Poll: Is a US EU Common Market a good idea?
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Merkel proposes US EU Common Market
Quote:The Gulf crisis and economic recession caused the airlines to lose billions of dollars. The industry experienced the first drop in passenger numbers in a decade, and by the end of the three-year period 1989-1992 had lost about US$10 billion - more than had been made since its inception. Great airline names like Pan American and Eastern disappeared, while others, such as TWA and Continental Airlines, sought shelter from bankruptcy by going into Chapter 11.
Today the domestic industry in the US is a low cost, low fare environment. Most of the major airlines have undergone cost restructuring, with United Airlines obtaining employee concessions in exchange for equity ownership. Some airlines sought the protection of Chapter 11 bankruptcy to restructure and reduce costs and then emerged as strong low-cost competitor.
Quote:The truth is that europe simply cannot compete with the U.S. on anything like equal terms.
Talking about equal terms, do you have bankruptcy in mind? Sorry, there's no need for us to compete with that.
Quote:Another key recommendation by the Commission was that foreign airlines should be allowed to invest up to 49 per cent of the equity in US airlines and in return, obtain up to 49 per cent of the voting rights. Current US law allows foreign investment up to 49 per cent of the equity with voting rights of up to 25 per cent. An amendment to existing law requires an Act of Congress.
Or, is perhaps this 'equal terms'? European airlines must not serve the American domestic market, that is the fact. What's this bullshit about 'flag carriers'? Your country is twice as large as the whole of Europe (minus the former Soviet republics) and (West/Central/South) Europe contains forty or so different countries. A part of them even don't have domestic air travel. Of course, there are more 'flag carriers' and especially the small nations with small populations have no wholy 'private' airlines. Flag carriers are the result of international treaties anyway. What a cheap argumentation.
"You know, Paul, Reagan proved that deficits don't matter." Dick Cheney
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However, I had in mind the use of the word "BS" to be very lightly used, and not several times within a post. Soooooo, kindly understand that if you and others abuse the privilege of using that word more than is warranted, I shall be forced to lock it up once more. The last thing we need here is a vulgar forum.
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H. L. Mencken

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