Quote Originally Posted by Adrian II View Post
Uhh, hit me

Well, I don't think the EU is first and foremost about economics. And it certainly isn't first and foremost about a common currency. Remember we got along well without one for 50 years. Most of the present eurozone economies would be much more competitive without the euro; the weaker ones would be able to devaluate and the stronger wouldn't have to bail out the weaker ones in the midst of a recession.

Most importantly, each country would retain (or regain) its sovereignty. Further centralisation according to the Merkozy plan would mean putting half a dozen member states under guardianship of an outside agent, i.e. the ESFS or so-called 'future European IMF'. It would spell the end of democracy for these countries since the richer member states would propose to them a deal akin to the one Athens proposed to the Melians.



I think it might enable Europe to re-unite. It is deeply devided now, if you hadn't noticed, and Merkozy is stretching it to breaking point. Any more of this and we will be looking at encampadas throughout the continent. And as much as I hate camping, I'll be joining them.

AII
Is the EMU currency itself the problem, or the half-assed institutions that surround it?

Arguably, the current problems would have been a lot smaller if we had a Stability & Growth pact that contained more realistic criteria and was properly enforced.

The EU government structures need to be rebuilt, in my opinion in the likeness of the German government. A Bundestag composed of European parliamentarians and a Bundesrat composed of representatives of the national governments. A proper government who answers to, and can be sacked by the Bundestag. A clearly defined group of tasks in which the EU is competent, the rest being the domain of the national governments.