Europe should be able to represent an area of growth for the next 10-15 years.
Inflation is at almost zero and interest rates are at a minimum.
Unemployment, however, is still far too high. This will entail the reduction of overtime, more part-time work for more people and flexible working times. Such determination to act on the employment issue will certainly be needed in the coming months, as the fall-out from the Asian economic crisis and tumbling world stock markets continues. The last month has seen heavy manufacturing job losses in the north of England and in Scotland. Fujitsu and Siemens have shedded 2,000 workers, while Ford has put one of its major factories on a four-day week.