European rift

As the "East Road continents", Davos of each year will have several major European dignitaries the various royal prince and princess cheer. Some of them votes, some publicity for the country's image, some to negotiate Merchants.

At the annual meeting of the World Economic Forum in Davos last year, and talked about Europe, that is, one can do nothing. A year later, almost everyone in the fortunate: the euro is still! The joy of this kind of relief, like escaped the end of the world "is so heart luck, more hopeful for the future of Europe.

CEIBS Associate Dean - John Quelch (Quelch, John A.) Professor the Sina Finance enumerating the last year, several major European hero, for example, European Central Bank President Mario Draghi, IMF Managing Director Lagarde German Chancellor Angela Merkel and Italian Prime Minister Mario - Monty (Mario Monti). In Quelch, above several have formed the "international team" to rescue the euro, not only last year completed a remarkable task, some getting better means.

This year, several of the hero, the "spoiler" British Prime Minister David Cameron this scene. And as usual, everyone who anyone is not of one mind.

In the EU, the United Kingdom has always been a "bad boy", although the results are still useful, but often smaller share some candy spoiled playing splashed. This year, Cameron is officially down the gauntlet to the EU from London hurried to Davos, the people not to give Europe a large negative. His EU referendum ', within five years, the British will whether from the EU official vote. Market that such events is unlikely, even if only a gesture, enough that the European continent, as well as Americans headache. Nowadays the EU, the euro area account is not settled, but also for taking the time to respond to the threat of an important economic and financial center of the departed.

Cameron before leaving for Davos once the British have done so some vindicated: we have the basic characteristics of an island that is independent, straightforward and passionate defense of the sovereignty.

German Chancellor Angela Merkel continent temperament is very obvious and island characteristics "Cameron, she often played, jumping on Europe, rather than Germany. Merkel's played every year to look forward to, does not seem to her, there is no artificial European target strategy set the tone. She is not Lagarde, in the description of the problem in Europe, can not be evasive.

Merkel in Davos last year, has been stressed that lessons learned from the economic crisis in Europe, because the time of the euro zone at risk, "the economic crisis has left Europe with scars, still can not be eliminated. She stressed: European countries to economic growth and structural reforms to grasp with both hands. The reform is a prerequisite for growth. Compared with last year's heavy Merkel obvious relax a lot, so her keynote speech at the Davos did not like last year, a rallying call for European unity cheer. Instead, her speech gave some Germans that "not enough passion.

Merkel's speech keynote this year: All in all, there is no reform, no growth, not competitive. And last year, said no big changes. In her statement last year, she was actively looking forward to carry out reform in those countries, such as Spain, Italy and Greece, and some have not yet started to do, and some do not go far enough.

Merkel's remarks was echoed objections.

Ireland there are scholars from the real estate bubble burst in 2008, Ireland after beginning to take a proactive fiscal expenditure reduction policies, this year is likely to return to market financing channels. So to get the final results, adhere very important.

The depths of the debt crisis of the Italian people for this issue of the reform is always some reluctance, or that their reform is conditional, for example, the euro bonds. This is Merkel resolutely not agree.

The Monty regarded with the Davos Annual Meeting of opportunity to lay the groundwork for themselves in the upper House Election in February. So, reading between the lines Passes a "campaign" of gunpowder and incendiary. He thanked the Italian support for his work in the past 14 months, in addition to, intentionally or unintentionally, "without naming names," stressed the former Berlusconi Italian economy almost limited collapse; another "without naming prick the Merkel , made it clear that the only fiscal spending policy is not enough to solve the debt crisis, but many Nordic countries do not understand.

Monti called for the market to believe that the single currency of the euro; also appealed to the United Kingdom not to leave the EU, very some European Big Brother style, can not be the German gesticulating.

"In the past many years, Italy are living in an illusion, that we are committed to change, but it will not do any substantive reform." Monti said.

Monti rescue Italy at the edge of the cliff, which is an undisputed fact, but he has announced his resignation, which appears in Quelch "because telling the truth, so the the Italian bombers go."

"Italy is a typical country poor and rich people, and national private wealth is one of the best in the world and in this country there are some famous brand, the fairly ideal company of their own industry, and some operators Italy Business mode with slight modifications, could revive the obnoxious little difficult but rather Spain, only 9% of this country's industrial proportion of GDP, to revive the competitiveness of some difficulty. "Roland Berger Strategy Consultants Global CEO Wittig ( Martin Wittig) on Reuters analysis says.

With Monty or Angela Merkel and Cameron, former French Finance Minister Christine Lagarde neither with the campaign, more reluctant to pull the euro zone's war of words, she would prefer to say some of the economy is expected this year, Asia the importance of short-term economic analysis even skip, jump directly to 2025.

In fact, the problem is more complex in France. Sarkozy made frequent appearances in previous years and often have different amazing speech this year, France's new president took office on the much-debated Hollande did not even attend. But could see the French heavy sense of crisis, the French finance minister, the man combat had to use every opportunity to voice. Today, France has not too much mind to talk about the "European" problem, because 75% of heavy taxes on the French rich still continue to lose, this mess has not yet packed.