Word: lippe
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Dates: during 2000-2009
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...Ernst-Moritz Lipp, managing partner of Odewald & Compagnie, a German private-equity manager, all this talk about WWGD (What will Greenspan do?) was of little immediate consequence. "None of that discussion really plays a role here in Europe," he said, "which shows that Europe has really decoupled from the U.S." Lipp predicted that 2001 will be the year "Europe replaces the U.S. as the engine of growth." He forecast the European economy would grow at a healthy 3.5% annual rate, or just about last year's level...
...thing, more Europeans are getting to work. Whereas jobs in the U.S. are beginning to grow scarcer, Europe, long plagued by chronic unemployment, is still adding to its employment rolls. This should boost consumption, and what's more, Lipp argued, the effect will be relatively long-lasting. Said Lipp: "Once employment starts to pick up, it's not a cyclical phenomenon." Longer term, huge corporate and individual tax cuts in the works in Germany and France should also boost consumption...
...real driver of European growth will be technology. "Europe in its innovative drive is where the U.S. was three or four years ago," said Lipp. True, the technology stocks on markets like Germany's Neuer Markt and France's Nouveau Marche have been taken down hard recently in the global stock swoon, but Lipp calculates that 75% of these companies still have solid business models. He reported that American executives were also voting with their feet, and sizing up bargain-price European tech firms for acquisitions...
These changes put HLS's LIPP program significantly under budget...
...LIPP reform program, Dealy said, is more about "changing the rules of the program," not a result of significantly increased financial generosity on the part...