FIVE MILLION UNEMPLOYED - THE HIGHEST PERCENTAGE SINCE THE 1930's (BBC)!
Socialism is just not as effective as a free-market at creating prosperity.
The sooner that Continental Europe gets a "THATCHER" the sooner they become economically vital.
Why the politicos of Old Europe don't risk bold change it is simple: they're all IGNORANT COWARDS and CHEATS! (And sluts... no: only kidding; they're not ALL sluts.)
Look; it's simple: China and India have LEAPT right over Old Europe - in terms of economic growth - because they've Thatcherized/Reaganized their economies.
If Old Europe fails to cut taxes, cut the size of their state and cut protective trade practices they will become poorer and poorer. They're already demogaphically set to become VERY OLD and VERY MUSLIM. In effect, the Old Europe will become like Turkey, the nation most of them fear letting into their voondaful socialist club, zee EU.
I give Old Europe until the next round of elections: Chirac and Schroder are due for elections in the next couple of years. If they're replaced by status quoists then Old Europe is DOOMED, I tell you DOOMED! (And if Blair is relaced by a Labour Leftwinger then the UK will suffer as well.)
What does this mean for the USA? It means - (because it is likely that Old Europe will collapse) - we should pay much more attention to and invest more heavily in India and China. As long as they keep liberalizing their economies and politics - their futures are great, and our involvement/investments with them will return great dividends. Investing in Old Europe is more like throwing away good money after bad. MORE HERE.