Tourism is not Luxembourg’s main industry. The Duchy is much more renown for its tax haven status than for the busloads of over-nighters visiting its quaint capital and tourism remains low on the priority list for the nation (not that no investment is being made there either). Malta’s politicians, on the other hand, are obliged to give particular attention to the industry that is the bread and butter for so many. Any measure that improves conditions for tourism is surely welcome in Malta.
So it was to my surprise that I was reminded once again of a practice that is peculiar to the construction industry in Luxembourg in the middle of summer (well I say summer but we did wake up to 12 degrees again). The construction industry in the Duchy grinds to a halt on the 31st July and will not resume before the 22nd of August. This happens thanks to a collective leave agreement that applies to 1,452 companies (21 202 employees). Only the most essential of works (renovations in schools for example) remain open during this three week moratorium imposed on construction.
Now imagine that the same happened in Malta. It’s a dream of course. The mighty Malta Developers Association and its chief lobbyist Chetcuti are bound to throw a massive fit claiming that this was an attempt to choke a much needed “industry” on the island. Surely in an island that is desperately in need of 40 storey towers in the middle of Sliema we cannot afford to take a pause and breathe.
Yep, we might as well build ourselves to oblivion.
Right now is the time of that gap in the time-space continuum when the General Box labelled “Summer” starts to shut slowly taking with it the smells of the sea, the sweaty brow of the aestival traveller and the dizzy dreams of dolcefarniente. At the same moment the musty smells of the humid “Autumn” box start to drift into the atmosphere – spreading like a cold virus at the break of September. It’s a general feeling of stasis before the momentum returns of “work as usual”.
The Times (UK) economic commentator Anatole Kaletsky had a great article referring to the seasonal changes in Wednesday’s edition (Take cover: A financial hurricane is blowing in – *paid subscription required). Kaletsky highlighted the fact that in moments of great financial depression, the worst period to look out for is the end of August – beginning of September period:
Almost all the great financial crises of history have occurred between late August and mid October: the Wall Street crash in September and October 1929, the collapse of the prewar gold standard in September 1931, the sterling devaluation of September 1949, the collapse of the postwar Bretton Woods currency system in August 1971, the Mexican default in August 1982, which triggered the Third World debt crisis, the stockmarket crash on Black Monday in October 1987, the break-up of the European exchange rate mechanism on Black Wednesday in September 1992, the Russian default in August 1998, the Lehman bankruptcy in September 2008 — the list goes on.
Kaletsky plugs into the general feeling of doom and gloom that your average news follower might be experiencing at this moment in history. You know that feeling don’t you – Death’s scythe all over the place, the misery of war, famine and pestilence coupled with stories of natural hurricanes and financial earthquakes. For heaven’s sake, I was reading the same issue of the Times yesterday and I had in mind to do some more honeymoon travel research after that. Sure enough, two (two I say) articles about honeymoons where disaster struck – sharing the same page. A man eaten by a shark and another couple run over by a car. And this was the Times mind you, not the Daily Mail.
Doom and gloom or not, September has come rushing in closing what has been for the North of Europe the coldest summer in living memory. We might still be in time to witness the collapse of an economic system or at least feel the full brunt of the economic crisis. We might still witness more death and disaster before the month turns into October and drags to All Hallows Eve. September might be the time to appreciate the little moments of calm. Just like the lady I caught lounging on the grass on the bus stop behind the EIB (European Investment Bank).
The flags fluttering in the late summer breeze, the sun bearing down in a warmish afternoon and the relaxed fonctionnaire lapping up (or should I say stealing) the last of the summer rays. Forget the hurricanes for another day. It’s time for the galactic lunchbreak.
Carpe diem.
[learn_more caption=”photography”] Photo shot using Hipstamatic app on an iPhone 5. lens: Libatique 73 film: Cano Cafenol place: Kirchberg, Luxembourg (BEI Bus stop) date: 01.09.11 around lunchtime.[/learn_more]
