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We need to kick start the internal consumption in the EU Member States. And fast. It doesn't make any sense to export cars and accept US federal bonds in exchange for it. These bonds are useless, because they are used to finance projects which are in opposition to our interest (see US military spending, Congress appropriations for the war in Iraq, etc.pp.).
Why should we finance the debt of the US, when we could use the same amount of money to finance our consumption and debt at home? It would be more beneficial if we used it to create jobs in Europe.
Now, a stronger EU economy would clearly attract even more foreign investments (more jobs), we could raise our imports from third world countries (more jobs), which would again further strengthen our currency, and even more foreign central banks would keep even more euro denominated reserves (cheaper money for us, lower interest rates, and huge windfall profits for the ECB).
It is easy, really. We just have to do it and forget about bickering about trivia like the CAP. We need a European Development Programme which is worth the name of it. And - obviously - politicians with 'palle quadrate'. "The USA appears destined by fate to plague America with misery in the name of liberty." Simon Bolivar, Caracas, 1819
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