17 October 2013

The crisis – an opportunity not to be wasted

Times of Malta 10/10/2013: The crisis started over five years ago and the end is still uncertain. The fifth anniversary of the collapse of Lehman Brothers is just behind us, but the word “crisis” is still making headlines all over the world. The crisis is bringing down governments and stifling economies. In some parts of Europe, the crisis is blamed for ruining the lives of young people who cannot find jobs because of alarming unemployment rates. It is a nightmare for many European entrepreneurs, who are struggling to return to pre-crisis income levels and contributions to growth.
Most of the eurozone countries could envy Malta its performance. With an unemployment rate that does not exceed half the eurozone average and stable growth projected for 2014, Malta has received positive ratings both from the European Commission and the International Monetary Fund. That is one reason why we have chosen Malta as a place to discuss what lessons can be learnt from the crisis.
The economic downturn constantly challenges firms with falling turnovers and orders. The only way to survive in a harsh economic environment is to react flexibly to market demands and to maximise competitiveness. If you see the crisis as an opportunity, transformation can be achieved through innovation and investment in research and...read on.