had significant growth, not seen in the history of Venezuela’s economy. “

‘on this occasion can not be different, “said Rep. Purist.

“We are encouraging the development of productive activities of social property, social production companies in all areas: agriculture, industry, service, distribution and marketing of products,” he said.

Sanguine said that the state control of strategic companies that were in private hands would boost the economy.

Venezuela faced in late 2009 and early 2010 an electricity crisis due to a severe drought that affected the course of the rivers that feed the main dams that generate electricity to the country.

This situation prompted the government to build national systems of electricity production alternatives to hydropower. The Geri dam supplies the country 70% of its energy.

Dr Denison said it was theoretically possible for countries to leave the euro, as well as being driven by choice. However, despite the difficulties experienced now, think it is unlikely the departure of any member country of the Euro. Even so, says the crisis has shown that changes will be needed in various parts related to the Euro, and describes some of these.

The changes mentioned are

1.Cambios in rules of the Stability and Growth Pact in the European Union, which began operating in 1997 and was a key part of deal that led to the introduction of euro.

2. Transparencia, especially of the accounts presented by different countries.

3. How countries require compliance with the conditions and obligations, including any penalties for noncompliance.

4. Coordinación taxation between countries.

Structural 5.Reformas in different countries.

The conclusion of Dr. Denison is that, when overcome current challenges, the countries of the Euro would be strengthened and increasingly linked and coordinated. Also says, if things continue as they are, the countries of the Euro may also interfere in economic affairs of other countries.
Let us see how they like big countries after the crisis and let us begin to falter in its economic policies again, when received, not only calls attention to its young members, but asking them to account. It will be interesting to see.
Good to hear voices informed restraint and without panic, which is uncommon, especially as there are markets and stock exchanges