Euro - The game is up!

leveller2911

toby3000 wrote: »

I don't really see what POINT he made in the speech? He thinks the Euro will collaspe. I think he's wrong. America copes with a single currency and a country of different local/state economies. You could easily argue that it would be more economically appropriate for London/the South East and the rest of the UK to have seperate currencies.





All states in the USA see themselves as Americans 1st and states 2nd in Europe its opposite ,even the Germans see themselves as Germans 1st and Europeans 2nd and All the EU countries are the same.

Make no mistake the accession countries join the EU firstly for the financial grants they receive and secondly the single currency.You only need to look at Ireland and Spain who's infrastructure has had €billions pumped into it.


I'm waiting for some feedback from a couple of German friends on the grass roots sentiment...In the past they seem to have the same views as the British public so I would think their views have not changed.........

This Social engineering project was introduced by the political elite who may be highly educated but no common sense whatsoever and now its gonna bite em in the !!! and cost the average man and woman a bloody fortune.....I have very basic grasp of economics but even a thicky like me could see the major fault in the Euro.....without fiscal union there is NO future for the Euro;)

A._Badger

toby3000 wrote: »

Try telling that to Americans. It has a single national government, but states have huge powers. Besides having a single language. it has no more of a 'uniform culture' than Europe does.

The reason that American's think of themselve so strongly as Americans is that they've had a couple of hundred years of social engineering to achieve it, and is why they do things like Thanksgiving and pledgeing alligence. No different to the concerted effort made by European nation-states in the 19th century to create a natioanl conciousness.

Germany doesn't use a federal system 'after a fashion'. It is a federal country with a huge amount of power at the level of the Lander.

Thank you for the (quite unnecessary) lecture on the USA. If you believe, as you write, that "...it has no more of a 'uniform culture' than Europe does." then you lack any understanding or experience of the USA.

Either that or an extremely strange view of the differences, culturally, linguistically, economically, historically and politically between the fractious assembly of pit ponies, shire horses, race horses and donkeys yoked together in the failing Euro project.

Of course, such a delusion is precisely what led to the creation of this Frankenstein currency in the first place - and what doomed it from the start.

Generali

The major difference between the Eurozone and the USA is that if you lose your job in Detroit and find one to apply for in Delaware you can speak the language in the new area you are applying to. You can fill in an application form, interview in your mother tongue and so on.

If however you lose your job in Dijon and want to apply for something in Dudley you have a whole series of problems that just don't apply in the States.

tomterm8

Generali wrote: »

The major difference between the Eurozone and the USA is that if you lose your job in Detroit and find one to apply for in Delaware you can speak the language in the new area you are applying to. You can fill in an application form, interview in your mother tongue and so on.

If however you lose your job in Dijon and want to apply for something in Dudley you have a whole series of problems that just don't apply in the States.

Well, yes, but there are a number of countries where there are two or more official languages, where some residents may not be able to speak the language of another region in their country. Actually, this is even the case in the UK... there is more than one British language.

I think the language problem is a factor, but it isn't the defining difference. The defining difference is that the US is a nation. The constitution empowers one body, Congress, to regulate commerce including banking; that the US consequently has federal mechanisms for dealing with banking crises, emergencies, and can carry out internal balance of payment balancing via transfer payments, and that the US has mechanisms for enabling state bankruptcy: people know if they invest in California (a larger size economy to the UK) it is not the same as investing in a Federal bond.

The EU is, in fact, not a country: it is a currency union between states that is more similar to the gold standard than the US dollar.

Herbie_Hancock_I_wish

Did I hear that right? Portugal has debt that is 325% of it`s gdp? Sounds serious to me.

lvader

Herbie_Hancock_I_wish wrote: »

Did I hear that right? Portugal has debt that is 325% of it`s gdp? Sounds serious to me.

No it's around 85%.

toby3000

A._Badger wrote: »

Thank you for the (quite unnecessary) lecture on the USA. If you believe, as you write, that "...it has no more of a 'uniform culture' than Europe does." then you lack any understanding or experience of the USA.

Either that or an extremely strange view of the differences, culturally, linguistically, economically, historically and politically between the fractious assembly of pit ponies, shire horses, race horses and donkeys yoked together in the failing Euro project.

Of course, such a delusion is precisely what led to the creation of this Frankenstein currency in the first place - and what doomed it from the start.

My understanding of the USA is based on knowing lots of Americans from lots of different parts of the USA and they're completely different attitudes to the state, to the USA and to Europe and the differences in their attitudes to religion, in what foods they eat etc.

When you talk about the 'historical' differences in Europe, which history are you refering to? The history of Europe based around the Mediteranian basin, the history of Europe split between Catholic and Protestant, the history of Europe uniting against Islam, the history of Everyone vs France or Everyone vs Germany or the Holy Roman Empire in Civil War, or Austria and Prussia at war, or Austria and Germany uniting, or the history of the ideal of European unity from Rome to Charlemange to Charles V to the EU? History can mean anything you want in Europe.

Maybe I didn't make myself clear; when I say it has no more of a uniform culture than Europe than the US, it isn't because I think that Europe has a unifromity of culture, it's because I recognise that any nation-state is an entirely imagined community of people. There are people in France, Germany, Russia or the USA that I have more in common with than people who grew up in the street next to me. Any nation is an artificial construction.