NationStates Jolt Archive

http://www.reuters.com/article/idUSL1491971920080314

tl;dr The Eurozone's economy is now bigger than the US's due to the drop in the US dollar.

What do you think it means for the US and the World? Being something of a milestone mark, do you think this will have some effect on the US foreign power? Will Europe now be able to play an even bigger role in world politics (particularly with countries that are not as close to Europe geographically)? Will America take this fact nicely, or will the whine/blame brown people?

EDIT: Since people seem to be having issues with the word Eurozone, I'll go ahead and provide a concrete definition. Loosely, it is the part of the European Union that uses the Euro. More strictly speaking, in order for a EU country to be able to use the Euro as its currency, it has to meet a set of guidelines set by the European Commission, then get explicit approval from the Commission. There are fifteen countries in the Eurozone with a total population of 320,000,000: Austria, Belgium, Cyprus, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, Malta, Netherlands, Portugal, Slovenia, and Spain.

http://www.reuters.com/article/idUSL1491971920080314

tl;dr The Eurozone's economy is now bigger than the US's due to the drop in the US dollar.

What do you think it means for the US and the World? Being something of a milestone mark, do you think this will have some effect on the US foreign power? Will Europe now be able to play an even bigger role in world politics (particularly with countries that are not as close to Europe geographically)? Will America take this fact nicely, or will the whine/blame brown people?

The Eurozone is 15 countries. Why is it being compared to one country? I am not understanding.

http://www.reuters.com/article/idUSL1491971920080314

tl;dr The Eurozone's economy is now bigger than the US's due to the drop in the US dollar.

What do you think it means for the US and the World? Being something of a milestone mark, do you think this will have some effect on the US foreign power? Will Europe now be able to play an even bigger role in world politics (particularly with countries that are not as close to Europe geographically)? Will America take this fact nicely, or will the whine/blame brown people?

It doesn't mean too much, seeing as we've been about on par with Europe for several years, while they've been adding more and more countries to the EU. Crossing over the line doesn't mean much in itself. Besides, with 200 million more people living in Europe, and in large welfare states, more importantly, their expenses are bound to be higher than ours. In other words, our spending power is still greater, in terms of foreign (military) power.

What do you think it means for the US and the World? Being something of a milestone mark, do you think this will have some effect on the US foreign power?
Some, but not a whole lot. It's certainly not going to stop the war in Iraq, or intervening wherever our current government decides to unless of course, we get some sensible polititions in office. Nah. Won't happen:p.

http://www.reuters.com/article/idUSL1491971920080314

tl;dr The Eurozone's economy is now bigger than the US's due to the drop in the US dollar.

What do you think it means for the US and the World? Being something of a milestone mark, do you think this will have some effect on the US foreign power? Will Europe now be able to play an even bigger role in world politics (particularly with countries that are not as close to Europe geographically)? Will America take this fact nicely, or will the whine/blame brown people?

Hardly any difference really, China and India got their economies downgraded in PPP terms, in the last two months and not a lot changed. Besides, the Eurozone is exactly that, a zone, not a single entity. The countries still make their own foreign policy and a few of them are regional powers which means they will have a say. Regardless, US military dominance probably won't be matched for the next couple of decades.

You mean the economy of 15 countries is greater then the economy of one?


Oh wow...

would we be #1 if we added in canada and mexico and called it the nafta zone?

would we be #1 if we added in canada and mexico and called it the nafta zone?

You could also use the OAS. Organization of American States.

You could also use the OAS. Organization of American States.

oooohhhhh yeah 35 countries!

You mean the economy of 15 countries is greater then the economy of one?


Oh wow...

^
That

Well, time to invade Japan.

oooohhhhh yeah 35 countries!

Population of 895 million(2005) and a GDP of 18.41 trillion(2006). EU.....pffff

Umm, so a collective has a bigger GPD than a signle country. Call the Nobel commitee!

In other words, our spending power is still greater, in terms of foreign (military) power.
Wait.. what?

http://www.reuters.com/article/idUSL1491971920080314

tl;dr The Eurozone's economy is now bigger than the US's due to the drop in the US dollar.

What do you think it means for the US and the World? Being something of a milestone mark, do you think this will have some effect on the US foreign power? Will Europe now be able to play an even bigger role in world politics (particularly with countries that are not as close to Europe geographically)? Will America take this fact nicely, or will the whine/blame brown people?

On the other hand, the Eurozone is nowhere near as integrated as the United States is, either politically or economically.

I've never managed to get my personal sense of self-worth involved with how "big" the economy is. I don't know how people can do that, but many do.

old news surely :confused:

I've never managed to get my personal sense of self-worth involved with how "big" the economy is. I don't know how people can do that, but many do.

how else can we keep Jamaica down?

They also have a population nearly 200 million higher than ours...it would be far stranger for them to be smaller than the US economy, especially with all of the fast economic growth in Eastern Europe and extensive expansion of the Union in recent years. Not that it matters, anyways. A bigger EU economy is better for the US, because they are one of our biggest export markets and a source for many jobs and billions in investment.

However, don't forget that they also have a significantly lower GDP per capita, which is somewhat more important when comparing the overal economic condition of the two economies.

They also have a population nearly 200 million higher than ours

No, the Eurozone has roughly 320 million, where the US has roughly 300 million (both gotten from Wiki).

Remember, Eurozone =/= EU.

No, the Eurozone has roughly 320 million, where the US has roughly 300 million (both gotten from Wiki).

Remember, Eurozone =/= EU.

Yeah, I mixed up Eurozone and European Union numbers.

Wait.. what?

Just back away slowly.

The Eurozone is 15 countries. Why is it being compared to one country? I am not understanding.

How many states in the USA again ?
Quite comparable. Even in landmass and population.

The Eurozone is 15 countries. Why is it being compared to one country? I am not understanding.

That was my first thought on seeing the word "Eurozone"

I thought it was actually going to be one country, rather than a whole continent verses one country.

So... from reading just the OP... the US still has the largest economy correct? (by nation, not by unfair comparison to whole continents).

How many states in the USA again ?
Quite comparable. Even in landmass and population.

Umm... a US state is not equivalent to a European Nations... perhaps you should take a civics or geography course....

And the OP would suggest that some country has surpassed the US... otherwise all sorts of ridiculous comparisons can be made that are not necessarily equivalent.

The US has the strongest individual economy.

Umm... a US state is not equivalent to a European Nations...

Indeed. Since the Euopean nations are independent, one should expect them to perform less

And the OP would suggest that some country has surpassed the US... otherwise all sorts of ridiculous comparisons can be made that are not necessarily equivalent.

Comparing two economic powerblocks of similar size is quite valid. The USA did it all the time when it was still the biggest.

Indeed. Since the Euopean nations are independent, one should expect them to perform less



Comparing two economic powerblocks of similar size is quite valid. The USA did it all the time when it was still the biggest.

... but the Eurozone is hardly to be considered that same form of powerblock as the US... there is not necessary cohesion in the Eurozone....

There are also many many more people.

And US states are still not equivalent to a European nation, therfore they should not be a valid comparison.

And to answer your previous question, there are 50 US states... not sure why you didn't just wiki it, but whatever.

US:
Area: 9,826,630 sq km
Population: 301,139,947 (July 2007 est.)

EU (wich is much bigger than the eurozone):
Area: 4,324,782 sq km
Population: 490,426,060 (July 2007 est.)

US:
Area: 9,826,630 sq km
Population: 301,139,947 (July 2007 est.)

EU (wich is much bigger than the eurozone):
Area: 4,324,782 sq km
Population: 490,426,060 (July 2007 est.)

Eurozone:
Area: 2,579,131 sq km
Population: 320,143,372 (July 2007 est. (Wikipedia))

The Eurozone is 15 countries. Why is it being compared to one country? I am not understanding.It was 18, last time I counted. The comparison is probably being done because both the US and Eurozone countries each have one currency.

You mean the economy of 15 countries is greater then the economy of one?


It seems far more of a fair comparison than comparing a medium sized country to a huge one like the U.S

Interesting ... US economic/cultural/diplomatic hegemony is on the decline. Military power will inevitably follow. The US used to be the moral leader of the free world, but no longer!

You mean the economy of 15 countries is greater then the economy of one?


Oh wow...18.

... but the Eurozone is hardly to be considered that same form of powerblock as the US... there is not necessary cohesion in the Eurozone....

There are also many many more people.

And US states are still not equivalent to a European nation, therefore they should not be a valid comparison.

And to answer your previous question, there are 50 US states... not sure why you didn't just wiki it, but whatever.Only about 20 million people more. That's less than a ten percent difference.

Why aren't US states and European state a fair comparison. Both have their own constitutions. Both are allowed to govern freely over their land. You are considered a citizen of both the (Con)Federation and the member state in which you reside. The main difference is over time, the US states have given up their power to the federal level. In concept the two should be comparable, in practice US states act like provinces while the EU states act as independent states.

Also, I bet the "How many states?" question was rhetoric.

Look, you can compare either GDP or GDP per capita.

If you compare GDP per capita, the US already loses.

If you compare GDP, size is irrelevant.

18.

Actually, no.

Taking the gross domestic product of both economies in 2007, the combined GDP of the 15 countries which use the euro overtook that of the United States when the European currency surged to a record high of more than $1.56 per euro.

Actually, no.That depends on how you define "Eurozone".
There's more than 15 countries that mint the Euro, and I know this is because I own sets of 13 different countries, and none of them are San Marino, Vatican City, or Monaco. I'm also missing Malta and Cyprus. I count 18 countries minting their own Euro coins. 15 of them are EU countries.
However, the article is false. There are currently 20 countries that I know of that use the Euro; all of the above plus Montenegro and Andorra.

That depends on how you define "Eurozone".

Yes. I think they're only counting the ones that are also in the EU.

Yes. I think they're only counting the ones that are also in the EU.Probably.

Umm... a US state is not equivalent to a European Nations... perhaps you should take a civics or geography course....Not comparable in what way? The news sometimes informs Americans as to the proportions of small countries by way of analogy to American states. Besides, isn't the appropriateness of a comparison dependent on what question is being asked? In this case the question is "What is the largest economy in the world?". If the question was "What country has the largest economy in the world?", then the comparison would be inappropriate.

And the OP would suggest that some country has surpassed the US... otherwise all sorts of ridiculous comparisons can be made that are not necessarily equivalent.
Besides being pointlessly speculative, the OP explicitly stated 'Eurozone'.

The US has the strongest individual economy.How would you define 'individual'? You're going to have a tough time defining it as anything other than 'country', which I already stated is irrelevant to the question being asked. The Eurozone is an individual economic entity, one which now has a larger economy than the US.

You could also use the OAS. Organization of American States.

Their integration isn't anywhere near to EU. Since the Maastrich treaty that formed the European Union EU has become more and more like the US as a sort of federal system. EU is basically a very loose version of the US.

I love how this thread has turned into some sort of American self-justification, when there doesn't need to be any. Really, I wouldn't feel threatened at all. As you've said, your economy is only slightly smaller than that of most of the EU combined. Don't forget: As long as you have a MacDonald's in every major city, you should be fine.

Good for the EU. Glad to see that they could figure out how to play together. Now, if they would just quit changing the CE rules so that we could figure out how to play with them...

So, thanks to the UnitedStatesOfAmerica-'s thread (http://forums.jolt.co.uk/showthread.php?t=551893) I found an article more about what I wanted to discuss in this thread. Basically, the EU has threatened the US and China with economic sanctions due to their pollution policies.

The EU couldn't have done something like this earlier (when the US still had the clear advantage), but now that they are on par with the US they can try to use their economy to influence the US and China without it just being an effort in masochism. Will more issues like these come out of the EU's growing economic power, and more importantly, can we expect them to win more often, even against other economic monsters such as the US and possible China in the future?

All of the U.S. states with countries of comparable GDP overlaid on them. I particularly love CA.
http://forums.jolt.co.uk/attachment.php?attachmentid=60191&stc=1&d=1205690604

What is the Eurozone? The European Union?

What is the Eurozone? The European Union?

The Eurozone is all comprised of all nations that use the euro as their common currency.

The Eurozone is all comprised of all nations that use the euro as their common currency.No, I think in this case it's only EU countries that use the Euro, that is 15 countries as opposed to the 20 that use the Euro as their currency.

All of the U.S. states with countries of comparable GDP overlaid on them. I particularly love CA.New Jersey is funnier, but probably no longer accurate.

No, I think in this case it's only EU countries that use the Euro, that is 15 countries as opposed to the 20 that use the Euro as their currency.

I did not know non-EU countries have used the Euro as their currency.

I did not know non-EU countries have used the Euro as their currency.Monaco, San Marino, and the Vatican mint their own and Andorra and Montenegro (as well as Kosovo, but that doesn't count as a sovereign nation) use the Euro as their primary currency. Andorra formerly used both French Francs and Spanish Pesetas, while Montenegro (and Kosovo) used the D-Mark. The three Ministates Vatican, Monaco, and San Marino have been using and minting their own versions of the currency of the country they're embedded in according to prior agreements.

I have no idea... All I know is Australia has extremely high employment, the economy seems okay, but the interest rates are through the roof, and the government is talking down the economy, which is damaging business because people aren't buying as much stuff. :(

http://www.reuters.com/article/idUSL1491971920080314

tl;dr The Eurozone's economy is now bigger than the US's due to the drop in the US dollar.

What do you think it means for the US and the World? Being something of a milestone mark, do you think this will have some effect on the US foreign power? Will Europe now be able to play an even bigger role in world politics (particularly with countries that are not as close to Europe geographically)? Will America take this fact nicely, or will the whine/blame brown people?

Come on, Posi. Surely you had to know that this entire thread would be filled with variations on "NANANANA! I CAN'T HEAR YOU!" Were you trying to rile them up?

You know this is only temporary, that is the EU being the largest economy. This is due to the fact that the dollar happens to be very weak now, I doubt that it will stay so. And besides the EU is still a union of independent nations not a single entity, that limits its actions in world politics.

"The US economy is no longer the largest."

good!

=^^=
.../\...

It doesn't mean too much, seeing as we've been about on par with Europe for several years, while they've been adding more and more countries to the EU. Crossing over the line doesn't mean much in itself. Besides, with 200 million more people living in Europe, and in large welfare states, more importantly, their expenses are bound to be higher than ours. In other words, our spending power is still greater, in terms of foreign (military) power.

Great point... The United States is still the hegemonic state. We are dominant in terms of military might, spending power, civil liberties, quality of life, and political freedoms.

Great point... The United States is still the hegemonic state. We are dominant in terms of military might, spending power, civil liberties, quality of life, and political freedoms.

Sorry, what?

On the other hand, the Eurozone is nowhere near as integrated as the United States is, either politically or economically.
Or culturally for that matter. There are so many different languages spoken between people in those 15 countries.

Great point... The United States is still the hegemonic state. We are dominant in terms of military might, spending power, civil liberties, quality of life, and political freedoms.

I'm pretty sure the EU has America beat in terms of civil liberties. And doesn't Britain have a referendum or recall at a national level? If so...they've got us beat on political freedoms too.

Nothing like using an invented term to build a straw man for an argument.

Nothing like using an invented term to build a straw man for an argument.

The Eurozone is all countries that use the Euro as primary currency.
As was already stated in this very topic.

Nothing like using an invented term to build a straw man for an argument.

Invented term? who exactly are you replying to?

I say we invade Mexico/Canada causing a decrease in border problems(no border) therefore increasing population making a unified North American continent how awesome would that be?>

I say we invade Mexico/Canada causing a decrease in border problems(no border) therefore increasing population making a unified North American continent how awesome would that be?>

Man, I hope that's a joke...

Nothing like using an invented term to build a straw man for an argument.This has been discussed twice in this thread already. Since it is still a problem, I'll amend the OP to include what is meant by the word 'Eurozone'.

I say we invade Mexico/Canada causing a decrease in border problems(no border) therefore increasing population making a unified North American continent how awesome would that be?>

I would rather have Canada and Mexico and no America. What a better world. No Iraq, no Afghanistan, no George Bush.

I'm pretty sure the EU has America beat in terms of civil liberties. Depends entirely on which Civil Liberties you're talking about.

You mean the economy of 15 countries is greater then the economy of one?


Oh wow...

the US is made up of 50 constituent States. the Eurozone is evolving into something similar, especially with a single currency and joint central bank. the comparison isn't that different, y'know

the US is made up of 50 constituent States. the Eurozone is evolving into something similar, especially with a single currency and joint central bank. the comparison isn't that different, y'know

Actually...no it can't be compared at all.

Actually...no it can't be compared at all.

Why not ? Both are economic powers with a common currency.
That they vastly differ in other ways does not mean we cannot compare them on this aspect.

Actually...no it can't be compared at all.

. . .

You want to provide a bit of meat to that point or you just going to leave it at "no"?

Actually...no it can't be compared at all.

USA: 50 states making up a union with a central bank and single currency, with free trade borders and federal regulation.

Eurozone: 15 nation-states making up a union with a central bank and single currency, with free trade borders and federal-style regulation.


the economic and political integration is obviously less tight in the Eurozone, but i fail to see why they can't be compared. unless the reason is it hurts american national pride of course...


You know this is only temporary, that is the EU being the largest economy. This is due to the fact that the dollar happens to be very weak now, I doubt that it will stay so. And besides the EU is still a union of independent nations not a single entity, that limits its actions in world politics.

a reason why i want to see a Federal European Union

Why not ? Both are economic powers with a common currency.
That they vastly differ in other ways does not mean we cannot compare them on this aspect.

for starters, we are a federal republic with a written constitution and established authority. The nations of the European Union maintains soveriegnty over their own nations each with their own militaries answerable only to their own governments while the EU leadership has a rotating cycle of whose leading it. There is no one leader in the EU and on top of that, the leadership is not all that strong. When Europe fully unites like the US has done, then we can fully compare them. Until then...

for starters, we are a federal republic with a written constitution and established authority. The nations of the European Union maintains soveriegnty over their own nations each with their own militaries answerable only to their own governments while the EU leadership has a rotating cycle of whose leading it. There is no one leader in the EU and on top of that, the leadership is not all that strong. When Europe fully unites like the US has done, then we can fully compare them. Until then...
all political issues, not economic

Probably two paths.

Economic collapse
Several small economies spring up
Things are decentralized, trading and bartering becomes way, way more common than buying and selling.
Ron Paul fixes it. (Okay, more like a dream than anything.)
????
EVENTUAL PROFIT!!!!

Economic collapse
Bush declares disaster
Martial law
We get shipped off to FEMA labor camps, tortured, etc.
????
404- Profit not found.


]:

for starters, we are a federal republic with a written constitution and established authority. The nations of the European Union maintains soveriegnty over their own nations each with their own militaries answerable only to their own governments while the EU leadership has a rotating cycle of whose leading it. There is no one leader in the EU and on top of that, the leadership is not all that strong. When Europe fully unites like the US has done, then we can fully compare them. Until then...

Noone is comparing them fully here. Just an economic aspect.

all political issues, not economic

Actually...that's not necessarily true either but then again...what can I expect from a board like this?

Actually...that's not necessarily true either but then again...what can I expect from a board like this?

How is it not true that "written constitution", "soveriegnty [sic] over their own nations", "militaries answerable only to their own governments" and "leadership" are political and not economical issues?

Actually...that's not necessarily true either but then again...what can I expect from a board like this?

want to say why that's not true? might be a good idea.

seperating economic issues from political ones isn't that crazy. and if we're comparing economic factors here, and not the political make-up of the two economic entities, then it makes sense that political differences can be ignored.

if you're intending to draw political influence into the discussion (ie "the US has more political influence because it is a coherent nation with one government") then you have every reason to discuss the Eurozone's lack of political integration, but otherwise i believe your point to be moot.

How is it not true that "written constitution", "soveriegnty [sic] over their own nations", "militaries answerable only to their own governments" and "leadership" are political and not economical issues?

In terms of constitutions, yea that's political but sovereignty, militaries, leadership all have economic implications. If a nation is not performing in the Eurozone, then the euro will also suffer from said effect. You have over a dozen different nations with one currency against one nation with one currency.

You have over a dozen different nations with one currency against one nation with one currency.

You have one economic bloc versus one economic bloc - both with constituent parts.

It's an easy comparison to make, and one which economists have made for years. But, you know better I suppose.

You have one economic bloc versus one economic bloc - both with constituent parts.

Its not even an economic bloc. We are one nation with one currency. The Eurozone is several nations with one common currency. If we joined forces with Canada and Mexico with one common currency, then we can compare.

Its not even an economic bloc. Complete the following sentence:
"You can find evidence for my wild claim under _____________"

Its not even an economic bloc.

Until it got surpassed by the Eurozone, the USA has always compared the two in this way without complaints.

What changed ;) ?

In terms of constitutions, yea that's political but sovereignty, militaries, leadership all have economic implications. If a State is not performing in the USA, then the dollar will also suffer from said effect. You have over a dozen different nations with one currency against one nation with one currency.

fixed.

Its not even an economic bloc. We are one nation with one currency. The Eurozone is several nations with one common currency. If we joined forces with Canada and Mexico with one common currency, then we can compare.

i think i see your arguement.

however, the countries in the Eurozone are also currently part of the European Union, which is a political union. there is a common supranational (similar to Federal) political union, and an economic union for these nations. this is more similar to the USA than a non-existant union between the US, Canada and Mexico for example.

the latter nations also do not share a common central bank (iirc, i may be wrong), and do not require meeting criteria to use the dollar.

besides, the US dollar is different from the Canadian dollar. which is different from the Mexican peso. the Eurozone countries do not have an exchange rate as the currency is shared. again this is more similar to the US than your hypothetical comparison.

Until it got surpassed by the Eurozone, the USA has always compared the two in this way without complaints.

What changed ;) ?

I never compared the Eurozone with America as two economic blocs.

I never compared the Eurozone with America as two economic blocs.

So it's your opinion versus, you know... established economic thought.


Right then.


Annnnnnnyway, back to the topic at hand. Is it more to do with the growing strength of the Eurozone or is it merely a reflection of the current weakening of the dollar? Anyone?

So it's your opinion versus, you know... established economic thought.


Right then.


Annnnnnnyway, back to the topic at hand. Is it more to do with the growing strength of the Eurozone or is it merely a reflection of the current weakening of the dollar? Anyone?

I blame the dollar.

Annnnnnnyway, back to the topic at hand. Is it more to do with the growing strength of the Eurozone or is it merely a reflection of the current weakening of the dollar? Anyone?

Both. Especially with the inclusion of nations like Poland and Bulgaria who, frankly, really have nowhere to go but up.

Both. Especially with the inclusion of nations like Poland and Bulgaria who, frankly, really have nowhere to go but up.Neither Bulgaria nor Poland are in the Eurozone.

Neither Bulgaria nor Poland are in the Eurozone.

They are, however, in the EU. And with the nonexistant or relaxed trading restrictions between EU nations, as the economies of non eurozone EU nations improve, this causes a growth cycle throughout the EU, and the eurozone as eurozone countries

1) have additional markets for their goods
2) are able to import goods at low cost

Both of these having a growth effect.

Annnnnnnyway, back to the topic at hand. Is it more to do with the growing strength of the Eurozone or is it merely a reflection of the current weakening of the dollar? Anyone?



I blame the Jews/Arabs/*Insert typical scapegoat here*

No, in seriousness, I blame the dollar.

They are, however, in the EU. And with the nonexistant or relaxed trading restrictions between EU nations, as the economies of non eurozone EU nations improve, this causes a growth cycle throughout the EU, and the eurozone as eurozone countries

1) have additional markets for their goods
2) are able to import goods at low cost

Both of these having a growth effect.

So it was good idea to let those nations join the EU :fluffle: And soon they'll adopt the Euro hopefully and I don't have to exchange money anymore when going there :D Yay!

Oh, and on topic: I blame the dollar, it's decreasing in value every month, and it won't get any better soon I think :(

:( because it hurts the EU/Eurozones export ofcourse :p

for starters, we are a federal republic with a written constitution and established authority. The nations of the European Union maintains soveriegnty over their own nations each with their own militaries answerable only to their own governments while the EU leadership has a rotating cycle of whose leading it. There is no one leader in the EU and on top of that, the leadership is not all that strong. When Europe fully unites like the US has done, then we can fully compare them. Until then...

so your claim is that we cannot compare the usian economy to anything other than an entity forming a federal republic with a strong president and a written constitution maintaining a unified standing army? really?

To be fair, by only counting countries who use the Euro, it leaves out small countries that are not so well off financially. Whereas, using the whole united states uses a lot of states who are basically worthless. As a small comparison, check out this link.

http://bigpicture.typepad.com/comments/2007/01/countries_gdp_a.html


Also, a list from Investor's Daily. Not sure if it's available on the internet or not, but I pulled it out of the magazine.


japan - 4149
germany - 1847
UK - 1474
california - 1415
france - 1307
china (ex-HK) - 1159
italy - 1089
canada - 700
mexico - 618
spain - 582
brazil - 504

No, in seriousness, I blame the dollar.
Yep. It's not like the eurozone is a shining example of economic health.