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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: maceng2 who wrote (204473)11/13/2002 2:20:40 PM
From: Haim R. Branisteanu  Read Replies (1) of 436258
 
PB, what I wrote if it was understood, ...... is ........... that the EZ has a much more cumbersome corporate culture which puts a drag on their recovery. Therefore if EZ will loosen up and match the US corporate culture the upside potential is much bigger in the EZ, than in the US, but then again the chances are slim that the European will abandon their social benefits and have more flexible labor laws.

As such on theory the EZ has more upside potential IF and that is a big IF.

As it is now it is status quo - high trade deficit v. high/ costly social benefits. One must give on each side and the question is which side will be first.

Debt is at high levels on both sides
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