Eurozone crisis dominates debates at Davos

Eurozone crisis dominates debates at Davos
By Isabelle Kumar

The shrieks and cries, the swish and swirl of winter sports are the normal sounds which echo across the mountains which surround Davos. Now it is the anguished debate on how to tackle the eurozone debt crisis which is resonating through the ski resort.

It is the top of the political and business leaders agenda at this World Economic Forum in Davos. Solutions, growth, belief and the legacy for future generations are in the mix.

“We have to have austerity measures, we have to cut back this rocketing budget deficits, because it is not only a problem for this generation it is a load on the next generation. And we have to do that also by showing to the people that there is light in the tunnel, that there is a hope, that there is a way out. And the biggest wealth Europeans have is this huge market of 500 million potential consumers,” said Viviane Reding, European Commission Vice President.

The Great Tansformation – Shaping new models is the banner text for this year. Perhaps the words of Jean Monnet would be more appropriate. The Frenchman, considered one of the founding fathers of European unity once predicted, “Europe will be forged in crises, and will be the sum of the solutions adopted for those crises.”

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