Tuesday, March 13, 2007

Europe 20+ Years Behind US

This, I guarantee, you won't see in the mainstream media.
EUOBSERVER / BRUSSELS - The EU is 22 years behind the US on economic growth according to a new study, with several other economic indicators showing further gaps despite Europe's ambitious reform agenda to be praised by leaders at this week's summit.

A report by Eurochambers, the Brussels-based business lobby, published on Monday (5 March) argues that the US reached the current EU rate of GDP per capita in 1985 and its levels in employment and research investment almost 30 years ago.
Europe is not simply trailing, the continent is decades behind. It's estimated that even if the EU outperformed the United States by one percentage point yearly, the U.S. at 2 percent growth and the EU at 3 percent growth, it would take almost 40 years just to achieve parity.

Heh.

Tip: Dissecting Leftism

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