Pedigreed European brands from Rolls Royce to BMW, from Armani to Marks and Spencer - all evoke awe inspiring respect and admiration.

These brands, marketed globally by a horde of European MNCs, also got visible support from governments in Europe under the premise that the larger these iconoclastic brands and MNCs grew, the more would grow Europe’s employment base. But as has now been evidenced empirically, contrary to common perception, MNCs and such brands have really not turned out to be the proverbial gold mines for European economies.