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Politics : Foreign Affairs Discussion Group

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To: LindyBill who wrote (59187)	11/27/2002 5:42:47 PM
From: Elsewhere	Read Replies (1) of 281500

I am surprised that the EU is in so much economic trouble so soon. Those Bureaucrats in Brussels, combined with the general Socialism of Europe, is really causing a mess, IMO. One has to look at each country individually. Some EU members are doing ok or even well, others not. Germany, the biggest EU economy, is definitely a drag. The problem is that for decades the government hasn't had much economic expertise. Kohl got into history books with the reunification but he avoided to tackle the necessary structural reforms when Mrs. Thatcher did her work across the channel. (See "What Germany Needs: Frau Thatcher" in the latest Barron's picking up that theme. online.wsj.com ) Schröder continued the bad track record. In the midst of stagnation his government is currently planning to increase taxes - the choking fiscal situation is killing tens of thousands of companies every year. There's only one party with a healthy economic program, the FDP, but it was troubled by the Möllemann affair this year and rarely manages to obtain more than 10% of votes. It remains to be seen if reason has a chance. If we'll get an Iraq war with $80/barrel then... well, let's hope for the best.

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