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'On the Record'-Open for Business: A look at how Europe's economy affects the fortunes of American companies
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But there's no doubt about the world economy is in crisis -- China's space in an economic slowdown and Europe from Greece to Italy to Spain.
The content is struggling to stay afloat and that is not good news the United -- so how do you Europe's troubles impact.
Our businesses Steve that -- any -- we can be possibly immune to what's going on Europe.
Not really really if we had a vigorous economy may be flown to Europe is 20% of the global economy huge part of the banking and global economy.
So when they get sick we're gonna get after effects of it both in terms of imports exports and that capital flowing back and forth.
Yes but they were we're gonna feel are feeling it neck.
To me your prison crystal ball and that's where we're headed if we don't change course.
I was over here for a few weeks ago we've small operation over there and the doctors had gone on strike.
And the national health service announced that they were no long -- any knee surgery and hip surgery we're going cataract surgery.
-- That's pretty scary thing is steady night and we can't be moved from and I think I agree with Steve the whole banking systems completely -- you can't sneeze and one place and -- -- -- -- over here.
Feel a thing for us -- we've actually seen oil prices cooled down slash enjoy that for a moment but I'd much rather see robust economy and than what's gonna happen with going on -- Isn't -- currently.
We are looking to Asia really excellent group wants our business in it yeah.
I -- -- -- I mean this is a tremendous amount of well being created there and I think as all businesses can look to.
Markets outside of our own economy to grow our businesses and to grow shareholder value and certainly.
That's that's we've done -- Clues can we have Korea how much muscle do we have to sort of help your -- before it even message enormous impact on us.
-- -- who's just didn't give someone involved not just be spectators.
Well the the one good thing would be to give some sound advice and that is for all the talk of cutting back government they haven't done but even more importantly.
They're piling on new taxes on the private sector Spain they raise the rate to 52% on personal incomes.
So as a result the same goes in the spiral they start going down pile on more taxes they go down more banking system gets weaker to death spiral we -- Good advice we can give -- stop crushing your private sector you gotta grow again guys.
You mean anything their reasoning to 55% last year and they they generate less revenues and everybody was surprised.
So we did not just in this -- proper -- -- -- I -- -- -- what Orleans -- about Europe.
I hope that there following are good example 11 good thing when Reagan cut taxes in this country in the early eighties with bipartisan support.
-- the next decade fifty countries followed our example.
Including them semi socialist Sweden which is -- tax cutting paradise Canada did the same thing -- in good shape today.
-- And it's all about speed of action and I think that Europe has got to be able to act fast in the United States I think clearly.
Whether it was the best solution or not they acted fast as it took action I think Europe if they don't take action.
I'm and they -- too political and it's going to be the problem.
Do -- we traveled.
I mean I think they need to break of the EU.
That's what -- break at the.
You did not return and he you know we're a -- that the Germans -- artists of the receive your doesn't have to -- -- -- a -- -- policies and it was so.
What -- on your hands whenever it's like -- got to get rid of Illinois and California that fast.
And again it's even better than 91 of your music didn't satire like a bailing out Greece.
And -- have a definite choice and I asked them if they feel like parents you know one of these kids gonna grow up.
