Nutty EU bureaucrats, butthurt over the Brexit vote, propose abolishing countries

Click the link in the post and read it

It was leaked to Polish newspapers.

They'd have done a lot better at it if they hadn't inflicted a currency designed for Germany on them. Without that, it would have been a simple matter of progressively improving their economies with smart regional policies and introducing better government and anti-corruption measures.

It doesn't matter who the currency was designed for, any single currency would ahave failed because of the extreme lack of economic convergence of the eurozone (different business cycles, different labour costs, different housing markets, different banking systems, different fiscal positions etc). You just can't harmonise economies that different--Italy (which hasn't grown since 2000) can never be Germany. Plus you can't get rid of corruption from the outside, it is a result of a country's political culture, if it were possible Africa would be a very different place right now.

It is good to see interesting posts.

Many of those points were made by the IMF when assessing the UK's suitability for the Euro.

The reality is that it expanded far too quickly with little thought. At the very least, there has to be a massive increase in fiscal transfers across the Euro because the Germans are sucking the life out of the rest of the major members of the Eurozone ( IE France, Spain and etc)

History is too triggering for them. They prefer fantasies.

Big problem, fiscal transfers from whom? Germany would not be able to sustain the level of transfers to France, Italy and Greece. If it is somehow sustainable economically, it certainly isn't sustainable politically. The country still hasn't recovered from having to transfer to East Germany following reunification, this is why Germans are very suspicious of bailing out the Med countries because they fear it will never end. It will never end especially if you're dealing with a leaking bucket like Italy which simply cannot grow, is insanely corrupt and incompetent and which finds it impossible to collect enough of its own taxes--Italians are some the biggest tax avoiders and evaders out there--it's an art form in that country.

Do you wonder why the USA is much more powerful than Europe, despite Europe's greater population and GDP?



Obviously it'll take a long time (and I agree the euro project has been very rushed, it should have happened much slower), but it is obviously possible for them to catch up; many Eastern European states, e.g. Poland, have been consistently outgrowing Western ones, even with huge emigration, huge demographic problems, and still a lot of corruption

I've studied the EU, and I don't like what it does as organization on principle. This does seem like something I'd expect from them. The Euro itself always seemed to me like a subtle attempt at eroding national identity. This would seem to be a logical next step.