Wednesday, June 15, 2005

EU - Forgetting That It's All About The Money

The EU is doomed. Let me say it again: doomed. Charles Johnson over at Little Green Footballs has this to say about a declining incentive on the part of U.S. investors to put their money across the Atlantic. And Robert J. Samuelson of the Washington Post added this assessment.

Put simply, a Europe that is not business friendly will be a Europe that does not receive much interest from U.S. investors. But the social welfare system of France and Germany which rewards unemployment and yes, laziness, does not reward investment. There are more dynamic markets available to investors than ones where the government is more interested in coddling the indolent. Business competition, but especially evolution is the thing that gets the attention of prospective investors.

And Europe probably cannot do well for long without sustained U.S. investment.

It's entirely up to them, but the economic giant which the EU was boasted to be, seems to have developed into little more than a disappointing boondoggle between socialist countries who desperately want to retain anti-market welfare states while at the same time enjoying an economy that attracts investment.

Note to Schroeder and Chirac: socialism failed.

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