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Financial resources, mostly. The EU is still one of the richest regions in the world, the emphasis being on 'still' here. If they don't act now and if they don'
by BjoernKW 2y ago
Financial resources, mostly. The EU is still one of the richest regions in the world, the emphasis being on 'still' here. If they don't act now and if they don't act decisively, the EU will be economic backwater in a few years.
- ArtTimeInvestor 2y agoWhat type of financial resources? If you mean Euro balances - that is worth nothing in the context of what Europe can produce. If state currency could be converted to production capabilities, countries could just print money to increase production.
- BjoernKW 2y agoMoney. It's as simple as that. Europe (glossing over relatively minor regional differentials here) still is one of the richest places in the world. They just decided to use those resources for the wrong purposes. Again, it's as simple as that.
- ArtTimeInvestor 2y agoMoney is only worth something on a personal level. Not on a societal level. A society can print as much money as they like. It does not add any capability to society.