The European-American Dream
If Europe wants to maintain its welfare states, it must generate economic growth in order to pay for them, which means raising productivity and strengthening competitiveness – and asserting its place in the world. Europeans have a new reason for hope as they seek to achieve these goals: a transatlantic free-trade agreement with the US.
MADRID – Today, three European countries are among the world’s seven largest economies. Ten years from now, only two will remain. By 2030, only Germany will still be on the list, and by 2050, none will remain. Indeed, by then, the United States will be the only representative of the West in the top seven.