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World: Politicians Pledge To Act, But Can They?

ByThe National Bank of Canada
Published 06/20/2012, 08:19 AM
Updated 05/14/2017, 06:45 AM

The European Council president said that he was confident that the newly elected Greek government will stick to the terms of the bailout agreed earlier. EU leaders also seem optimistic about the meeting at the end of this month (June 28-29) in Brussels to discuss further integration between members of the monetary union. We remain sceptical. In our view, it is one thing for technocrats to provide solutions and another for politicians to implement them. In the current environment, the capacity of governments to quickly adapt is a key asset. Unfortunately, it is not very encouraging to see that the larger economies on which the world depends are not very nimble at adapting their policies to new economic realities. As today’s Hot Chart shows, Ireland is the most adaptable country of the eurozone (ranked 13 out of 59 countries). According to the IMD World Competitiveness Center, all of the larger countries of the zone are much lower on the list with Germany at 25, Italy at 40 and France coming in at 47.
World Politicianspledgeto act, but canthey

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