It’s quite clear the EU MEPs are spending the last 24 hours attacking and protecting their jobs by defending the indefensible. The EU is suffering from very poor growth and weak GDP performance. Economic data show that growth across the EU remains very modest at best and much weaker than in past decades and far behind the U.S.. At the same time, the EU has become increasingly dependent on foreign (notably the U.S.) capital and investments. It’s imposing strict and crippling regulations on agriculture and other sectors, disjointed industrial policies across member states and bureaucratic boloxolgy. Finally, there are widespread concerns about corruption, cronyism or “jobs for the boys and girls,” and inefficient governance which have eroded public trust, It’s a basket case waiting to implode.

Posted by Fred Bassett