Not an Economist but it seems to make sense that, reducing reliance on foreign providers to Europe will generally mean an increase in cost to the locals. But if they don't do it there will be less jobs going forward, the economy will shrink, currency will devalue and foreign products will be more expensive anyway? Protectionism has proven to be wrong in the past, but globalisation grows developing economies at the expense of mature economies. All the manufacturing went to the east and now more and more service jobs are shifting that way. China and India are becoming more competitive at everything what will be left a generation from now in the West without protectionist 'buy local' strategies?