The jobs-rich future
we seek cannot be won by monetary policy alone. A hard road of profound
structural change lies ahead
Ever since the financial crisis first broke, it has
become fashionable to see the world economy as a two-speed affair; Western
economies seemed to have sunk into a state of permanent decline, but emerging
markets were surging ahead.
Now the tables appear to be reversing. If there was
one sentiment that defined Davos last week, it was renewed optimism about
advanced economies. The financial crisis had been finally nailed, it was
confidently asserted, even if the “normality” of steady growth continued to
elude us.
Our opinion is that we can’t
be too optimistic about the global economic situation because we are suffering
one of the most important crises of all times and everyone knows that economy
is very unstable and can change a lot from one day to other.
For those reasons we can’t
be optimistic, because if we don’t pay any attention to the economy a new
period of crisis, like the one which we are suffering, could start again and it
could we even worse, so because of that we have to be extremely careful with
the economy of our countries.
