Wednesday, December 15, 2004

EU: EU President Barroso rises the warning flag that the socialist model is in trouble and needs fixing badly. ""Without growth, without job creation, without more dynamism in our economies we cannot maintain the high levels of social insurance, protection and environmental protection which ... we call the European model", Mr Barroso told MEPs on Tuesday (14 December) " If you factor in not only American competition, but Asia and even the new EU countries in Eastern Europe where the labor is much cheaper and taxes much lower. Unless the EU does drastic changes to reform their economy to better compete, they are screwed.

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