European study says EU economy is 20 years behind that of the US

FinFacts ^ | Mar 6, 2007 | Finfacts Team

[sazerac]

European study says EU economy is 20 years behind that of the US

By Finfacts Team Mar 6, 2007, 15:43

A report published on Monday says that despite the current economic upswing, the EU is still losing ground vis-à-vis its global competitors – in particular with its current level of investment in R&D already achieved by the US almost 30 years ago. Also, the EU is on the wrong path to reach the Lisbon goals, being 3.4 years too late with regard to the target 70% employment rate by 2010. In addition, the level of productivity (expressed in GDP per employed) was reached by the US in 1989, the report said.

[100-Fold_Return]

No-brainer: CUT TAXES!!! Next?

[AlaskaErik]

Only 20 years? A bit optomistic I think.

[Domicile of Doom]

I don't even see why studies are done anymore. In a few minutes there will be another study done to rebuke this one.

[KarlInOhio]

President Hillary will give them plenty of time to catch up. After 8 years of Hillary Sri Lanka might be passing us.

[RKV]

Ditto their culture.

[johnandrhonda]

and in 20 more years, they will be 40 years behind...

[bamahead]

Proof that the brilliant doctrine of Eurosocialism works!

/S

[adorno]

EU economy is 20 years behind that of the US

Now those EUroweenies are going to hate us even more.

I'm sure they would feel a lot better if they were compared to Africa, Asia, or the middle-east. They sure don't want to be compared to the U.S. That would be the ultimate insult to them.

[ryan71]

This like Airbust news. I love it.

I wonder if the 7th century muslims that are invading Europe have anything to do with holding them back?

[D-Chivas]

[jveritas]

Exactly correct. Next is to allow more competitions to reduce prices and of course have much less government interference. If the EU does this then they will have a chance to compete with the US, if they do not, they will be in much worse shape year after year after year.

[Mase]

Twenty-five years ago Reagan was setting into motion the tax cuts that would create the tech boom of the 90's. Meanwhile, across the Atlantic, the Europeans were busy building their nanny states. The result is just what the article says. We created the technology of the future and 20+ million jobs while the EU sank deeper into dependence on the state, unable to create economic growth, jobs or the will to fight their eventual islamification.

[Rummenigge]

...where would you be if you were merged statistically with venezuela and mexico ?

[napscoordinator]

The euro is beating the dollar big time though!!!

[Rummenigge]

we are a conglomerate of old socialistic countries like poland and quite successful traditionaly market oriented countries like england and germany.

There's no way poland spends the same amount of money on research california or germany or norway is using.

Things take a while - but they are definetly improving.