Wednesday, February 04, 2009

Europe loves Obama......but not "that" much!

European Union leaders are holding their annual attempt at pumping life into the EU economy, trying to make it the most competitive in the world by 2010.
The EU today threatened legal action and retaliatory measures against the US if the Obama administration enshrines a "Buy American" clause in its multibillion-dollar economic stimulus package.

The Euros are now discovering what that "change" part, of the Hope and Change, was all about.
It's a little bit hard to swallow this rhetoric from the European Union to express outrage at American protectionism, when that is typically their forte.

Last summer, PepsiCo was thought to be interested in buying up the French dairy company Danone. The French went apeshit.
Soon after, the French government came up with 11 strategic commercial sectors that should be protected from foreign takeovers. Economic patriotism was the new rallying cry.....Buy French. FINANCIAL TIMES

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