Christmas spending: Who can afford not to cut?

Vice-President of the European Commission  M. Šefčovič, responsible for Consumer Policy, opened the Christmas Bazar - traditional event organised for more than 30 years by Association "Femmes d´Europe". The Association, with about 1000 members mainly from EU member states, raises funds to finance small-scale humanitarian projects, particularly directed towards education, training and health for women and children living in poverty and social exclusion.

Vice-President of the European Commission M. Šefčovič, responsible for Consumer Policy,
opened the Christmas Bazar – traditional event organised for more than 30 years by Association “Femmes d´Europe”.

European Union consumers will be very careful with their Christmas gifts shopping lists this year, says an in-depth analysis of Wall Steer Journal’s Europe Edition, based mainly on data from a relevant survey of Deloitte LLP. With unemployment reaching unheard before levels above 25% in Greece and Spain and skyrocketing in other weak EU economies, the ranging free economic crisis leaves only the German consumers untouched this Christmas season.

Unfortunately, consumer spending cuts, through the multiplier effect, later on in the New Year will heat back consumers themselves, this time as workers or job seekers. Consumption is by the far the powerhouse of economic growth and cuts in it are more than certain, to have negative effects of overall production and incomes.

However consumers do not have other alternative, than cutting their spending, to counter the threats on their income and job prospects. That is why they become even more careful, when it comes to spending on gifts. Lower consumption however leads to lower investments. Very simply because the business sector is obliged to also cut back expansion projects or even trim down regular up keeping of existing capacities.

In this way a vicious cycle is triggered, forcing consumers and businessmen to continue cut down their spending. As if all that was not enough, governments all over the European Union are drastically reducing the expenditure side of their budgets, while at the same time they are increasing taxes. This mix of economic policies has already sent the entire EU economy to recession, with production and incomes dropping fast in many weak economies, leaving intact only Germany. However if the same patent of economic behaviour continues, Germany will also feel the heat, because its wellbeing hinges mainly on exports.

For details see WSJ on Christmas consumer spending:   http://online.wsj.com/article/SB10001424127887324712504578137093459350874.html

the sting Milestones

Featured Stings

Can we feed everyone without unleashing disaster? Read on

These campaigners want to give a quarter of the UK back to nature

How to build a more resilient and inclusive global system

Stopping antimicrobial resistance would cost just USD 2 per person a year

25 years after population conference, women still face challenges to ‘well-being and human rights’, says UN chief

South Sudan: ‘Outraged’ UN experts say ongoing widespread human rights violations may amount to war crimes

This is the most sustainable way to use fashion – and it’s not renting clothes

The first new university in the UK for 40 years is taking a very different approach to education

EU to manage external borders against the will of member states; Greece to be the first target

US announcement on breaking ties with the World Health Organisation: Statement by the President of the Commission Ursula von der Leyen and High Representative/ Vice-President Josep Borrell

Can we balance conservation and development? Science says yes

Urgent action needed to address growing opioid crisis

UN ‘financial crisis,’ years in the making, Guterres tells budget body, proposes solutions

The Great Reset needs great leaders to help the most vulnerable

UN Envoy ‘confident’ deal can be reached to avert further violence around key Yemeni port city

Brands can be a force for good and for growth. Here’s how

European Court rules that ECB’s OMT program of 2012 is OK; not a word from Germany about returning the Greek 2010 courtesy

These are the countries that eat the most meat

How young entrepreneurs should be supported: what assistance should governments provide?

This is how Middle Eastern retailers can keep up with e-commerce

We don’t know how autonomous vehicles will depreciate – and that’s a problem

D-Day for Grexit is today and not Friday; Super Mario is likely to kill the Greek banks still today

To be fair or to be sustainable? That is the (retirement) question

Main results of EU-Japan summit which took place on 25/04/2019 in Brussels

As human caravan moves through Mexico, ‘full respect’ needed for national control of borders: UN chief

Hurdles in the way of vaccinating one and all against COVID-19-reviewing the challenges for vaccination against COVID-19

This challenge is advancing education solutions to help students thrive

Tackle ‘tsunami of hatred’ across the world urges Guterres, to counter anti-Semitism, racism and intolerance

A comprehensive strategy for Eurozone’s long term growth gains momentum

How Finland is fighting fake news – in the classroom

Myanmar and UN agriculture agency agree framework to improve nutrition and food security

‘Think beyond farm jobs’ to reach sustainable development, UN agriculture chief advises African youth

Coronavirus: following Commission’s call, platforms remove millions of misleading ads

Brexit is happening now but the UK hasn’t really assessed the impact of a “no-deal” divorce

Tanzania’s Dual Burden

Election 2019: New, Updated seat projection for new Parliament

State aid: Commission approves German nation-wide scheme to support deployment of Gigabit networks in Germany

The European Parliament x-rays the troika’s doings

UN ‘prioritizing needs’, ramping up aid, as Hurricane Dorian continues to batter the Bahamas

Coronavirus: Commission presents practical guidance on implementing the temporary restriction on non-essential travel to the EU

COP25: ‘Signals of hope’ multiplying in face of global climate crisis, insists UN chief Guterres

European Parliament, Council Presidency and Commission make progress towards a political agreement on new EU rules for attracting highly qualified employees from third countries

4 key trends on how COVID has impacted women in business

Sudan: UN rights chief alarmed over ‘excessive force’, alleged use of live fire against protestors

TTIP’s 11th round starts in Miami but EU-US businesses see no sunny side

DRC ‘calm but tense’ as country awaits presidential election result

Memoirs from a unique trip to China: “my new old dragon” (Part I)

‘No country, no region’ can tackle global challenges alone says UN’s Mohammed

Donor countries set international standard for preventing sexual exploitation, abuse, and harassment in development sector

EU Parliament: The surplus countries must support growth

European Youth calls on European Council for urgent action on “humanitarian crisis” and questions the EU/Turkey deal respect of human rights

Indian cities are running out of water

Every bite of burger boosts harmful greenhouse gases: UN Environment Agency

90% of European Jews say antisemitism is getting worse

‘Being open about my mental health created a better work culture’

Here are five tips to make your message clear in a crowded world

Catalan Pro-Independence vote: how many hits can Brussels sustain at the same time?

Longer hours, more emails and shorter meetings – working from home in the time of COVID

Taxation: Commission refers Poland to Court for failing to remove certain tax exemptions on the use of energy products by highly polluting businesses

EU should set goal to end homelessness by 2030

Powering through the pandemic

5 ways the WTO can make investment easier and boost sustainable development

Sacrifice of fallen ‘blue helmet’ to be honoured with UN’s highest peacekeeping award

Climate change brings a host of other risks for businesses

More Stings?

Speak your Mind Here

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s