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Now Europe Blaming America for its Crisis?

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  • Description

    FBN’s Gerri Willis on the real factors leading to Europe’s economic crisis.

  • Duration 2:57
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Blame America.

That's the game being played by European officials at this week's G-20 meeting in fact.

The president of the EU commission Jose Manuel Barroso had some choice words for us.

But these crises must -- originated in Europe.

Since you mentioned North America these -- just wasn't rejected us America.

And many of our financial sector what company -- that by.

How can I put its I don't adopts practice from some sectors of the financial market.

I'm not believable you know it's worth noting.

Before Barrasso was president of the EU he was prime minister of Portugal -- country with a GDP roughly the size of Connecticut.

Is he an experienced hand at running global economies I don't think so.

And -- -- point that it's all the americans' fault.

I'm sorry but did Wall Street force Europe to do all that spending Tim America design your half baked currency union.

This is awfully arrogant for a guy leading -- European Union -- country after country needs a bailout really.

Europe's responsible for a host of how can I put it unorthodox practices that we can be thankful never spread here to the United States of America.

Let's look at for example at France.

They brought the world the government forced 35 hour work week.

-- more than that -- you're entitled to overtime.

France even put a limit on overtime.

220 hours -- here that works out to a little over four hours a week.

Would you want to hire a new employee if you were banned from getting a normal forty hour work week ever -- OK France is loosened some of these restrictions but with policies like this is it any wonder that employment is 12% or higher for a third of Europe.

Did you ever think -- 8% unemployment rate would seem low.

And how about Spain they are the creators of the CF -- a three hour break in the middle of the day when businesses shut down so people can think apps.

But all sounds so good but you know what it's not productive which will take -- -- Greece.

Really the pioneers of unsustainable government spending where nearly one in five work for the government.

We're even hairdressers get to retire early because it's defined as hard labor.

Look Europe's problems have been around for thirty or forty years they're paying for a welfare state and entitlement programs they can't afford.

And nobody wants to lend them money.

But if you listen to the EU commissioner it's clear they haven't gotten the message.

Frankly I'm not come yet to -- -- lessons in terms of democracy are being done -- apology -- economy.

Because do you view him as a model that you may be very pro growth.

Really it sounds like Europe's in -- state of denial if it's going to get out of this mess is going to have to reform itself.

Point fingers isn't gonna help still.

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