CEI Today: Battered Business, the Euro Crisis, and Italian Labor Reform


OpenMarket.org: CEI's Battered Business Bureau

It was a short work week because of the July 4 holiday, but 71 new final rules were still published, down from 101 the previous week. That’s the equivalent of a new regulation every 2 hours and 22 minutes — 24 hours a day, 7 days a week. All in all, 2,055 final rules have been published in the Federal Registerthis year. If this keeps up, the total tally for 2012 will be 4,001 new rules.




CEI Web Memo -
Freeing Europe From the Euro


German Chancellor Angela Merkel has stated repeatedly that there is no alternative to the euro. She is right—up to a point. Today, people inside the euro zone do not have any alternative to the euro for an all-purpose currency, but that is because governments have barred any alternatives.


Chancellor Merkel and many other European leaders want to defend the euro at any price, calling the single currency the foundation for the rise of a “United Europe.” The opposite is true. The euro is, in fact, one of the major causes of the problems besetting Europe today. And things could still get worse. Maintaining the currency union in its present form may cause the breakdown of Europe’s single market over the long run.


Is there a solution? Yes. The basic principles of the common market could save the European Union, if they were applied to monetary policy. Europe’s currency future lies in competition.


>Interview CEI Analysts on the Euro Crisis



Italy Kicks the Can on Labor Reform


In a letter to the Wall Street Journal, Melchiorre writes:


In “Italian Labor Minister Works on Cultural Shift With New Law” (June 26, 2012), Christopher Emsden writes that the reform championed by Italian Labor Minister Elsa Fornero has “dismantled” the centerpiece of Italy’s rigid labor law and signals a cultural change towards a meritocratic workforce. Not so.


Although firms may now fire workers in times of financial distress, businesses must prove their financial straits to a labor judge. Firing takes 696 days on average.


It is still illegal for firms to fire employees for incompetence. And the law still explicitly faults the firm for poor worker performance, not the employee.



CEI is a non-profit, non-partisan public policy group dedicated to the principles of free enterprise and limited government.  For more information about CEI, please visit our website, cei.org, and blogs, Globalwarming.org and OpenMarket.org.  Follow CEI on Twitter! Twitter.com/ceidotorg.