2003-01-06 Realistic, my foot! This is nothing more then sour grapes. This type of dribble has been in and out of print since it was announced the EU was going to create a common currency. All of the "experts" kept and still keep prophesying its doom. They want the euro to fail and they keep spouting failure so much they actually believe it is going to happen.
Here is a real piece of crap: The problem with any currency union is that you have to impose one-size-fits-all monetary policies on quite diverse economies. For example, Germany's high unemployment and low growth call for low interest rates and deficit spending at the moment, to get its economy moving again. Ireland, with low unemployment and high inflation, needs exactly the opposite to cool its economy down. But the new European Central Bank must set the same interest rate for Ireland, Germany and all the other euro-zone countries. Well, isn't that what we do in the US. We have a common currency and a "one size fits all" policy, even if some states or regions are poorer then others. Why don't we dispose of the dollar and have each state have their own currency and economic policy? Because their is greater strength and power in having a single powerful currency and economy. The US knows it and so does the EU. The author of the article is British. Obviously this persons is one of those who ashamed of the fact that Britain is no longer a world power and can't stand the fact that EU will be what Britain once was. Down that road, if it is travelled to the end, lies the United States of Europe. We all know that! That's old news. Who really fears a strong United Europe? My guess would be the US who doesn't want an equal on the world scene and the British who see a united Europe as the last nail in the coffin of what was once the British Empire. I just wonder what these people are going to do when their dire predictions don't come true. John > > For a view of the Euro a bit more realistic than the "European good, > American bad" view of John, read the editorial published today at: > > http://www.sltrib.com/2003/Jan/01062003/commenta/commenta.asp > > > Jim Elwell, CAMS > Electrical Engineer > Industrial manufacturing manager > Salt Lake City, Utah, USA > www.qsicorp.com >
