25/06/2007 7:49:26 am
Why the New EU Treaty Might Be Worse Than the Previous.

"Competition as an ideology, as a dogma, what has it done for Europe?"

French President Nicolas Sarkozy at the EU Summit, after managing to erase "free and undistorted competition" from the text as one of the EU:s main aims.

In a highly praised book, William J Baumol makes the case that institutional competition is in fact the main cause for Europe once becoming the first wealthy place on earth. Read more.

That′s one good reply to Sarkozy. Another is in today′s FT, read here.