06-12-2004, 04:55 AM
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#1 (permalink)
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Administrator
Join Date: Sep 2004
Location: Long Ashton, Bristol
Posts: 10,097
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Red tape costing European Union businesses £700B a year
http://business.scotsman.com/managem...?id=1395652004
Quote:
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MOUNTING levels of red tape are costing the economies of the European Union more than 1 trillion (£700 billion) a year in lost output, a devastating report from the European Commission has conceded. The huge and growing burden is based on ground-breaking but overlooked research published by the US Federal Reserve Bank, which calculates that Europe’s failure to reform its economies along US lines is costing it 12.4 per cent of gross domestic product a year.
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