An article in the European Voice by Hans Martens (subscription required), chief executive of the European Policy Centre, recently caught my eye by strongly arguing that EU economies are in a good shape.

Martens’s article focused on a study by the Economist Intelligence Unit and the Columbia Program on International Investment which showed the EU attracted nearly three times more foreign direct investment (FDI) then any other economic area.

In 2006 417billion euros of FDI was put into the EU, compared with 150billion going to the US, 13,5billion to Brazil, 17.5billion to Russia, 7.96billion to India and 69.25billion to China. Better still, it is predicted that Europe will maintain this considerable level of FDI in 2010.

Martens also highlights the World Economic Forum’s competitiveness index which again shows how strongly EU economies are performing, despite the commonly held view they are struggling. The index is based on both short-term growth prospects and potential for sustainable long-term wealth creation. Nine European countries are in the top 15 with the likes of Brazil, China and India well down the list.

The doom merchants have long been predicting trouble for the EU's economy, particularly for those countries in the eurozone, but in fact Europe is attracting massive investment and is well positioned to maintain its strong position in the long-term future.