Wednesday, October 17, 2007

Five Myths About Europe

Next time someone preaches of the evils and irrelevancy of "tired old Europe" point them at this article in the Washington Post.

The myths:
1. The sclerotic European economy is incapable of leading the world.

2. Nobody wants to invest in European companies and economies because lack of competitiveness makes them a poor bet.

3. Europe is the land of double-digit unemployment.

4. The European "welfare state" hamstrings businesses and hurts the economy.

5. Europe is likely to be held hostage to its dependence on Russia and the Middle East for most of its energy needs.


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