Friday, December 11, 2015

The Euro is a project of idealists. But idealists live in a hypothetical world - a place where they desperately want to be, not where they are...This latest move (one of sheer desperation) to prop up the Euro as well as the Eurozone will achieve absolutely nothing, especially if you consider every other move to protect it so far has been remarkably unsuccessful and only achieved economic chaos within the Eurozone, with peripheral effects on the non Eurozone countries within the EU. The EU leaders and the leader of the ECB have learnt nothing from previous experience and simply continue in the same old ways. Far better just to let the Euro go, and return to the former currencies. One size hardly ever fits all, something that is very clear with the artificial political construct that is the Euro.
"Policymakers could have used that period to address the structural reasons for high levels of unemployment, and a lack of flexibility in other markets, he argued. "They could, but given that they (the European Commission) are the most structurally inflexible, bureaucratic, and control and red tape obsessed of the lot (remember "Brussels spouts" ?!), and given that Turkeys never vote for Christmas, they are simply incapable of doing this!  The only hope for all of Europe is that they are effectively abolished from without by one country after another leaving their club to the point where even they have to recognise - once their empire has contracted right back to just those ghastly communist-looking buildings in Brussels - that their raison d'etre has vanished.

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