"(The EU is) a customs union. It protects itself from outsiders with walls of tariffs. It is in many ways very reactionary. Those who control everything, the Central European states France, Germany, Spain and Italy, are not the countries of the free market and have never been. Those are countries which have cetralised their economy very much. Their economy is in many ways incomplete with much rigidity in the labour market. They have a very complex and wide-ranging system of subsidies and grants. State interference in the economy is vast. And in many ways the European Union is driven by dreams of past greatness; dreams of keeping Europe as a superpower. The result of all this is that growth in the EU is rather small compared to America and Asia."


Interesting analysis by an Icelandic economics professor who wonders why Iceland, which: "...has more growth than the EU, higher average income and enjoys certain independence and freedom, should want to join this company?"

Hat tip to The Corner.