Quote Originally Posted by Kralizec View Post
In theory they could have been disciplined a long time ago per existing EU criteria, but this has largely been an empty threat precisely because of the sovereignty-fetishists.
No, because of precedent. Both Germany and France ignored the Stability and Growth Pact and got away with it. Now everybody else ignores it and gets away with it.

The Pact wasn't tenable anyway, given both its anticyclical nature and the divergence of the economies concerned. But heaping lawlessnes upon stupidity hasn't exactly produced superior results, has it? And I refuse to accept your logic that we can resolve this mess by adding blindness to the equation.

AII