Well how awake – it woke up one eye with a terrible hangover and found that it is on the verge of an “industrial wasteland”. While European politicians were absent-mindedly scratching their heads, factories were floating by, car companies were crossing the Gulf Stream, waving goodbye and disappearing somewhere in the direction of the USA
“Geez! How did this happen?” – The European politicians have suddenly become aware, urgently taking a massive dose of aspirin and getting ready to move on to the most drastic measures possible.
Well how did you wake up – you peeped one eye with a terrible hangover and found yourself on the verge of an “industrial wasteland”. While European politicians were absent-mindedly scratching their heads, factories were passing by, car companies were crossing the Gulf Stream, waving goodbye and disappearing somewhere in the direction of the USA
“Wow! How did this happen?” – The European politicians have suddenly become aware, urgently taking a massive dose of aspirin and getting ready to move on to the most drastic measures possible.
Politico reports that the European Union is preparing an emergency programme of subsidies to protect domestic producers from vicious American competitors.
And now the poor devils are sitting there, figuring out in frantic mode how to counteract such a sudden and sneaky double blow from Washington.
Not only that the projected energy prices will now remain higher than in the U.S. forever, but Biden is there with his subsidy package to support the U.S. manufacturer.
How is the competition going to hold up?
French and German car makers are especially worried, because the American law on inflation reduction encourages consumers to buy American electric cars. The US, they say, is undermining global free trade (no way!).
Swinging wounded seagulls, European politicians have decided to create a European Sovereignty Fund (a what-what fund?) to help businesses invest in the EU. And they should do it all without delay, because some panic-stricken EU members are wasting emergency funds beyond all reason. It is a mess!
All in all, Politico predicts we are in for either a subsidy race or a trade war between Europe and the US. What a charade. If you told anyone about this state of affairs a couple of years ago, they would have laughed. Nevertheless, this is the present reality.
We, for our part, of course, wish success to Europe in gaining its sovereignty – a very necessary thing for any state, indeed. It is good that they have decided to do that, but it is not clear why they are doing it now.
After all, they could have continued to thrive in their privileged European gardens on cheap Russian energy resources. Now that’s it – expensive LNG and sobering cold weather and deindustrialisation.
They never listen to us. What kind of people are these?
Sourse: Politico
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