Showing posts with label green economy. Show all posts
Showing posts with label green economy. Show all posts

Thursday, 2 December 2010

Experts warn Irish crisis could have knock-on effect on the rest of the eurozone.


 As the Irish government unveiled their four-year plan to save 15bn euros, financial experts have voiced their fears that the problems will spread across the rest of Europe and will be detrimental to the future of the euro altogether.

While it may not mean the death of the euro as a whole, Lionel Barber, editor of the Financial Times said a “change in the structure and make-up of the eurozone may be necessary to ensure its survival.”

The euro has fallen by 1.9% against the dollar to less than $1.34 leaving investors fearing that other European countries may seek financial help in the near future.

Mr Barber added: “We are not seeing the death of the single currency; there are a lot more cards to play. What we may be seeing if the beginning of a change in the eurozone, so in other words the euro may survive but the eurozone in its present form, with its present membership, may not.”

Klaus Regling of the European Financial Stability Facility has rejected claims of a failure in the eurozone, branding it “inconceivable”.

Mr Regling said any countries giving up the euro would only face “economic suicide.”

Tuesday, 26 October 2010

Are UK companies missing out on the Wind Energy gold rush?

“I want us to be a world leader in offshore wind energy,” said David Cameron as his government estimates that 70,000 jobs will be created in this sector and announces support to the tune of hundreds of millions of pounds. The problem is - UK companies appear to be missing out of what promises to be something of a "gold rush" in the market.
Of the 120 UK registered Wind Energy companies involved in the market:
  • 64 are in trouble
  • 78 are vulnerable to takeover
  • A third are making a loss
Are these companies being squeezed out of the market by larger foreign competitors enticed here by generous government subsidies and grants or are native companies in this market just not dynamic enough to compete? This week Skycon, a Swedish based manufacturer failed with the loss of 120 jobs in Kintyre - all after receiving a £10m cash from the Scottish Assembly.

With the UK economy so desperate for growth sectors and job creation is the government better using tax payers money to entice big foreign companies to the UK market or use development grants to give UK companies a chance to compete?

Click here for more information about Plimsoll's latest assessment of UK Wind Energy companies