quinta-feira, março 15, 2007


todos muito mais felizes daqui a 50 anos.


The EU is celebrating its 100th birthday with quiet satisfaction. Predictions when it turned 50 that it was doomed to irrelevance in a world dominated by America, China and India proved wide of the mark. A turning-point was the bursting of America's housing bubble and the collapse of the dollar early in the presidency of Barack Obama in 2010. But even more crucial were Germany's and France's efforts later in that decade, under Angela Merkel and Nicolas Sarkozy respectively, to push through economic reforms.
These reforms produced a sharp fall in unemployment just as Europe began to enjoy a productivity spurt from the spread of information technology. The eventual result was a growing labour shortage, which was not resolved until the arrival of Turkey and Ukraine as full members in 2025. The accession soon afterwards of the first north African country, Morocco, helped to prolong Europe's boom.

[Economist, 16 Mar 07]

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