Tuesday, May 04, 2004

Economics and the EU

All the press said was that the creation of the EU was to foster the absence of trade barriers and create a new standard of living for all of Europe. Well, guess again, since the fundamental ideas controlling Europe are Socialist in nature, looks like all they've got to contend with now is a giant welfare-state government apparatus.
Here's some relevant observations from the article:
"Over the past decade, however, that approach was superseded by increasing centralization of economic decision-making in Brussels and top-down harmonization of rules of production, delivery and sale. Those pan-European regulations stifle competition. In effect, harmonization increases the costs of production throughout the EU to levels favored by high-cost producers in Western Europe. That eliminates competition from low-cost producers, such as those in Central and Eastern Europe."

Read the whole thing @: http://www.washtimes.com/commentary/20040503-085948-5723r.htm

Hat tip: TIA Daily

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