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Building a More Prosperous Europe

Building a More Prosperous Europe

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Matt Browne explains why progressive economic policies will restore European growth and prosperity.
Matt Browne explains why progressive economic policies will restore European growth and prosperity.

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Published by: Center for American Progress on May 08, 2012
Copyright:Attribution Non-commercial

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05/08/2012

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?Hbmtbp lp Ofbpahom ^plipbxx u @raedami o Flpb ^plx~bplrx Brpl~b
@raedami o Flpb ^plx~bplrx Brpl~b
^plipbxxawb% ^poifotah% omd ^pl&Iplytj ^leahabx Yaee Jbe~@llxt Kl`x Iplytj omd Xtbf tjb Xlwbpbaim Db`t Hpaxax
Fott @plymb Foq :% 0>?0
Amtpldrhtalm
Tb wahlp l Gpomhlax Jleeomdb am jb xbhlmd omd moe plrmd l jb Gpbmhj ~pbxa&dbmaoe bebhalmx jax ~ox ybbcbmd yaee jl~bree fopc jb rpmami ~lam am `lj jbbhlmlfah lprmbx l jb Brpl~bom hlmambm omd jb ~leaahoe lprmbx l Brpl~b‑x ~pl&ipbxxawb ~leaahoe ~opabx- Jleeomdb% jb ebodbp l jb Xlhaoeax ^op% `loxx jb qroeaho&almx l ebod o ~poifoah% ~plipbxxawb% ~pl&iplyj bhlmlfah pbwawoe am Brpl~b-Am jb xjlp bpf jax pbwawoe yaee pbqrapb `lj eo`lp fopcb pblpfx% ~r`eah& omd ~pawob&xbhlp amwbxfbmx oafbd o xafreoami kl` iplyj% omd momhaoe ammlwoalmx l jbe~ otpohmby momhaoe ho~aoe aml jb pboe bhlmlf- Tax pbwawoe frx oexl `b lhrxbd lm `oeomhamifbdarf&bpf xhoe pbx~lmxa`aea yaj o elmi&bpf waxalm lp fldbpm amdrxpaoe pbmbyoe-Tax axxrb `pab bz~elpbx jb mby Gpbmhj ~pbxadbm‑x ~poifoax ebomamix l ohjabwb jbxbiloex% jbm bzofambx jb hrppbm orxbpa fboxrpbx jo wlbpx ohplxx frhj l Brpl~bopb pbkbhami—Jleeomdb‑x wahlp `bami jb flx lwbp xf`le l pbkbhalm l dob- Taxomoexax helxbx yaj o ellc o yj jb hlmxbpwoawb orxbpa o~~plohj axm‑ ylpcami omdjbm dboaex jb camdx l ~leahabx Jleeomdb omd ljbp ~plipbxxawbx am Brpl~b opb eacbe lhjof~alm l pbxlpb Brpl~bom bhlmlfah iplyj omd ~plx~bpa-
^pbxadbmt Jleeomdb ax o ~poifotaxt% mlt om adblelirb
Tlxb hlmhbpmbd jo jb mby Gpbmhj ~pbxadbm‑x ~leaahoe ebomamix yaee ~r fopcb xo`aea o paxc opb faxocbm- Gpomhlax Jleeomdb ax ml adblelirb- Lm jb hlmpop jb mby ~pbxadbmax o ~poifoah ~plipbxxawb yjl pboea{bx jo orxbpa joxm‑ ylpcbd- Jb pbhlima{bx yjoBrpl~b mbbdx ax o pboeaxah xpobi lp kl` hpboalm omd bhlmlfah iplyj- O ~poifoah% ~pl&ipbxxawb% ~pl&iplyj oibmdo ax yjo jb yaee dbeawbp% yjahj ax ~pbhaxbe yjo Brpl~b mbbdx-
 
0Hbmtbp lp Ofbpahom ^plipbxx u @raedami o Flpb ^plx~bplrx Brpl~b
Frhj l Brpl~b ax mly oeeami `ohc aml pbhbxxalm% yaj rmbf~elfbm ohplxx jbhlmambm hlmamrami l iply omd jb brpl{lmb xlwbpbaim db` hpaxax lmhb oioam x~apoe&ami lr l hlmple- Jleeomdb pboea{bx jo jb ~leah l~almx l~bm l om lmb moalm am ojaije ambipobd Brpl~bom bhlmlfah opbo opb fopiamoe- Tax ax yj Jleeomdb yaee lhrxaffbdaobe omd hlf~pbjbmxawbe lm Brpl~b-Drpami jb ~pbxadbmaoe hof~oaim Jleeomdb odwlhobd am owlp l o momhaoe pomxohalmoz am jb brpl{lmb l rmd amdrxpaoe pbxprhrpami- Jb xriibxbd jb faij pbmbila&ob jb BR xhoe ~oh oipbbd l am Dbhbf`bp—o ~oh fom `beabwb af~lxbx lwbpe lrij xhoe hlmxpoamx omd Brpl~bom xr~bpwaxalm lm fbf`bp xobx‑ `rdibx- Jb oexl~pl~lxbd jb hpboalm l brpl`lmdx axxrbd ` jb Brpl~bom hbmpoe `omc l frroea{bxlwbpbaim db` `rpdbmx- O jb afb jbxb ~leah ~lxaalmx ~eohbd Jleeomdb o jb hbmbpl o ~om&Brpl~bom ~plipbxxawb flwbfbm jo xlrij l hlf~bb yaj hlmxbpwoawb waxalmx lp jb hlmambm‑x rrpb% yjahj ybpb hbmbpbd lm xhoe orxbpa oelmb ox jbomxybp l Brpl~b‑x bhlmlfah omd `rdibop aeex-Bwadbmhb xriibxx jo o pbkbhalm l orxbpa ~leahabx yaee `b jb joeefopc l jbJleeomdb ~pbxadbmh- X~bocami o jb @oxaeeb am plm l jax xr~~lpbpx lm Xrmdo bwb&mami% Jleeomdb xobd jo jax wahlp yox o ―fbxxoib lp oee jb ~bl~eb l Brpl~b yjl%pbiopdebxx l jbap ebodbpx% yom om bmd l orxbpa-‖
?
Hlmxbpwoawbx jowb qrbxalmbd jb prb morpb l Gpomhlax Jleeomdb‑x ~leaahx- @r amLhl`bp eox bop% drpami jb Xlhaoeax ^op‑x ~pafop% Jleeomdb hebope ~lxaalmbdjafxbe ox o ~poifoax- Jax foam l~~lmbm yajam jb Xlhaoeax ^op% Fopamb Or`p%opirbd jo jb Gpbmhj yombd o flpb adbleliahoe eb l hlf`o jb ~l~reaxf l jbpaij- Jleeomdb hlrmbpbd jax% opirami jo jb Gpbmhj jod `bhlfb apbd omd yop l adbleli- Yjo jb pboee yombd% jb xoad% yox o xbod% ~poifoah jomd o jb aeebp- Tb0-2 faeealm haa{bmx yjl wlbd am jb xbhlmd plrmd l jb ~pafopabx oipbbd yaj jaf%dbeawbpami jaf jb Xlhaoeax ^op mlfamoalm- Ox jb ~pbxadbmaoe hof~oaim jbobd r~% jlybwbp% jb hlffrmax&`ohcbd% jopd&ebebodbp Kbom&Erh Fbebmhjlm `biom l dpoy foxxawb hplydx o poeeabx% ebodami Jleeomdb l wlahb flpb eb&ebomami hof~oaim jbfbx- Xjlpe `blpb jb px plrmd l jb ~pbxadbm&aoe wlb bopeabp jax bop% Fbebmhjlm plxb l japd ~eohb `bjamd Jleeomdb omd Xopcl{%~leeami o flpb jom ?2 ~bphbm l jb ~l~reop wlb- @r jb op&eb ebodbp bee `ohc am jbhelxami dox% omd lme pbhbawbd ??-? ~bphbm l jb px&plrmd wlbx-Glp xlfb hlffbmolpx% jbm% Jleeomdbx xja am lmb ax `bx rmdbpxlld ox o xaf~ebhof~oaim xpobi- Yjbm hlf~baalm plf jb eb bfbpibd% Jleeomdb jod ml hjlahb `r l helxb l jax ~leaahoe omc ` ~ebdiami l af~lxb o 92 ~bphbm oz pob lm jlxbbopmami flpb jom ? faeealm brplx *o`lr $?-8 faeealm!- @blmd jax% jlybwbp% a‑x oapl xo jo lmb l jb dlfamom jbfbx l jb hlmbx yox oapmbxx% hlf`ambd yaj omotohc lm jb rmdbxbpwami pahj-
 
8Hbmtbp lp Ofbpahom ^plipbxx u @raedami o Flpb ^plx~bplrx Brpl~b
Am O~pae jb Gpbmhj ~leaahoe ybbce Eb ^lam pom o plm hlwbp jo xr~bpaf~lxbd jbohbx l Gpbmhj l~~lxaalm ~leaahaomx lml Kbom&Wahlp Xhjmb{‑x hbeb`pobd ―Gaijamio jb Jlbe db Waeeb%‖ o ~oamami l o xpbb `oteb drpami jb Kre ?:8> pbwleralm jol~~ebd jb pbxlpbd @lrp`lm flmophj-
0
Flpb pbhbme% Gpbmhj ~leexbpx HXO ~pb&xbmbd ?%>>> wlbpx yaj ?1 cbylpdx ~ahcbd plf jb 0>>9 omd 0>?0 hof~oaim xeliomxomd oxcbd yjahj `bx pb~pbxbmbdjb xob l Gpbmhj xlhab omd yjahj `bx dbxhpa`bdjbap ~bpxlmoe xob l famd- Tb yl flx&rxbd ylpdx l dbxhpa`b xlhab ybpb ―~pl‖*28 ~bphbm! omd ―ho~aoeax‖ *48 ~bphbm!% yjaeb jb yl jo pbx~lmdbmx flx rxbdl dbxhpa`b jbfxbewbx ybpb ―hjomib‖ *0: ~bphbm! omd ―xleadopa‖ *02 ~bphbm!- Lme 4 ~bphbm ~ahcbd ―krxahb‖ ox o illd dbxhpa~alm l jb xob l Gpomhb yjaeb 00 ~bphbmxoad a yox o ~bpxlmoe ox~apoalm-
8
 Am omdbf yaj jb iplyami bwadbmhb l jb oaeamix l orxbpa omd jb hrppbm Brpl~bom~oj% o xplmi bioeaopaom hpaaqrb l jb bhlmlf bfbpibd am Gpomhb- Amdbbd% o iplyami `ld l ambpmoalmoe bwadbmhb xriibxx jo paxami ambqroea ebwbex opb `od lp iplyj% omdjo lhrx xjlred `b ~eohbd lm jb faddeb heoxx- @ ~rtami jbxb jbfbx o jb hbmbp l jax hof~oaim% Jleeomdb xlrij `lj l lhhr~ jb hbmbp iplrmd l jb Gpbmhj ~leaahoex~bhprf omd lhrx jax waxalm lm o mby bwadbmhb `oxb- Tax ebodx l om o~~plohj o~~bopamil `b ox woerbx dpawbm omd ~poifoah ox a ax adbleliahoe pbwbpxoe lp hof~oaim xpobi- Yjobwbp jb pboxlm% omd yjobwbp pjblpah Jleeomdb fo jowb rxbd l iropd jax eb omdrpami jb ~pbxadbmaoe hof~oaim% jb ~pbxadbm&bebh‑x bhlmlfah odwaxlpx ~awlbd `ohc l ~poifoaxf omd `biom l xcbhj lr o pboeaxah Brpl~bom oibmdo drpami jb moe doxl jb hof~oaim- Lm jb bwb l jb px plrmd% Beaxo`bj Irailr% lpfbp momhb famaxbpomd odwaxlp l Jleeomdb% oddpbxxbd o fbbami l jb ~plipbxxawb ~opeaofbmopaomx mbylpc lpioma{bd ` jb Hbmbp lp Ofbpahom ^plipbxx am Plfb- Tbpb xjb xriibxbd jo pojbpjom ~rpxrami o `rpdbmxlfb pbmbilaoalm l jb BR xhoe ~oh omd Brpl~bom hbmpoe `omc brpl`lmdx lp frroea{ami db`% Jleeomdb ylred ohroee xbbc l hlf~ebfbm jb ~oh yaj o kl`x&omd&iplyj oibmdo o jb Brpl~bom ebwbe omd ~rxj lp jb hpboalm l Brpl~bom―~plkbh `lmdx‖ dbxaimbd l ebwbpoib ~pawob ho~aoe aml frhj&mbbdbd Brpl~bom ampo&xprhrpb omd amdrxpaoe amwbxfbm ~plkbhx-
4
Jleeomdb jafxbe oexl ~plfaxbd l ~rpxrb o~prdbm xhoe ~leah omd l `oeomhb jb moalmoe `rdib ` jb bmd l jax wb&bop bpf-
 Tjb paxb lg orxtbpatq ~leatahx
Jleeomdb‑x ~leah ~eolpf ax l o ipbo bzbm o pbohalm l jb hlmxbpwoawb orxbpa oibmdojo jox dlfamobd jb Brpl~bom db`ob xamhb jb lmxb l jb momhaoe hpaxax- Am jb affb&daob obpfoj l jax hpaxax% ~plipbxxawbx ohplxx Brpl~b xrbpbd o xpami l bebhlpoe dbbox-Am ―Tb Brpl~bom ^opodlz%‖
2
Kljm Joe~am% Pr bazbapo% omd A xlrij l omoe{b yj jblprmbx l Brpl~bom ~plipbxxawb ~opabx jod dbheambd leelyami jb ~pbwalrx orrfm‑xxrddbm momhaoe hleeo~xb omd jb iel`oe bhlmlfah pbhbxxalm jo bmxrbd- Lrp xopami ~lam yox jo ~plipbxxawbx xjlred% am ~pamha~eb% jowb jod yl xpbmijx ilami lp jbf;

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