Business Spectator – Page 27 – Dr Oliver Hartwich

The Italian omen

12/08/2010

Europe’s problems remain painfully real. But it was wrong to believe that they would inevitably lead to a cataclysmic crisis. It now looks as if it’s going to be much worse. There is never going to be a solution, just a slow, ongoing decline. Not a purgatory from which there is an eventual escape route to heaven, but a Dantean inferno with its famous inscription above the gates: ‘Lasciate ogni speranza, voi ch’entrate’ – ‘Abandon all hope, ye who enter here.’

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Baking a recipe for migration

05/08/2010

If Germany needs an example of the human potential lying dormant in its Turkish community it should study the case of Ahmet Yaltirakli closely. And if Australians need reminding why migrants can be a great benefit to society, they should look at his case, too.

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Europe’s lesson too late?

29/07/2010

Through their economic good luck, Australians have been lulled into a false sense of safety. They feel invincible in the wake of a recent strong economic performance. They think they can afford the luxury of saying ‘no’ to further growth. To any European still remembering the 1980s, this has the same nostalgic quality as shoulder pads, Rubik’s cubes and those daggy Rick Astley songs. But actually, we would want to see the return of none of these.

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It’s time Henry had an umpire

22/07/2010

Opposition politicians are acutely aware of government’s ability to fiddle the figures to their desire. No shadow treasurer would be worth his salt if he did not complain about the dodgy nature of official forecasts. It is standard practice in Australia and elsewhere. But at least in Britain this could change now, and I am happy to say that I played a minor role in it.

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Australia’s choice between growth and decline

15/07/2010

Given the choice between managing Australia’s growing population and administering the demographic decline of wide parts of Europe, there should be no doubt which of the two is the more pleasant scenario. The task of responsible politicians is not to scare the population about migrants. It should be to explain the benefits that our growing population entails.

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Nuclear’s new dawn

08/07/2010

In many European countries nuclear technology is experiencing an unexpected renaissance. It is likely that nuclear power will play a significant role in Europe’s energy mix for decades to come.

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Europe’s not-so common market

01/07/2010

Despite repeated calls for greater unity, the European common market still does not work properly. Instead of opening their borders to the free movement of people, products, services and capital as required under various treaties, member states are still being caught in covert and sometimes open protectionism. This undermines their credibility about the future of the currency, too.

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The great China tech rip-off

24/06/2010

There is no doubt that China’s resilient economic growth has prevented the economic crisis from becoming an economic catastrophe for the world. Yet among the dark sides of China’s rising economic power is an astonishing disrespect for intellectual property.

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Nothing can save Spain

17/06/2010

There are growing concerns that the Iberians will be the next casualties of the economic crisis.The widening spread between Spanish securities and German bunds as well as the increasing costs of credit default swaps on Spain’s savings banks both point in the same direction. Markets are betting against Spain and its financial institutions.

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Germany may yet abandon Greece

10/06/2010

If international markets or European politicians want to know the future of the euro, they better not ask Germany’s constitutional court. Especially on Greek affairs, the Oracle of Delphi may give a much clearer answer.

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