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Financial bubble vs. real economy

Č SSD International Workshop Raising of Employment: Challenge and Task for Future Prosperity Prague, 5th May 2010 Poul Nyrup Rasmussen President Party of European Socialists Co-Chair Global Progressive Forum Former Prime Minister of Denmark. Financial bubble vs. real economy.

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Financial bubble vs. real economy

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  1. ČSSD International WorkshopRaising of Employment: Challenge and Task for Future ProsperityPrague,5th May 2010Poul Nyrup RasmussenPresident Party of European SocialistsCo-Chair Global Progressive ForumFormer Prime Minister of Denmark

  2. Financial bubble vs. real economy Financial Market Greed Greenspan Real people Real jobs Real economy Real life People first

  3. Unemployment on the rise 7 million new unemployed due to the crises

  4. “Exit strategy” only? Conservative plan to march Europe’s Jobs out of the door 4.5 Million Jobs

  5. Progressive versus conservative strategy

  6. The Way out?Our Alternative10 million jobs to gain • Entry, not exit strategy • EU2020 • New financial ressources • Coordinated investments • Smart green growth

  7. Dynamic labour markets L O S T J O B N E W J O B * Shortest distance because of ALMP * Minimize risk for loss of income * Maximise ‘upqualification’ / new competences * Rights and obligations * Social partners’ responsibility

  8. Lifelong Learning • Develop education programs for vulenrable workers • Part time early retirement combined with mentoring new employees • foster closer links between employment services, educational institutions and social partners

  9. Clear communication Rights and obligations No “necessity” - but new opportunities A comprehensive package for the “whole story” Consensus not confrontation Concrete results within two years Healthy/green growth as a precondition Progressive Principles for Reform Don’t forget the social partners

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