Connect with us

Economy and business

Everyone knows that the European Union has been a resounding, total, mistake.



Everyone in Europe who is not blind is realizing the failure of the European Union.

Antonio Gozzi, president of Federacciai, the Italian association of steel producers, in a recent interview with Corriere della Sera, energetically pointed out all the critical issues to date in Europe with specific regard to the cost of energy and steel production, not failing to emphasize how the situation for our country is even more problematic in this regard.

Gozzi points out how this problematic situation precipitates an economic decline of proportions that cannot be mimicked since “twenty years ago Europe’s GDP was equivalent to the U.S., while today it has dropped to 60 percent.” Moving from macroeconomics to microeconomics and indeed gliding over finance, this collapse appears equally crystal clear. The S&P 500 index contains the 500 most important stocks related to as many New York-listed companies (NYSE and Nasdaq) and accounts for about 80 percent of the market capitalization.

Since 2009, in the aftermath of the Lehman crisis, it has grown by almost 500 percent (487 percent to be exact), while the Euro Stoxx 50 stock market index related to the Eurozone has grown “only” 99 percent. The gap between the two worlds appears even more striking when one considers that the market value of the American microchip giant Nvidia alone exceeds the entire capitalization of stock exchanges such as Paris or London. The largest on our continent. It might be worth reflecting on the fact that (European) union does not make strength; on the contrary, it has only produced a hell of bureaucracy that has only served to sink European entrepreneurship.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Copyright © 2024 Scenari Economici - P.IVA: 02570830063