1) The EU debt crisis – when ECB becomes lender-of-last-resort we will see 10 figure move lower.
2) Relative growth differences – The US is more dynamic and with only “one master” . – i.e. Congress vs. Europeans 27 members and lacking fiscal union.
3) Competitiveness. US will able to compete on labor costs with close to 20 pc real unemployment and incoming tax incentives.
4) HIA – Homeland investment Act – as stated above the Super Committee is trying to get a reduced tax of 5.25% in place.