The debate in Brazil on the future of Europe is still superficial, but has a particular concern for the impact the crisis will have on its growth rate. There have been adjustments in the expansion plans of Brazilian companies that were already operating in Europe before the crisis began, and many other Brazilian multinational corporations have gone bargain hunting in Europe. Europe is still not considered as friendly place for business as the United States, Japan, or even China. This has diverted Brazilian investments and companies to other regions where regulations are less burdensome. A more pragmatic approach is needed to establish rules enhancing competitiveness in the European labor markets, with easier immigration rules to attract foreign talents. While the new Brazil is not entirely dependent on Europe for its future growth, Brazil should look to Europe as a vital partner in building the new world order.