Juan Pablo De Armas’ Post

Worried about the rise of the far-right in Europe, and the possible implications for the social economy? Our columnist Toby Gazeley of Euclid Network (EN) looks at the latest political positioning in the governing institutions of Europe, and wonders whether the Nicolas Schmit-shaped gap can be filled. ➡️ Keep up to date with our latest Brussels Briefing... #SocialEnterprise #SocialEconomy

The recent U.S. election results, with Donald Trump's "America First" approach, and the new U.S. Commerce Secretary singling Ireland out as part of the problem, have intensified conversations about Ireland's economic strategy and heightened the urgency to build a strong indigenous economy that matches the strength of our foreign direct investment (FDI) sector. The closure of NDRC has been deeply disheartening to many in the entrepreneurial community. It is significant not just because of the loss of our flagship startup programmes but because it raises a larger set of questions - Do we have the correct strategy for our innovation economy? Why are we making decisions that appear misaligned with international expert advice and, more importantly, the voices of our own entrepreneurs? If nothing else, I hope this is a catalyst for a wider discussion amongst all stakeholders about the future of our innovation economy. Accelerators alone are not the solution, just part of one. I delve deeper into this issue in my commentary for the Business Post today https://bit.ly/3V76qzX

« France’s low productivity and strained public finances cannot be solved by reversing the pro-business policies of the past decade. Political polarisation cannot be solved by creating a new polarity between “the extremes” and the “republican centre”. The productivity issue demands better education and freedom of entrepreneurship, to allow agility in the working space. The public finances problem demands spending restraint, starting with social expenditure, which amounts to 32 per cent of GDP. The political impasse demands moving away from a single centrist party, as soon as the 2025 budget is approved. France needs a revived centre-left and a revived centre-right if it is to recreate alternatives to the extremes » Laurence Boone Financial Times #france #political

How can Ireland continue to succeed in building a world-class innovation economy? This week I have tried to understand the rationale to why the NDRC will cease in 12 months. Having spent the last few years immersed in the evolution of the start-up ecosystem at home, it has been very apparent that this program has been invaluable to many founding teams across Ireland. I appreciate and respect this perspective from Patrick Walsh and the questions he directly puts forward: --> Do we have the correct strategy for our innovation economy? --> Why are we making decisions that appear misaligned with international expert advice and, more importantly, the voices of our own entrepreneurs? With the elections ahead, and the 'talk' of the program coming under the Department of Enterprise, will the decision be reversed? I truly hope so.

Only a fool can rejoice over the victory of parties leaning towards socialism/communism (not only) in France. Where the socialist-red-green policy has led us can be seen on the economic indices for many years. Only an economic idiot can suggest that wages go up and prices go down, and other stupid suggestions. France is already an economically declining country, now everything will only accelerate. the economically capable will flee and remain idlers who only like to take. https://lnkd.in/eMdrjtdE

As the political jockeying commences and runs full tilt for the next 40 or so days, ideas and policies good and bad will be floated. Interesting to see the first call for more local control of economic direction with locally elected mayors. But will this just increase competition between primarily Edinburgh and Glasgow for funding and inward investment opportunities? And how will other Scottish cities fare? Following the 2020 Logan Report commissioned by Scottish Government Mark Logan was appointed as its Chief Entrepreneurial Advisor. Positively, he has challenged the approach to education, secured funding for development of early stage tech sector organisations, instigated international outreach programmes and set out a pathway for more female controlled companies. And he is a known figurehead to promote Scottish opportunities. Form my work in the research and innovation sector, its apparent: - Scottish Enterprise is doing some sterling work on attracting companies to locate in Scotland. - We have a brilliant further/higher education system that is beginning to really accelerate in terms of company creation and academic/industry partnerships. BUT - There is little in the way of integration between the public, academic and private sectors. - And Scotland's cities/regions are looking at each other as competition rather than areas like the Golden Triangle, and the North West which really are. Is it not time to be less parochial and appoint for a national Innovation Tsar that extends beyond the tech sector? An individual that like Mark Logan can look beyond the limits of the public sector, secure funding and Catapult/specialist research institute facilities, organise Team Scotland to promote its best opportunities on a national and international scale where accommodation availability, supply chains, research and ideas, and talent recruitment/retention count most? As ever, thoughts welcome.

  On a recent train trip across #Europe to celebrate my son’s 18th birthday we stopped in the tiny Principality of #Liechtenstein (pop. 39,327) to take a look. If you’re ever in the neighbourhood it’s well worth a day but hold on to your wallets – the cost of everything is #Switzerland on steroids.   This got me thinking how did Liechtenstein get to where it is today, becoming the second wealthiest country in the world (#GDP per person is $170K which is 4x the UK), enjoying zero unemployment and with an incredible standard of living?   Some might suggest it’s due to their #financialservices prowess (complete with tax scandals involving a bank owned by the monarch), or high-tech #industry (they are world leaders in production of dental equipment including false teeth), however it starts with a shift in monetary union a century back.   Until 1920 Liechtenstein was tied to #Austria’s Krone, however in the aftermath of WW1 this brought major economic instability to the local economy. A bold decision was made to jump ship and form a monetary union with #Switzerland & its Franc, which is of course world-renowned for its stability. This worked brilliantly bringing inflation under control, allowing businesses to flourish and foreign investment to jump.   Whilst the change in monetary union was pivotal, other factors over the decades have been key to increased prosperity. Post WW2 there was a major switch from agriculture to high precision and value-added industry (albeit there are still plenty of vineyards and decent whites as I can attest). At same time stability and privacy became the bedrock of an ever-growing financial services industry, which reached its peak in the early 2000s before many “tax haven” advantages were rolled back under pressure from the #OECD and in particular #Germany.   Today #Liechtenstein remains an economic powerhouse and lovely place to visit, albeit I suggest only briefly due to its small size and extreme cost!

From me in the Herald: Is it time for Scotland to embrace local devolution? "The Scottish Labour Party made the degree of devolution within Scotland an issue during the General Election campaign, pledging to “… push power out of Holyrood and into the regions of Scotland to empower communities and better support regional economic growth … [and] allow for the creation of regional mayors”. The idea of further devolution within Scotland is not new, nor is it an idea belonging to the Scottish Labour Party, or an issue of uniquely Scottish concern. But it is one that Scotland has yet to embrace despite having the powers to do so. Given the challenges that local economies across Scotland face, perhaps it is worth at least considering whether greater local autonomy and devolution could be part of the solution... Perhaps it is an idea whose time has finally come. Or, perhaps, like many difficult issues requiring our politicians to take on entrenched interests, it provides a better perennial campaign pledge than it does project to deliver."

🇪🇺 🗳 During these European elections, there hasn't been much debate about the single market (in Estonia). 👂 In recent weeks, I've discussed with dozens of entrepreneurs (both startups and more mature sectors) what they want from the single market. I've outlined the key areas of single market reforms where Estonia has the most to gain. More details can be found in the linked article. 1. 💰 **Capital and Investments**: Let's put the €33 trillion sitting in Europe's savings and pension accounts to work to revive the European economy. 2. 💡 **Single Market Reforms and a More Innovation-Friendly Regulatory Environment**. 3. 🎓 **Talent**: Making the free movement of people truly effective. 4. ⚔ **Security**: Strategic investments in self-sufficiency and securing supply chains, plus a defense fund. https://lnkd.in/dt-Ti2Ki

🟢 On 6-9 June 2024, more than 400 million Europeans will be able to elect a new European Parliament. Five years after the European Green Deal was launched and in the midst of multiple crises, the economic strength and security of Europe are at stake. What lies ahead for the German and European economy? Phillip Käding discusses this with Sandra Parthie & Roderick Kefferpütz ➡ https://lnkd.in/dUDdb8Vq #EP2024 #EUGreenDeal Heinrich-Böll-Stiftung German Economic Institute