Posted on 12/21/2010 2:57:25 AM PST by Scanian
The recent riots in Athens, London and Rome signal rising insecurity and uncer tainty within the European Union. The most profound and widespread challenge is the growing sense that the EU's common currency, the euro, may not survive in its present form, if at all.
The obvious reason is that, as a matter of economics, the euro project gives surrealism a bad name: A currency without a government was always doomed to fail. Now, there are only two choices: 1) Abandon or dramatically shrink the euro concept, or 2) increase the powers of the European Commission to oversee -- and where necessary de termine -- national tax and spending decisions.
A cynic would say that this crisis was pre-planned -- anticipated years ago as a convenient trigger to create the ever-more-centralized EU government that its advocates could never have achieved openly.
Certainly, the euro has always been primarily a political project, rather than an economic one -- a rationale that justifies US indifference to its fate.
If the Europeans want it, that's up to them. They're perfectly entitled to try to create an alternative to the US dollar as the world's reserve currency and to be another Western "pole" in world affairs. But we are equally free to let it fail.
(Excerpt) Read more at nypost.com ...
Let the new Congress lift one finger to save the EU---or start bailing out states like California---the formation of a third party will be an absolute certainty.
Enough already!
There should already be a third party, one representing Americans rather than elite global corporatists.
You are right on this. The Euro is a fictional construct of the Euro Socialists. One good thing about its eventual collapse is that people will move their money to a more stable currency like the Swiss Franc................or the good old Dollar.
Down with the Robber Barons?
Wow! looks like “make believe” is about to fail...
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