Employment Growth Needed in New Markets: Magnus

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Aug. 22 (Bloomberg) -- George Magnus, senior independent economic advisor at UBS, discusses the need for companies to search for employment opportunities in new markets to grow the European Economy. He speaks on Bloomberg Television's "The Pulse."

We are listening to the report on rtl.

It is amazing what they do.

It is a story about a media company buying other assets and consolidation is the name of the game.

You become more international and it is all about globalization.

Yes.

I've been thinking about this.

I hope this is not an overly- dirty response.

I do not know enough about the company to comment.

It is indicative of the kind of company, i think, that, i'm not saying that i know their employment levels are, but, after the lending bust and all that's, the way we are going to get a sustainable expansion is through investing in areas that are very different and we need to prioritize and spend a lot of money.

Part of the story is the inter- spending.

We want companies that are going to grow and, hopefully, media, obviously, is one.

I was around the corner from here, last night, and there were lots of young people in technology and media and advertising.

That is the kind of area -- those are the kinds of people, actually -- who will get along well in the new economy, whatever that is.

The idea of the employment is coming back in and of the growth is coming back, in and of itself, that is incorrect and will not happen.

It will come back, that it will shift into industries that will emerge in new markets and that is what we seek to be doing.

This text has been automatically generated. It may not be 100% accurate.

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