….Why? Because, although Britain is likely to stay in the EU, Brexit will remain a live issue unless the eurozone can sort itself out. That means either admitting that the euro has been a terrible mistake, or going the whole hog and integrating further, with a single banking system, a Europe-wide treasury, and a democratically elected finance minister with the power to raise money in Germany and spend it in Greece. This is not going to happen any time soon, and perhaps never. Countries that joined the eurozone gave up a considerable amount of economic power when they adopted the euro, but they retained the right to raise their own taxes and make their own spending decisions.
Britain is not in the euro, for which we should all be thankful. But let’s be clear: staying in the EU means hitching the wagon to a currency zone unable to go forwards or backwards, and which will continue to struggle as a result.
The euro brought to fruition the idea of ever-closer union, a plan that dates back to the early 1950s. Lots of things considered good ideas back then are no longer considered quite so clever: system-built high-rise flats as the answer to slum housing; nuclear power to meet energy needs. Put ever-closer union in the same category as the Birmingham inner-city ring road: it seemed a good idea at the time…….
- Modern Money and the Obsession Over Fiscal Consolidation
- Roy Jenkins and Tony Benn debate : The European Communities membership referendum, 1975 – Panorama
- Drain Le Swamp
- Put your pussy hats on
- Brexit: the end of an error
- Joan Muysken Lecture: “The Eurozone, Groupthink and denial on a grand scale”
- On ikka kuradi fašistid
- How many poor?
- Ajastule sobivat muusikat
- Public Debt In The Eurozone: A Political Problem
- Šoti vasakpoolsed natsionalistid tahavad Šotimaast kreekasarnast EL-i kolooniat teha
- Trump Saltmining Inc.
- Poland warns of disunity across the EU after Donald Tusk re-elected European Council president
- Trump on keeldunud Reagani majanduspoliitikast
- Head rahvusvahelist naistepäeva
- Kohutav, Taani kannatab täistööhõive ja tõusvate palkade käes
- Euro saatus otsustatakse tõenäoliselt Itaalias
- Vasakpoolsed julgevad ainult Merkeli selja taga rääkida
- The European Union Trembles
Seda blogi vaadatud (60 sek hilinemine)
- 197,096 korda