Word: wortmann
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...embrace of the center right - with some far-right candidates doing well, too. Socialist and social democratic parties were badly beaten, despite the global economic crisis and misgivings in Europe about unbridled capitalism. "Voters do not want socialism, they want a market system that works," reckoned Corien Wortmann-Kool, who was re-elected for the Dutch center-right CDA party...
...lack of workers' protection are being widely acknowledged and agreed with, voters are turning their backs on those parties that now seem to have been so prophetic. "There is an existential crisis for the socialists. Voters do not want socialism, they want a market system that works," says Corien Wortmann-Kool, who was re-elected for the Dutch center-right CDA party. "But the socialists are still rooted in the 20th century. They have not yet broken away from their ideological tradition of opposing capitalism...
...Germany itself, some strongly disagree. At the German Engineering Federation, an association of about 3,000 German machinery firms, economist Olaf Wortmann acknowledges that there has been "a change of tempo," but he insists that the upward trend is continuing. The Federation tracks the order inflow of its members, and while that number fell 12% in May, it jumped a spectacular 35% in April. "There are always monthly fluctuations," says Wortmann. For the first six months of 2008, the industry is still expecting growth of at least 5%. One heartening factor: the engineering firms' factories continue...
...even at that level, "we do not expect any significant impact on overall growth" in Europe. German machinery companies are currently operating at over 90% of their potential capacity, the highest since 1990, and are thus well able to weather a weaker dollar, says Olaf Wortmann, an economist at the German Engineering Federation...
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