Financial reward is the mechanism that creates work in the free market. By taking the incentive for working and developing new skills away, it undermines the fundamental functioning of the free market.
According to new data published by the Office for National Statistics in the United Kingdom National Accounts The Blue Book, 2011, history has changed from their own previous publications.
Many of the risks in the year ahead could be the result of what might be characterised as drift. A lack of leadership and political will that leaves nations and regions without a clear strategy to solve serious long-term challenges. And in the sense of drifting apart through a divergence of interests over time.
David Cameron got an apparent boost for the 'cake and eat it' approach to Europe last week, when finance ministers of the European Union (EU) agreed on the terms of an embryonic Eurozone Banking Union.
When the technocratic government led by Prime Minister Mario Monti took over from Silvio Berlusconi's discredited right-of-centre administration in November 2011, Italy was on the brink of economic and financial collapse.
Recent news from Spain suggests that the reality could be even worse - that aid to education could be sliding backwards. This news could not come at a worse time.
Wealth is a topic of much debate. Some people want to know how to become wealthy and some think it should not exist at all. I think there is an assumption that wealth is uniform in nature. I personally do not agree with that view. I classify the divisions of wealth into two categories, progressive wealth and oppressive wealth.
The IMF has reached an agreement to reduce Greece's public debt to below 110% of GDP by 2022 and to ensure its repayment. The compromise avoids the need for a haircut on Greek debt held by eurozone governments in the short term. However, the deal, if implemented successfully, exhausts most options available to reduce Greek debt other than an outright write-down of Greek government debt.
I want to make contact with all the unsung heroes throughout the global diaspora who are already doing their bit; most importantly though, I want to help bring out of the woodwork all the Greeks living in the UK who, like me, fear for their families and the future of their country.
The consensus is that the BOE have got the best man available for the job, and it's hard to disagree.
Regardless of your position on the EU, we should be wary about taking poll statistics too seriously. The turmoil engulfing the eurozone, the politial transformations taking place and the battles between so many different interest groups mean opinions will change on a day to day basis.
A teetering world economy. An economic crises for which solutions remain unknown. The leader of the free market world potentially having a gridlocked political system. I think there's only one thing that can be said here: good luck Mr. Obama.
The region is determined to be recognised, and treated, as a nation. Sadly, Catalans appear incapable of shouldering the bill that comes attached to it.
Conservative eurosceptics and Labour tacticians should beware. British hostility to the European Union is not as simple or complete as some of them think.
Austerity alone is not the answer. We need to show that we are responding the demands of Europe's citizens to find a better way out of our common crisis.
French business leaders have taken heart from the fact that a long-awaited report on competitiveness will not be quietly buried.