> So, we absolutely can get stuff done, [but ...]

But you have to keep in mind that this is the same as not being able to get stuff done :) Economies don't exist in a vacuum.

If a US company can buy an EU company out,

* business conditions in the EU are not favorable enough for people to want to grow their business in the EU (they would rather sell to the US);

* there are no EU companies that are competitive enough to counteroffer (meaning the EU has not created an environment to grow competitive businesses).

"Getting stuff done" isn't determined in a vacuum, so unless the EU totally isolates its economy it has to deal with the fact that it needs to actually encourage innovation and business to be competitive and "get stuff done" on the world stage.