Subject: Re: [BoundaryPoint] Gibraltar<br/>
Date: Jun 10, 2004 @ 16:00<br/>
Author: Kevin Meynell (Kevin Meynell &lt;knm@...&gt;)<br/>
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<br/><br/>
<div id="ygrps-yiv-482991404">Lowell/Mike,<br/>
<br/>
<blockquote><span title="ireply"> &gt;While the contortions of the EU as to what and where their various rules <br/>
&gt;do and do not apply are quite amusing to us Americans<br/>
<br/>
 </span></blockquote>One thing I forget to add, although I appreciate we&#39;re starting to get <br/>
off-topic here...<br/>
<br/>
The fundamental reason that many of the European overseas territories were <br/>
excluded from all or part of the EU, is that they&#39;re invariably small and <br/>
do not have diverse economies, not to mention that some have closer <br/>
economic ties to other regions (as with Bermuda to the US). They therefore <br/>
rely very heavily on the likes of tourism, offshore banking and/or fishing <br/>
which would be far less competitive if they were subject to full EU <br/>
legislation. The parent countries (with the possible exception of France), <br/>
have generally been of the opinion that encouraging self-sufficiency more <br/>
than outweighs any loss of tax revenue.<br/>
<br/>
Regards,<br/>
<br/>
Kevin Meynell</div>