mr president the share of world gdp occupied by old europe is in serious decline
if we exclude the countries that joined in the last enlargement round the gdp of the world which was occupied by the fifteen old states forty years ago was thirty-five today is twenty-five in fifteen years time will be fifteen
europe is becoming sclerotic arthritic because of the economic and social model which we used to pride ourselves on
there was a time immediately after the war when it looked as if it was working paid holidays maternity leave what is not to like
limited working hours and so on
but there comes a moment when reality imposes itself and we have reached that moment now
it now takes four german workers to put in the same amount of hours over the year as three american workers as a result us share of world gdp over the last forty years has remained roughly stable
we are like an elderly couple in a once grand house which is beginning to crumble around us taking our eyes off the developments beyond our doorstep
our continent as a whole is becoming sterile sclerotic and old
