Europe's leaders are 'in profound denial about the grim realities of theglobal marketplace' says businessman and Channel 4 chairman Luke Johnson. While the Chinese work 24-7 to build the modern miracle of China, the EU busies itself trying to stop the Brits working more than 48 hours a week, even if they want to.

China is huge. And super-competitive. For 15 years, its economy has grown 2-3 times faster than the UK's. There has never been such an economic transformation: it has lifted 250m people out of poverty and turned them into economically active competitors for us. It is hard to see what industries we will be left to compete in:

Hamstrung by preposterous regulations, high taxes, a burdensome welfare system and anti-business legislation, how on earth are we to retain our standard of living?

But EU leaders, rather than unshackling our entrepreneurs to stand up against this onslaught, do the opposite. 'They have lost the plot,' says Johnson. 'They are dangerously deluded.'

Like companies going broke, countries slide into recession at first slowly - then violently quickly...I recommend readers to prepare themselves for a rough ride.