The EU was is and always will be a low growth economy. This is inevitable from the inherent inflexibility from centralised decision taking. Add to this its large ageing demographies problems and huge debts and the EU is on a journey to nowhere in world terms.
OECD predictions are that the EU will have around half the world trade it has today by 2050 (from 16% down to 8%).
That could be very optimistic as the EU is not driven by economics but solely by its political agenda of ever-increasing centralisation.
Politics is irrational and ignores the real world downsides that are inevitable from policies that totally ignore economics and markets.
The FTT was a purely political decision which will cost the EU dear once is in place.
The creation of Eurozone has meant increased debt, poverty, and unemployment. There is no way the PIIGS will ever be able to compete with Germany with its long term massive investments now they are locked to a common currency.
Germany consistently improves it manpower costs though investment and is around 15% more efficient than a decade ago.
The PIIGS are in a race they can only lose where they will continually need to reduce wages to match German efficiency improvements as they do not haver the money to invest.
The EU does not have and never can have policies to compete with the world as competition is the antithesis of the EU level playing field.
Companies that want to grow will have to invest in the market of the developing world as the EU market can never have high growth.
Inevitably as the decades pass the balance of UK trade must move increasingly towards the growing rest of the world and against the EU.
What use are low growth EU markets to the profit line? Profit is the driver for companies.
The EU is yesterday whereas the rest of the world is tomorrow.
There is a gathering electoral storm – Nigel Farage MEP