Far, far, far from it.
To put it bluntly, European businesses are kicking America's ass, as well as Japan's and China's. And the rest of the BRIC nations besides China. And, the earlier core EU of Western Europe could actually pick up the pace more. Picture EU expansion as being, other than the Greek debt crisis, something like how NAFTA was really supposed to work here in the New World, but didn't, primarily due to American big business greed, callousness and more.
Take note of the poll in the right-hand rail. A couple of months ago, I would have been ready to believe the worst about the Greek debt problem and vote more conservatively. Not now.
And, since French President Sarkozy hosts the G8 and G20 later this year, has been making noise about more financial reform, and the EU in general has done more than just make noise about other regulatory tightening in the last couple of years, Obama had better sit up and take notice.
I wouldn't be surprised if, by 2015, the euro is not a default tertiary global currency, with the EU accepting that, but deliberately keeping the currency from being a full-fledged secondary currency.
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