Monday, October 18, 2004

EU: EU is now losing ground to America and Asia in terms of competitiveness and its society is reaching a breaking point, other than that everything is fine. "What is at risk ... is nothing less than the sustainability of the society Europe has built and to that extent, the viability of its civilisation", says the paper, drawn up by 13 experts led by former Dutch Prime Minister Wim Kok. The working population will be unable to sustain "Europe's growing army of pensioners", economic growth will "stagnate" and institutions face "contraction and decline"."In sum, Europe has lost ground to both the US and Asia; its societies are under strain; and some ugly political forces are beginning to manifest themselves", is the gloomy conclusion of the 37 page draft.

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