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sobota, marca 12, 2005

Hey Poland! EU economy 'at least 20 years' behind US

Hey Poland! EU economy 'at least 20 years' behind US

News Poland
This in from EU Observer:

The US economy is 20 years ahead of that of the EU and it will take decades for Europe to catch up, according to an explosive new study published on Friday (11 March).

The survey, unveiled by pan-EU small business organisation Eurochambres, is intended as a sharp "wake-up call" for EU leaders as they gather on 22 March for a summit on how to boost growth and jobs in the EU economy.

The EU's current performance in terms of employment was achieved in the US in 1978 and it will take until 2023 for Europe to catch up, the report shows.

Data clearly suggest that including the 10 new member countries in the comparison would further deteriorate Europe's position compared to the US for all four major indicators, says the report.

For more here

It's not too bright folks -- but the EU should be given credit because even in spite of this report, it still takes the whole project seriously. The EU should be applauded at least for taking a long view on development, integration, and expansion. But I hope it doesn't try to expand much more for the time being.

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