For a continent with a masochistic penchant for regulation, Europe is oddly not very good at crafting it. Over 2,500 new legal acts come out of the European Union machinery in any given year, or roughly one every hour of every working day (the summer offers some respite, but not much). A belated realisation that this regulatory fire-hose may have dampened growth has resulted in a slew of recently adopted EU rules being sunk before they have even been set afloat—to the delight of companies dreading being submerged in yet more red tape.