BBC NEWS
"Europe 'losing competitive edge'
French President Jacques Chirac, German Chancellor Gerhard Schroeder and British Prime Minister Tony Blair
Europe's old guard are losing out to their younger, livelier rivals
Europe's major economies are continuing to lose their competitive edge, according to a global business survey.
Britain, Germany, Spain and France all dropped in the rankings of the World Economic Forum's (WEF) latest global competitiveness report.
Nordic countries again dominated the survey in 2005, with Finland remaining the most competitive country for the third year running, the WEF said.
It was followed in the rankings by the US, Sweden, Denmark and Taiwan.
Iceland and Norway are also in the top ten, while Australia has reached that rank for the first time."
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