So asks Sally McNamara, a Brit working for the Margaret Thatcher Center for Freedom in Washington DC. In her lecture delivered in June and published on the Heritage Foundation website this week, McNamara notes that the EU’s grandiose ambitions for economic domination have foundered, yet again.
She notes that
- 22 of the EU’s 27 member states have higher rates of unemployment than the United States;
- only 63% of people aged 15 to 64 are working, compared to 72% in the US;
- annual growth in the EU has averaged 2.1% compared to 3.3% in the US.
The reasons for this comparative stagnation? Strong state sectors and rigid labour markets. Also in the firing line was the Common Agricultural Policy.
