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Eurozone Crisis: Reasons To Be Cheerful

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With the continuing calamity of the 2007 financial crisis and its seemingly endless, macabre march across Europe and the U.S., one could be forgiven for being a doomsayer. After all, the press and its fodder of politicians and analysts do what they do: sell papers (or online subscriptions) and try to get votes. In short, bad news always sells. So, what is there to be hopeful about – with Greece, Ireland, Portugal and now the UK, up against the wall? Some business top dogs believe there is quite a lot, actually.

One of those aforementioned business oracles is none other than Warren Buffett, who has been vocal in the past year with his reasons-to-be-cheerful outlook, and one can safely assume that it’s not because the old titan is hoarding bullion. To paraphrase the Midwest legend: ‘When the going gets tough, the tough invest.’ And so he has, finding opportunities to put the negativity of the press behind him and buy into everything from computers to cosmetics. This has been happening concurrently with dreary news and dire warnings from the International Monetary Fund, Obama’s treasurer, and a menagerie of players from global financial institutions, national leaders and anyone who will listen. But, Buffett seems to be echoing the old adage of ‘when one door closes, another opens.’ The current situation isn’t pretty, but that is when creativity and resilience come into play.

[fusion_builder_container hundred_percent=”yes” overflow=”visible”][fusion_builder_row][fusion_builder_column type=”1_1″ background_position=”left top” background_color=”” border_size=”” border_color=”” border_style=”solid” spacing=”yes” background_image=”” background_repeat=”no-repeat” padding=”” margin_top=”0px” margin_bottom=”0px” class=”” id=”” animation_type=”” animation_speed=”0.3″ animation_direction=”left” hide_on_mobile=”no” center_content=”no” min_height=”none”] “Since the whole world is in the same boat, no government has an interest in seeing the euro fail because if it does, growth in the U.S. and in Asia will be stifled.”

Those last two adjectives can also be readily applied to another business icon, Lars Windhorst. Germany’s former ‘wunderkind’ was a business leader at the age of sixteen, having established a successful computer company in his father’s garage and then taking the company to global prominence. He’s in his mid-thirties now and has had a string of successes, as well as hard knocks (including a near-death plane crash and bankruptcies), giving him the kind of world wisdom those in Harvard business school can only dream of. Like Buffett, Windhorst believes the current eurozone crisis is surmountable and survivable. Being interviewed recently, he sensibly acknowledged that, “Since the whole world is in the same boat, no government has an interest in seeing the euro fail because if it does, growth in the U.S. and in Asia will be stifled.” True words, but why can’t we hear them from the press or the politicians? As other economic analysts have noted, this is not just a spending problem, but rather the fall-out and consequence of poor policymaking and management.

Windhorst has had time to formulate his economic opinions by being a talented investor and entrepreneur in the last fifteen years, and seems to see the eurozone crisis as cyclical, “As regular investments, transactions and operations will continue, I do not see any reason for panic. As always, there will be people earning money as well as people losing money, which will trigger customary price adjustments. This is the normal cycle that we are accustomed to.” Windhorst has been at the top, lost it all, and regained his position back at the head of the table – talent, perseverance and fortitude are part of the recipe for his continued success. Those are also three words that Europe and the U.S. need to repeat, mantra-like, in the upcoming months in order to move beyond the current state of affairs. Optimism isn’t an illusion, but rather a necessary component and outlook for any business or nation to cultivate if they ever hope to achieve their aims.[/fusion_builder_column][/fusion_builder_row][/fusion_builder_container]

 
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William R. Feins , freelance journalist from London, UK; he received his B.A. degree in Economics and his Masters in Sociology. William has always been interested in the mechanics of business and the inspiration of original thinkers, and firmly believes that the former can’t succeed without the latter. In his spare time, he enjoys the ridiculous spectacle of watching table tennis on a big screen (preferably at a pub) and reading weighty tomes about World War II.

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