Last Tuesday the German Chancellor, Angela Merkel, declared that its government will be closing down all the nuclear plants producing electricity, located in Germany.
The target date for the completion of this process is 2022. Her predecessor Gerhard Schroeder, had already taken such a decision, which was changed during Angela Merkel’s first term as Chancellor. On Tuesday Ms Merkel reversed her own decision. It is also worth noting that Germany will be investing more in alternative energy sources, especially renewable energy, and it is the German’s government intention that its country will become the leader in this field.
In Italy the situation is different. The Berlusconi government had decided to start a programme of building a number of nuclear energy plants, through an act of Parliament.
In ten days’ time the Italians shall be voting in a referendum as to whether they want this act repealed or not. On the basis of the vote for local government held last weekend, if enough people go to vote (Italian legislation requires the vote of 50 per cent plus one for a referendum to be binding), the odds are that the referendum will turn out a yes vote, that is in favour of repealing the law, and so the programme to build nuclear energy plants will be stopped.
If this really does happen, Italy, like Germany, will have to invest heavily in alternative sources of energy.
Another event this week was a social one which passed unnoticed and which was organised by id-Dar tal-Providenza to mark the European Year of the Volunteer.
The event was held at the Limestone Heritage in Siġġiewi and this gave the opportunity to those present to understand better the development of the skills of the stone mason and of the quarrying and construction sector from the time of prehistory.
The exhibition helps one to appreciate how the people who lived in Malta over the last 6,000 years have made use of the country’s only inanimate natural resource.
A fourth consideration is a point made by Quadro Curzi (professor and an eminent Italian economist) at the end of the annual convention organised by the Centesimus Annus Pro Pontifice Foundation in Rome last May. The title of that convention was Development Progress and the Common Good and it addressed a number of economic issues from an ethical perspective.
The professor claimed that it was correct for governments to invest money to stimulate economic activity, however, the common good requires that this investment should be made in projects that protect the environment.
I would like to refer as well to the speech made by Mario Draghi, the president designate of the European Central Bank and the outgoing president of the Central Bank of Italy. In his last speech in this latter role, he analysed the performance of Italian economy and the challenges it faces.
He asked the question as to what sort of legacy do the Italians wish to leave to future generations. And this brings together four occurrences that are seemingly unrelated to each other. I could add to these the debate on climate change and other aspects.
In the name of economic, social and political progress we have allowed ourselves to believe that our natural resources are not finite, which has led to us undervaluing them. This has led us to be wasteful, to take these resources for granted, and to believe that they cannot contribute much to quality of life. Students of economic are often asked the question whether air is really free.
It may be free today but may not remain so for much longer. This is leading many to start looking again at how we can value better use our resources and how we can put them to better use.
Some have already asked whether lifestyles currently prevalent in the western world are sustainable. They seem to be achieving consensus around them.
The current model for economic development is being questioned. Great social disparities, the harm that has been caused to the environment in the last few decades, and high levels of unemployment require a change of this model. Some economists are asking whether there should be a re-launching of the primary sector of the economy and give it a wider scope.
To have a sustainable global economy in the future, should we go back to basics?