The new old Europe

Europe is in danger of losing its
creative juices through self-selected
isolationism. Austria’s courage and
entrepreneurship in investing in the
CEE region fueled the economies but
more importantly, provided recognition and hope. Interest in learning local
languages and understanding the cultures may be due to a shared past but
the commitment is still noteworthy.
If Austria had not invested, perhaps
the EU may have asked all western
countries to provide substantive support,
perhaps the EBRD would have stepped in. Instead private business led and is now critically
viewed by those with slower growth
rates, those now choosing isolationism,
local jobs for locals only. In 2000 economist Jeffrey Frankel pointed out that
the greatest number of patents were
in the USA, but the greatest number of
university graduates were in Europe. It
seems isolationism, protectionism cut
off the creative interchange. Immigration offered the US its competitive
advantage. In 2009 President Obama
wants a closer relationship with Europe. But can Europe have a close relationship
with itself? - Ausgewählte Berichte und Kommentare aus den Schwerpunkt-Ausgaben bereits erschienener economy Printausgaben.