FedEx chief attacks European red tape

mkpdavies · 21-10-2005, 01:18 PM

http://msnbc.msn.com/id/9756058/

Quote:

Rigid labour markets and excessive red tape are deterring US investment in Europe and pose a "huge danger" to the continent's economy, Fred Smith, chief executive of FedEx, has warned.

Restrictive regulations and heavy social obligations on employers make US companies, including FedEx, cautious about expanding across the Atlantic.

Quote:

"Most US CEOs are particularly worried about the continued proliferation of regulations that come out of the EU," Mr Smith said in an interview.

While it is uncommon for such views to be voiced publicly, they are shared by many US chief executives who increasingly favour higher-growth opportunities in Asia and the US.

Historically, corporate America has invested far more money in Europe than any other region, but scepticism about the pace of economic reform poses significant risks to future inward investment.

Oh I thought the Euro was going to ATTRACT investment. Indeed, we were told if we didn't join it we would lose investment. WHAT A CROCK! The EU and it's stupid micky mouse money and regulations are turning Europe INTO phpbb_a sick joke.

Are we going to go down with the ship, or cut ourselves loose?

Roger Gough · 21-10-2005, 01:31 PM

For the EU - 'Mission accomplished', n'est pas?. The less the hated US is seen to be operating in the EU, the better they like it surely?

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21-10-2005, 01:31 PM	#2 (permalink)
Roger Gough Senior Member Join Date: May 2005 Location: Hotel California Posts: 704	For the EU - 'Mission accomplished', n'est pas?. The less the hated US is seen to be operating in the EU, the better they like it surely?