CIO Vantage Point;
Economic Outlook
January 02, 2013 Posted by:
Joe Morgan, CFA
The views expressed in this column are solely those of the author and do not reflect the views of SVB Financial Group, or Silicon Valley Bank, or any of its affiliates.
I'm going home
And when I want to go home, I'm going mobile
- The Who
One of the reasons I believe the euro currency union must breakup is the unwillingness of labor in the region to go mobile. An interesting article published this week argues different.
It seems German companies are reaching out to foreigners to fill all kinds of roles. And this reaching out isn't just in the form of recruiting but also includes cultural training and such basics as getting a drivers license and rewriting operations manuals for ease of interpretation.
Expanding the argument in the linked article, one can see successful German businesses reaching out for workers to help sustain the country's growth rate while keeping inflation in the bag.
Unfortunately, the examples cited (Indians, Americans, etc.) do not include individuals from other eurozone nations. Until Spaniards (with 25 percent unemployment) become willing to move to Germany (with 5 percent unemployment), it will be difficult for me to believe a single monetary policy is appropriate across the land.
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Can Labor Mobility Come to the Eurozone?January 02, 2013 Posted by: Joe Morgan, CFAThe views expressed in this column are solely those of the author and do not reflect the views of SVB Financial Group, or Silicon Valley Bank, or any of its affiliates.
I'm going home
And when I want to go home, I'm going mobile
- The Who
One of the reasons I believe the euro currency union must breakup is the unwillingness of labor in the region to go mobile. An interesting article published this week argues different.
It seems German companies are reaching out to foreigners to fill all kinds of roles. And this reaching out isn't just in the form of recruiting but also includes cultural training and such basics as getting a drivers license and rewriting operations manuals for ease of interpretation.
Expanding the argument in the linked article, one can see successful German businesses reaching out for workers to help sustain the country's growth rate while keeping inflation in the bag.
Unfortunately, the examples cited (Indians, Americans, etc.) do not include individuals from other eurozone nations. Until Spaniards (with 25 percent unemployment) become...
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