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What Is This Weird Balloon For

the state of europe

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Over at the Browser, Anatole Kaletsky discusses the future of capitalism:

Everybody now recognises that the euro can only survive as part of a political project to create a new federal Europe. This was the point that many of us who were Eurosceptics were making in the early 1990s. It was also the point made by true europhiles back then too. [The former president of the European Commission] Jacques Delors, the most prominent among them, always described the euro, when he invented it, as the most decisive step towards political union. But for the next 20 years, the connection between currency union and political union was disregarded as an issue for the long-distant future. Well, we’ve now reached the historical crossroads where Europe must decide: Does it become a political federation and keep the euro? Or does it remain a community of independent sovereign states, in which case the euro has to be abandoned?

 

The United States will have to make the same type of choice someday, political polarization cannot continue indefinitely.

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Written by geek

03/06/2012 at 6:00 am

Posted in politics

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