China, Europe and the Netherlands: Opportunity Is Knocking at Our Doors
Yüklə 19,38 Mb. Pdf görüntüsü
|
- Bu səhifədəki naviqasiya:
- Likely financial and economic disruption
- Research Collaboration
- Strategic Conferences and Workshops
- Research Mobilit y
- Research F unding
- Strategic Confer ences and W orkshops
038 Apr. 2015 for Euro-area creditors are still feasible. In fact, the average maturity could be extended beyond the current 30 years. Also, the lending rate on the European loans could be reduced even further. All of this would not translate into more money for Greece to spend right now, but it would greatly improve the sustainability of the debt burden further. Likely financial and economic disruption An exit of Greece from the euro would cause exten- sive financial and economic disruption, with significant negative impacts on its domestic economy, prompting bank runs and capital flights from Greece. Capital con- trols would have to be enacted, which could not then be lifted easily, as shown in the case of Cyprus. A newly issued Greek currency would collapse in value, leading to high inflation and at the same time forcing banks and businesses with large foreign currency debts into bankruptcy. Furthermore, Greece would be cut out of the market for a certain time and borrowing costs for Greek businesses and society would skyrocket, con- tributing even further to another recessionary develop- ment. Compared to 2012, the risk of financial contagion to other euro area countries is less acute, with the ECB now acting as lender of last resort, a healthier financial system and a new European governance structure set in place. However, a likely massive depreciation of a new Greek currency, followed by a potential default of Greek banks and non-banks would endanger private sector claims on Greece from all over the Euro area, on top of the official losses, which would have to be ac- counted for. Also, the long-term political effects of the irreversibility of the Euro should not be underestimat- ed. This would mean that the euro area has failed to establish the tools necessary to guarantee the survival of its weakest members. To conclude, an exit is unlikely to help the Greek economy much, as exports do not react considerably to changes in wage costs due to the sclerotic economy. Instead, it is in the interest of both Greece and its eu- ro-area partners to find a comprehensive agreement that would avoid default and exit. Sources: AMECO Autumn 2014 Forecast and Eurostat’s quarterly national accounts dataset. Note: Nominal change in exports is given as % of 2014 GDP. Nominal change in wages calculated as nominal % change between Q4 2007 and Q1 2014. 45 40 35 30 25 20 15 10 5 0 - 5 -20 -15 -10 -5 0 5 10 15 20 25 30 35 Greece Estonia Ireland Latvia Netherlands Belgium Portugal Slovenia Spain Germany Austria France Italy Finland Lithuania Slovakia Guntram B. Wolff Director of Bruegel Nominal change in wages 2007-2014 JOIN A WORLD LEADING RESEARCH UNIVERSITY NETWORK, TACKLING GLOBAL CHALLENGES THROUGH INTERNATIONAL COLLABORATION. WUN is a global network driving international research collaboration and developing research talent. Our membership spans 16 universities from 10 countries on 5 continents. The WUN Global China Group includes our program on the two way understanding of China. BENEFITS OF MEMBERSHIP Research Collaboration We foster over 100 active research programs, engage over 2,000 researchers and students, and work with government, international agencies and industry to find solutions to some of the world’s most significant challenges. Our research is focussed on four Global Challenges: Responding to Climate Change, Public Health (Non-communicable Disease), Global Higher Education and Research, and Understanding Cultures. Research Mobility Our Research Mobility Programme (RMP) provides opportunities for postgraduate students and early career researchers from member universities to spend periods of up to three months at a partner university. Research Funding Our Research Development Fund (RDF) provides seed funding to support bright researchers with great ideas to develop their concept and form international research teams that can subsequently seek long-term funding from external funding agencies. Strategic Conferences and Workshops Throughout the year, WUN hosts conferences, workshops, seminars and events that bring an international community of researchers together to share ideas, spark collaboration and further our ground-breaking research. These events partner with leading universities, academic societies, international organisations, foundations and governments to ensure our research has relevance and impact. For more information visit www.wun.ac.uk Worldwide Universities Network JOIN A WORLD LEADING RESEARCH UNIVERSITY NETWORK, TACKLING GLOBAL CHALLENGES THROUGH INTERNATIONAL COLLABORATION. WUN is a global network driving international research collaboration and developing research talent. Our membership spans 16 universities from 10 countries on 5 continents. The WUN Global China Group includes our program on the two way understanding of China. BENEFITS OF MEMBERSHIP Research Collaboration We foster over 100 active research programs, engage over 2,000 researchers and students, and work with government, international agencies and industry to find solutions to some of the world’s most significant challenges. Our research is focussed on four Global Challenges: Responding to Climate Change, Public Health (Non-communicable Disease), Global Higher Education and Research, and Understanding Cultures. Research Mobility Our Research Mobility Programme (RMP) provides opportunities for postgraduate students and early career researchers from member universities to spend periods of up to three months at a partner university. Research Funding Our Research Development Fund (RDF) provides seed funding to support bright researchers with great ideas to develop their concept and form international research teams that can subsequently seek long-term funding from external funding agencies. Strategic Conferences and Workshops Throughout the year, WUN hosts conferences, workshops, seminars and events that bring an international community of researchers together to share ideas, spark collaboration and further our ground-breaking research. These events partner with leading universities, academic societies, international organisations, foundations and governments to ensure our research has relevance and impact. For more information visit www.wun.ac.uk Worldwide Universities Network JOIN A WORLD LEADING RESEARCH UNIVERSITY NETWORK, TACKLING GLOBAL CHALLENGES THROUGH INTERNATIONAL COLLABORATION. WUN is a global network driving international research collaboration and developing research talent. Our membership spans 16 universities from 10 countries on 5 continents. The WUN Global China Group includes our program on the two way understanding of China. BENEFITS OF MEMBERSHIP Research Collaboration We foster over 100 active research programs, engage over 2,000 researchers and students, and work with government, international agencies and industry to find solutions to some of the world’s most significant challenges. Our research is focussed on four Global Challenges: Responding to Climate Change, Public Health (Non-communicable Disease), Global Higher Education and Research, and Understanding Cultures. Research Mobility Our Research Mobility Programme (RMP) provides opportunities for postgraduate students and early career researchers from member universities to spend periods of up to three months at a partner university. Research Funding Our Research Development Fund (RDF) provides seed funding to support bright researchers with great ideas to develop their concept and form international research teams that can subsequently seek long-term funding from external funding agencies. Strategic Conferences and Workshops Throughout the year, WUN hosts conferences, workshops, seminars and events that bring an international community of researchers together to share ideas, spark collaboration and further our ground-breaking research. These events partner with leading universities, academic societies, international organisations, foundations and governments to ensure our research has relevance and impact. For more information visit www.wun.ac.uk Worldwide Universities Network JOIN A WORLD LEADING RESEARCH UNIVERSITY NETWORK, TACKLING GLOBAL CHALLENGES THROUGH INTERNATIONAL COLLABORA TION. WUN is a global network driving international r esearch collaboration and developing resear ch talent. Our membership spans 16 universities from 10 countries on 5 continents. The WUN Global China Group includes our program on the two way understanding of China. BENEFITS OF MEMBERSHIP Research Collaboration We foster over 100 active r esearch pr ograms, engage over 2,000 resear chers and students, and work with government, international agencies and industry to find solutions to some of the world’s most significant challenges. Our resear ch is focussed on four Global Challenges: Responding to Climate Change, Public Health (Non-communicable Disease), Global Higher Education and Research, and Understanding Cultur es. Research Mobilit y Our Research Mobility Pr ogramme (RMP) provides opportunities for postgraduate students and early career r esearchers fr om member universities to spend periods of up to three months at a partner university . Research F unding Our Research Development Fund (RDF) pr ovides seed funding to support bright resear chers with great ideas to develop their concept and form international r esearch teams that can subsequently seek long-term funding from exter nal funding agencies. Strategic Confer ences and W orkshops Throughout the year , WUN hosts conferences, workshops, seminars and events that bring an inter national community of resear chers together to share ideas, spark collaboration and further our ground-br eaking resear ch. These events partner with leading universities, academic societies, international organisations, foundations and gover nments to ensure our r esearch has r elevance and impact. For more information visit www.wun.ac.uk Wor ldwide Universities Net wor k JOIN A WORLD LEADING RESEARCH UNIVERSITY NETWORK, TACKLING GLOBAL CHALLENGES THROUGH INTERNATIONAL COLLABORA TION. WUN is a global network driving international r esearch collaboration and developing resear ch talent. Our membership spans 16 universities from 10 countries on 5 continents. The WUN Global China Group includes our program on the two way understanding of China. BENEFITS OF MEMBERSHIP Research Collaboration We foster over 100 active r esearch pr ograms, engage over 2,000 resear chers and students, and work with government, international agencies and industry to find solutions to some of the world’s most significant challenges. Our resear ch is focussed on four Global Challenges: Responding to Climate Change, Public Health (Non-communicable Disease), Global Higher Education and Research, and Understanding Cultur es. Research Mobilit y Our Research Mobility Pr ogramme (RMP) provides opportunities for postgraduate students and early career r esearchers fr om member universities to spend periods of up to three months at a partner university . Research F unding Our Research Development Fund (RDF) pr ovides seed funding to support bright resear chers with great ideas to develop their concept and form international r esearch teams that can subsequently seek long-term funding from exter nal funding agencies. Strategic Confer ences and W orkshops Throughout the year , WUN hosts conferences, workshops, seminars and events that bring an inter national community of resear chers together to share ideas, spark collaboration and further our ground-br eaking resear ch. These events partner with leading universities, academic societies, international organisations, foundations and gover nments to ensure our r esearch has r elevance and impact. For more information visit www.wun.ac.uk Wor ldwide Universities Net wor k JOIN A WORLD LEADING RESEARCH UNIVERSITY NETWORK, TACKLING GLOBAL CHALLENGES THROUGH INTERNATIONAL COLLABORA TION. WUN is a global network driving international r esearch collaboration and developing resear ch talent. Our membership spans 16 universities from 10 countries on 5 continents. The WUN Global China Group includes our program on the two way understanding of China. BENEFITS OF MEMBERSHIP Research Collaboration We foster over 100 active r esearch pr ograms, engage over 2,000 resear chers and students, and work with government, international agencies and industry to find solutions to some of the world’s most significant challenges. Our resear ch is focussed on four Global Challenges: Responding to Climate Change, Public Health (Non-communicable Disease), Global Higher Education and Research, and Understanding Cultur es. Research Mobilit y Our Research Mobility Pr ogramme (RMP) provides opportunities for postgraduate students and early career r esearchers fr om member universities to spend periods of up to three months at a partner university . Research F unding Our Research Development Fund (RDF) pr ovides seed funding to support bright resear chers with great ideas to develop their concept and form international r esearch teams that can subsequently seek long-term funding from exter nal funding agencies. Strategic Confer ences and W orkshops Throughout the year , WUN hosts conferences, workshops, seminars and events that bring an inter national community of resear chers together to share ideas, spark collaboration and further our ground-br eaking resear ch. These events partner with leading universities, academic societies, international organisations, foundations and gover nments to ensure our r esearch has r elevance and impact. For more information visit www.wun.ac.uk Wor ldwide Universities Net wor k 博鳌观察第十一期英文-三校.indd 97 2015.1.4 12:31:22 PM P01-96-BAGC3-R5.indd 38 15-3-5 下午10:36 Yüklə 19,38 Mb. Dostları ilə paylaş:
|