The financial crisis through a German perspective


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The financial crisis through a German perspective- presented in Youth Time Forum, October 2011, Rhodes, Greece

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The financial crisis through a German perspective

  1. 1. YT Dialogue of civilization! WPF – Youth Time The financial crisis in Europe: What I learn from it! WPF – Youth Time The financial crisis Moritz von Bonin Rhodes, 11. October 201127.10.2011 YT - Moritz von Bonin 1
  2. 2. How Germany developed its economy since 1945 YT Dialogue of civilization!A brief historical review 1948 - 1952 − A 13 Billion $ (today’s worth 75 Billion EUR) support of the West European economies by the United States − Act of humanity, combat the spread of communism and create a market for Marshall Plan US products − Impact on Germany: 1,3 Billion $ and the first step of European integration − Until now Germany spend 1,4 Trillion EUR to reconstruct eastern Germany 1990 − Financing of the reunification: Tax increase and additional national debts − Impact until now: 30 Billion EUR on top interest payment p.a. Reunification − Result of the east: Top class schools and universities; innovative industry − Successful strong industrial brands (BMW, Siemens …) 2010 − High quality of green industry (wind, solar, …) − Industrial back bone with strong small and medium-sized businesses Financial Crisis − Low unemployment rates and discipline of state finance 27.10.2011 YT - Moritz von Bonin 2
  3. 3. Why Germany seems to be in a position of comfort YT Dialogue of civilization!Assumption of success − The experience that you have to react flexible in a fast changing world 1 − The perspective to “focus on top quality and never rest, always try to become better” Change − Invest in education and research − Support of innovation and creation of an environment of free thinking − Development of the brand “Made in Germany Made Germany” 2 − Free trading within the EU − Find the way into new markets (e.g. China, Brazil) Market − Understand and react faster then others on long term trends − Policy of unity and not of dividing (e.g. in the EU) 3 − Joint interests and friendship with all former enemies (e.g. Russia, France) − Benefit: No need for boarder protection, low military spending (1.4%* of GDP Peace Germany, 4.7%* USA, 4.0%* in Greece)* World Bank; Year 2009 27.10.2011 YT - Moritz von Bonin 3
  4. 4. The fundament of a successful future will be YT“The dialogue of civilization!” Dialogue of civilization!Key assumptions of future success 1 Development [trends] Exchange [civilization] 2 − Megatrends and how they influence societies − Learn about other perspectives and change values of people − Understand other cultures − Forecasting the future and understand the history − Reflect my own point of view Future Examples: Examples: China Easternization YT Altai Water Internet usage Water needs YT Dialogue of 3 Discussion [current events] Networking [dialogue] 4 civilization! − Analyze incidents that have global − Create a Network of people that are: impact Open minded, willed to look across the own − Discuss root cause, development and effect boarders and share a fundament of values Examples: Examples: Financial crisis in Europe YT Altai Arabic Revolution Facebook Meet and visit each other 27.10.2011 YT - Moritz von Bonin 4