This is CBSI on the world.

I'm John Batchel.

The European Union, 27 states, all well-to-do,

describing 450 million consumers,

and a collective asset of 18 trillion.

That matches China easily with half the population. However, I welcome Michael Toth, the director of research at the Civitas Institute, that's the University of Texas at Austin, writing most recently at

Civitas Outlook. Michael, a very good evening to you. The European Union's reputation is first and

foremost a regulatory body that makes uniform the application of laws and interpretations and panels

across all 27 states.

However, the growth of the European Union is disappointing to be diplomatic and what is to be done. Your essay focuses on two areas that the European Union can see, can recognize, but can act on climate and digitalization technology. What is it about

those two areas that holds the European Union back? If so, good evening to you. Good evening,

John. It's so great to be back with you. And you really nailed it. I mean,

as Europe's reputation has become more and more associated with regulation, its growth prospects have gone down.

I mean, if we reroute 30, 40 years ago, the European Union was supposed to be a currency union to increase trade

across the different member states. It's become something completely different. And the Europeans

are suffering as a result of it. I mean, back at the time of the great financial crisis in 2008,

the United States and the European Union had the

same gross domestic product. What great news we got today, we're grown at an over 4% clip for

2025. The great Larry Cudlow, former national economic advisor to President Trump, is talking about a

5% growth rate in 2026 for the United States.

Meanwhile, Europe, we've left them in the dust.

We were equal back in 2008.

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