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How Europe is Drowning in Wine - LEO CENDROWICZ
There is nothing like a Bordeaux, a Chianti or a Riesling to evoke the taste and scent of Europe in a wine glass. The problem, according to the "wine lake" cliché. is that the continent is swimming in the stuff, thanks to E.U. farm polices that have sought to keep prices stable by stockpiling unsold wine. The current unsold inventory now adds up to more than a year's production — enough to fill 8,000 Olympic-sized swimming pools.
Next week, however, the European Commission hopes to begin draining the lake by overhauling the subsidies and quotas that have spurred overproduction, widely recognized as untenable for Europe's winemakers and its taxpayers.
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