0 penilaian0% menganggap dokumen ini bermanfaat (0 suara)
10 tayangan16 halaman
The largest ban&s in'reece(#ational) Alpha) Euroban&) and Piraeus (reported +,-+ billion in losses!or the.ear + / 00Almost 012 o! ;reece3s 'DP4 5t included the bond s$ap that had saddled pri6ate sector bondholders $ith a 892 loss;escue!unds $ere alread.
The largest ban&s in'reece(#ational) Alpha) Euroban&) and Piraeus (reported +,-+ billion in losses!or the.ear + / 00Almost 012 o! ;reece3s 'DP4 5t included the bond s$ap that had saddled pri6ate sector bondholders $ith a 892 loss;escue!unds $ere alread.
The largest ban&s in'reece(#ational) Alpha) Euroban&) and Piraeus (reported +,-+ billion in losses!or the.ear + / 00Almost 012 o! ;reece3s 'DP4 5t included the bond s$ap that had saddled pri6ate sector bondholders $ith a 892 loss;escue!unds $ere alread.
Delegate: Juan Pablo Salgado Topic: Euro Crisis Topic A: The uture o! the Euro"one: A #e$ Direction %pening statement The largest ban&s in 'reece(#ational) Alpha) Euroban&) and Piraeus(reported *+,-+ billion in losses !or the .ear +/00- Almost 012 o! 'reece3s 'DP4 5t included the bond s$ap that had saddled pri6ate7sector bondholders $ith a 892 loss- :ut no $orries- ;escue !unds $ere alread. lined up at the <ellenic inancial Stabilit. und) $hich had recei6ed *+= billion in bonds !rom the European inancial Stabilit. acilit. the da. be!ore(part o! the second bailout pac&age o! *01/ billion that the Troi&a o! the EC:) 5>) and EU had orchestrated- The ban&s) not the 'ree&s themsel6es) are getting bailed out- The big mone. is rolling in(and the e6er $il. 'ree& political elite ha6e !igured it out- ;ead---- The.3re #ot E6en Tr.ing An.more- :ut ?solidarit. o! the union has its limits)@ said e6en so!t7spo&en Jens Aeidmann) President o! the :undesban& on Saturda.- ?ThatBs $h. $e lin&ed the aid to conditions----@ one o! the conditions is to retire a portion o! 'reece3s pri6ate sector debt b. bu.ing bac& its bonds $ith discounts to !ace 6alue- This $ill be to obtain about 19 billion euros in loans !or 'reece- Against the bac&ground o! the current debt crisis important measures to impro6e the economic go6ernance in the EU and the euro area in particular ha6e been ta&en- EU >ember States ha6e strengthened the Stabilit. and 'ro$th Pact) introduced a ne$ mechanism to pre6ent or correct macroeconomic imbalances and are increasingl. coordinating structural policies- These are crucial steps to strengthen the CEC 7 the economic leg 7 o! the E>U and to ensure the success o! the euro in the long run- Apart !rom ma&ing tra6elling easier $ithin the EU) a single currenc. ma&es economic and political sense- The !rame$or& under $hich the euro is managed underpins its stabilit.) contributes to lo$ in!lation and encourages sound public !inances- A single currenc. is also a logical complement to the single mar&et and contributes to ma&ing it more e!!icient- Using a common currenc. increases price transparenc.) eliminates currenc. exchange costs) !acilitates international trade and gi6es the EU a more po$er!ul 6oice in the $orld- The si"e and strength o! the euro area also better protect it !rom external economic shoc&s) such as unexpected oil price rises or turbulence in the currenc. mar&ets- Last but not least) the euro gi6es the EU3s citi"ens a tangible s.mbol o! their European identit.- 'i6en the current economic crisis) the European Union should mo6e to a deeper union- The Euro Crisis has put the entire union in an undesirable position in $hich all countries need to $or& as ConeC in order to secure a stable outcome to this chaos- The economic crisis has had a negati6e impact on se6eral sectors o! the European econom.- irst) it se6erel. a!!ected the Cpotential gro$thC o! Europe in $holeD a notable decrease in the unionBs gro$th rate has occurred ma&ing it di!!icult to accomplish the CEurope +/+/C proEect- Second) the European labor mar&et has been deepl. disturbed and the unemplo.ment rate has mounted- inall.) the crisis has negati6el. impacted the budgetar. positions o! copious countries) b. increasing public debt de6elopments and increasing negati6e !iscal de!icit- 5n the end) this economic crisis could spread and lead to an economic collapse in the entire continent- 5t is the responsibilit. o! the union to bond together in order to a6oid such possible chaos- Luxembourg is one o! the smallest but $ealthiest countries) the economic crisis a!!ects the potential gro$th o! the European Union) unemplo.ment) budgetar. position o! countries related $ith the increased o! public debt and negati6e !iscal debt- The EU must sta. strongl. united to o6ercome the euro crisis that a!!ects European econom.- The $el!are o! the people in the Euro"one is in Eeopard. due to the economic crisis as such the Council o! the European Union must address this topic- Luxembourg is $ealth. and bene!its !rom the ser6ices) ma&ing shi!ts in the international econom.) the !inancial sector $ere se6erel. damaged $ith approximatel. F02 !rom the total labor !orce !rom !oreign countries G+/F)/// represents the total population o! the labor !orce in Luxembourg) o! $hom 0+=)9// are !oreign cross7border $or&ers commuting primaril. !rom rance) :elgium) and 'erman.H- Strengthening the EU is one concerned o! Luxembourg supporting the de6elopment o! the Euro"one econom. and the implementations to pre6ent !uture economic crisis- The !iscal position has a!!ected the countr. and it has deteriorated) but this has been mar&edl. eased due to automatic stabili"ers and lo$er re6enues !rom !inancial acti6ities- urther support has been pro6ided !rom the EU) ;egarding consumer prices) the Luxembourg in!lation rate rose !rom +-/2 in earl. +/0/ to a little o6er 1-=2 in the +nd Iuarter o! +/00- Polic. and the actions o! the countr. are considered !or national le6el and the impact in international aspects- Position As such) Luxembourg supports strengthening the EU) !ostering the Euro"one econom. and the implementation o! measures to pre6ent economic crises in the !uture- Ahile Luxembourg is considered one o! the smallest) .et) $ealthiest countries in the $orld) its $ealth has not protected it !rom the e!!ect o! the current crisis- The Luxembourg econom. is based principall. on ser6ices) ma&ing shi!ts in the international econom. particularl. acute- Ahile international trade has notabl. decreased) LuxembourgBs !inancial sector $as se6erel. damaged- Aith approximatel. F02 !rom the total labor !orce !rom !oreign countries G+/F)/// represents the total population o! the labor !orce in Luxembourg) o! $hom 0+=)9// are !oreign cross7border $or&ers commuting primaril. !rom rance) :elgium) and 'erman.H) the residentsB unemplo.ment has been in constant increase Je6en be!ore the economic crunch the countr. is currentl. !acing- The crisis made the situation $orst- The !iscal position o! the countr. has deteriorated) but this has been mar&edl. eased due to automatic stabili"ers and lo$er re6enues !rom !inancial acti6ities- urther support has been pro6ided !rom the EU- ;egarding consumer prices) the Luxembourg in!lation rate rose !rom +-/2 in earl. +/0/ to a little o6er 1-=2 in the +nd Iuarter o! +/00- Luxembourg is !ollo$ing the global trend !or rising in!lation due to the increase in commodit. prices since mid7+//K- %n the other hand) the European So6ereign Debt Crisis has hindered se6eral other macroeconomic de6elopments !rom expanding- or example) the pri6ate consumption) gross !ixed capital !ormation) consumer prices and so !orth ha6e notabl. decreased- Plan o! action The go6ernment ta&es measures in the issue and establishes a plan o! action: 0- Amending the Lisbon treat. The Presidenc. belie6es that onl. a strong common mar&et $ould help Europe o6ercome the crisis and e6en ma&e a stronger mar&et in the !uture- <e also proposes to amend the treat. $ith the concluded !iscal pactD promising the compatibilit. o! the EU la$) the !iscal pact $ould !oster the Lisbon treat.- Luxembourg $ould encourage such amendments to ta&e place as it $ill help initiating a strongerLsingle mar&et that could o6ercome the crisis and secure a better !uture !or the continent- +- 5ntroducing Stabilit. bonds A!ter numerous !ailed trials to !orm a tighter union in the past t$o .ears) rumors sa. that an agreement bet$een all Euro"one leaders to ha6e a tighter union is more li&el. to happen- The European Commission) the administrati6e arm o! the union) has published its C'reen PaperC in $hich it laid out three possible options- Three di!!erent $a.s $ere introduced to sho$ di!!erent proposals !or the bonding s.stem: i7 Joint EU bonds: #eeded to help countries in se6ere troubles- <o$e6er) this solution is ris&.D it could shi!t the burden o! the debt to #orthernLAestern European countries- 5t could be considered b. Luxembourg i! hea6. regulations and en!orcements are to be implemented- ii7 Partial EU bonds: Thus !ar) this has been the response ta&en b. the EC:- 5t $or&ed $ell and pro6ed to be e!!icient- Aor&s $ell $ith $ealth. countries in Europe such as Luxembourg- >ost li&el. it is not enough !or countries !acing huge !inancial problems such as 'reece) Spain) Portugal) 5reland and so !orth- iii7 #o Eoint EU bonds: $hat the EU has done in the past) continuing on this path could ma&e the crisis longer- 5t is considered the less desired option !or all countries Jincluding Luxembourg- 1- The 12 rule o! de!icits This la$ mainl. bans all countries !rom running a de!icit o! more than 1 2 e6er. .ear- This percentage is incredibl. lo$ and se6eral countries) $ith strong econom.) did not manage to ma&e it J'erman. is a good example- Luxembourg $ould support such ruleD ho$e6er) a slight increase in the percentage o!!ered $ould ma&e it more !easible !or multiple countries to stic& to it and not surpass the percentage agreed upon- Aith other countries su!!ering !rom an economic crisis such as Spain running a .earl. de!icit $aging !rom 0/70=2) a F2 .earl. de!icit $ould most li&el. be a rational percentage that $ill not put the continent at ris&- 9- European inancial Stabilit. acilit. Located in Luxembourg) the ES pro6ides initial !inancial help to all countries in the Euro"one that are !acing economic problems- 5t helped baling out Portugal) 5reland and other European countries be!ore positi6e outcomes $ere achie6ed- Luxembourg has been pre6iousl. helped b. this entit. and this $as a reason $h. the conseIuences o! the crisis in Luxembourg compared- %rgani"ations related on the euro crisis in Luxembourg DEM Labor Administration AIP Pro!essional 5nsertion Acti6ities ALJ Local Mouth Action CAE Aor&7Support Contract CASNA Aelcome center !or ne$l. arri6ed students CCSS Joint Social Securit. Centre CEPS Centre !or Population) Po6ert. and Socio7 Economic Polic. Studies CES Economic and Social Council CFE inancial Contributions b. the State CIE 5nitial Emplo.ment Contract CIE-EP 5nitial Emplo.ment Contract 7 Practice CIPU Urban Polic. 5n!ormation Cell CNS #ational <ealth und CPTE Permanent Committee !or Labor and Emplo.ment CRP Public ;esearch Center CSL Emplo.eesB Chamber CTIE Centre !or 5n!ormation Technologies o! the State DIRD 'ross domestic expenditure on ; N D DSGE D.namic Stochastic 'eneral EIuilibrium EFT Labor orce Sur6e. EPC Economic Polic. Committee ETS Emission Trading Scheme FNR #ational ;esearch und FNS #ational Solidarit. und ESF European Social und GHG 'reenhouse 'as Emissions IFBL Luxembourg 5nstitute o! :an&ing Education IGSS 5nspectorate 'eneral !or Social Securit. Administration IVL Integratives Verkehrs-und Landesentwicklungskonzept OCM %pen Coordination >ethod NEET #ot in Education) Emplo.ment or Training NREAP #ational ;ene$able Energies Action Plan NGO #on 'o6ernmental %rgani"ation PAEE #ational C%+ Emissions Ouota Allocations Plan GDP 'ross Domestic Product NRP #ational ;e!orm Program PRO-SUD S.ndicate o! Communities !or the Promotion and De6elopment o! the South ;egion SGP Stabilit. and 'ro$th Program R&D ;esearch and De6elopment RDI ;esearch7De6elopment75nno6ation RMG 'uaranteed >inimum 5ncome SNAS #ational Social Action Ser6ice SNJ #ational Mouth Ser6ice SPOCS Simple Procedures %nline !or Cross7 border Ser6ices SRAS ;egional Social Action Ser6ice SSM >inimum $age STATEC Luxembourg national statistical institute SVO Poluntar. 'uidance Ser6ice SYVICOL S.ndicate o! Cities and To$ns in Luxembourg EU European Union UEL Union des entreprises luxembourgeoises GEmplo.er3s %rgani"ationH
Topic B: Europ !"!" Spci#$ L%i&$#'i( S&&io) o) Soci#$ Po$ic* %pening statement 5n the national re!orm o! Luxembourg there are goals related and in cooperation $ith the EU) the support and assistance in the issue must be conEoined to e6er. state o! the EU to accomplish the goals stated in the European commission and their la$s- Luxembourg has achie6ed rapid and sustained gro$th o6er the past += .ears and li6ing standards are the highest in the %ECD- <o$e6er) !ollo$ing the crisis) it no$ !aces the possibilit. o! $ea&er per!ormance in the .ears to come e6en i! li6ing standards $ill remain high- This underlines the importance o! structural policies to help boost gro$th and sustain high incomes- A part !rom measures to impro6e the !unctioning o! the labor mar&et and raise public sector e!!icienc.) there are a number o! polic. priorities- Education per!ormance is relati6el. $ea&: it does not match the demand !or highJs&illed $or&ers and ma&es it harder !or residents to !ind Eobs- >aEor re!orms no$ under$a. to impro6e the education s.stem are $elcome- Product mar&et regulations are highl. restricti6e o! competition) particularl. !or pro!essional ser6ices and in the retail sector- This leads to high prices and ine!!icienc.- The $ea& en!orcement o! competition polic. is due to inadeIuate resources and the !ragmented structure o! the competition authorities- <ousing costs are high b. comparison $ith the surrounding region and other !inancial centers- This contributes to large !lo$s o! commuters- Ahile increasing housing suppl. is recogni"ed goal) this has been !rustrated b. polic. barriers that restrict house building- At the same time) housing demand is boosted b. tax subsidies- The transport in!rastructure is being upgraded and extended- <o$e6er) the existing net$or& could be used more e!!icientl. through user charges- Luxembourg has the highest per capita C%+ emissions in the %ECD- 5t is committed to ma&ing large reductions) and measures to increase energ. e!!icienc. are being put in place- The &e. problem) ho$e6er) is large sales o! motor !uels to people $ho li6e in the surrounding countries- Car taxes and !uel duties ha6e increased but there is scope to go !urther- Position The European societ. is changing) in!luenced b. di!!erent !actors such as technological progress) the globali"ation o! trade and an ageing population- European emplo.ment) social a!!airs and eIual opportunities policies contribute to impro6ing people3s li6ing conditions $ith a 6ie$ to sustainable gro$th and greater social cohesion- The European Union GEUH pla.s the role o! a trigger in social change- 5t has introduced a protecti6e legal !rame$or& !or European citi"ens- 5t !osters the cooperation o! >ember States) the coordination and harmoni"ation o! national policies) and the participation o! local authorities) unions) emplo.ers3 organi"ations and other sta&eholders in6ol6ed- The priorit. aims o! this polic. are to increase emplo.ment and $or&er mobilit.) to impro6e the Iualit. o! Eobs and) $or&ing conditions) to in!orm and consult $or&ers) to combat po6ert. and social exclusion) to promote eIualit. bet$een men and $omen) and to moderni"e social protection s.stems- The Europe +/+/ Strateg. is based on initiati6es aimed at intelligent) sustainable and inclusi6e gro$th in the European Union GEUH- 5n the coming decade) the priorities set shall enable the le6el o! emplo.ment) producti6it. and social cohesion o! the EU countries to be increased- This strateg. is implemented through European and national obEecti6es) $hich in6ol6e actions coordinated b. the national) regional and local authorities o! the EU >ember States) and also concerted actions $ith social partners and ci6il societ.- #ational ;e!orm Program !or the 'rand Duch. o! Luxembourg under the Europe +/+/ Strateg. 5n the recent economic crisis the e!!ects o! reducing greatl. the emplo.ment and potential production gro$th) $ea&ness the state public !inances in the European econom. reco6er. plan enabled EU member states to !ace the crisis- Council o! the European Union in the +/+/ proEect is see&ing the stabilit. !uture o! the EU on social polic.- ;ND ta&es on a !undamental character in a small) 6er. open econom.- LuxembourgBs structural speci!icities 7 its si"e) its industrial histor.) the pre6alence o! ser6ices and 6er. small companies in its producti6e s.stem and the presence o! a large number o! multinational subsidiaries in the countr. 7 combine to impact ;ND acti6ities) their de6elopment and their measure through indicators) including the indicator C'ross domestic expenditure on ;ND Gas a percentage o! 'DPHC- #ational re!orm Luxembourg ta&es actions to cooperate $ith the EU and states measures in the national re!orm program- Luxembourg applied C&no$ledge triangleC $ith the Cit des Sciences) multi7sector speciali"ation policies) the Luxembourg national librar. proEects in the area o! digital in!ormation and its role as guardian o! intellectual production and national pro6ider o! documentation ser6ices) the master plan !or implementing in!ormation technologies $ithin the State) the third S>E action plan- The En6ironment and Climate Partnership that implements a national plan to reduced C%+ emissions) the national climate change action plan) the rene$able energies action plan) the energ. e!!icienc. action plan) the master plan !or territorial reorgani"ation) the rural de6elopment program- Promotion o! social inclusion and the !ight against po6ert.) the eIual rights action plan addressing socio7economic relations bet$een men and $omen) pilot proEects and re!orms in relation $ith earl. school lea6ers- inancial a!!airs >acro7inancial Stabilit. Price and cost competiti6eness >acro7structural bottlenec&s to sustainable gro$th ;e!orming the pension s.stem A $ell7!unctioning and stable !inancial sector Ensuring !ull utili"ation o! the econom.Bs labor potential 5mpro6e the contribution o! the education s.stem to human capital !ormation Thematic !or the goals to achie6e Emplo.ment obEecti6e and the &e. measures !or achie6ing it ;ND obEecti6e and the &e. measures !or achie6ing it Climate change and energ. obEecti6e and the &e. measures !or achie6ing it 'reenhouse gas emissions obEecti6e ;ene$able energies obEecti6e Energ. e!!icienc. obEecti6e Education obEecti6e and the &e. measures !or achie6ing it Earl. school lea6er3s obEecti6e Social inclusion obEecti6e and the &e. measures !or achie6ing it >ethodolog. and coordination3s to achie6ed the goals Coordination o! the distribution o! spatial resources #ational o$nership Communication E6aluation) monitoring and !ollo$7up Coordination $ith structural !unds A ne$ &ind o! gro$th Gsmart) sustainable and inclusi6eH J mainl. b.: impro6ing s&ills le6els and Gli!e7longH education boosting research and inno6ation more use o! smart net$or&s and the digital econom. moderni"ing industr. greater energ. and resource e!!icienc.- Stronger go6ernance through: regular and transparent monitoring Leadership at the highest political le6el J the European Council- :ecause the crusade to &eep Europe competiti6e can bene!it !rom coordination at EU le6el- The EU is not inter6ening in these polic. areas) merel. o!!ering the bene!it o! its o6er6ie$ position to ma&e recommendations that should help indi6idual countries- The EU is see&ing to help because the sta&es are &o high J Europe needs strong economic gro$th and high le6els o! emplo.ment to sustain its le6els o! social protection) especiall. $ith its ageing population- %rgani"ations related on in Luxembourg: DEM Labor Administration AIP Pro!essional 5nsertion Acti6ities ALJ Local Mouth Action CAE Aor&7Support Contract CASNA Aelcome center !or ne$l. arri6ed students CCSS Joint Social Securit. Centre CEPS Centre !or Population) Po6ert. and Socio7 Economic Polic. Studies CES Economic and Social Council CFE inancial Contributions b. the State CIE 5nitial Emplo.ment Contract CIE-EP 5nitial Emplo.ment Contract 7 Practice CIPU Urban Polic. 5n!ormation Cell CNS #ational <ealth und CPTE Permanent Committee !or Labor and Emplo.ment CRP Public ;esearch Center CSL Emplo.eesB Chamber CTIE Centre !or 5n!ormation Technologies o! the State DIRD 'ross domestic expenditure on ; N D DSGE D.namic Stochastic 'eneral EIuilibrium EFT Labor orce Sur6e. EPC Economic Polic. Committee ETS Emission Trading Scheme FNR #ational ;esearch und FNS #ational Solidarit. und ESF European Social und GHG 'reenhouse 'as Emissions IFBL Luxembourg 5nstitute o! :an&ing Education IGSS 5nspectorate 'eneral !or Social Securit. Administration IVL Integratives Verkehrs-und Landesentwicklungskonzept OCM %pen Coordination >ethod NEET #ot in Education) Emplo.ment or Training NREAP #ational ;ene$able Energies Action Plan NGO #on 'o6ernmental %rgani"ation PAEE #ational C%+ Emissions Ouota Allocations Plan GDP 'ross Domestic Product NRP #ational ;e!orm Program PRO-SUD S.ndicate o! Communities !or the Promotion and De6elopment o! the South ;egion SGP Stabilit. and 'ro$th Program R&D ;esearch and De6elopment RDI ;esearch7De6elopment75nno6ation RMG 'uaranteed >inimum 5ncome SNAS #ational Social Action Ser6ice SNJ #ational Mouth Ser6ice SPOCS Simple Procedures %nline !or Cross7 border Ser6ices SRAS ;egional Social Action Ser6ice SSM >inimum $age STATEC Luxembourg national statistical institute SVO Poluntar. 'uidance Ser6ice SYVICOL S.ndicate o! Cities and To$ns in Luxembourg EU European Union UEL Union des entreprises luxembourgeoises GEmplo.er3s %rgani"ationH