Mood changes in Europe in favour of growth and jobs

The European Sting - Critical News & Insights on European Politics, Economy, Foreign Affairs, Business & Technology - europeansting.com

Economics is primarily a social not a mathematical science. Forgetting that may lead mathematicians to create toxic investment products like complicated derivatives, which have no other purpose than to cheat people. This misunderstanding may also lead executives like László Andor, EU Commissioner for Employment, Social Affairs and Inclusion, to talk about ‘labour market’ as if it was an open air Saturday vegetable vendition. It was like that when he delivered a speech last Tuesday entitled, “Building a Single European Labour Market must be part of the EU’s recovery strategy”.

All along the past two years of economic crisis and steeply rising unemployment in southern Eurozone countries, politicians in the north and Brussels bureaucrats kept insisting that the best solution to this problem is that the unemployed young of Greece, Spain, Italy and Portugal seek a job in Germany. Andor baptised it ‘creating one EU labour market’. Yet this proposal…

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