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Old 21.11.2018, 16:14
greenmount greenmount is offline
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Re: The Brexit referendum thread: potential consequences for GB, EU and the Brits in

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In Italy, real incomes have fallen since joining the Euro, whilst inequality has risen, together with their pile of debt. Italy are prevented from applying the fiscal measures that they wish to because the EU won't sign off their budget.

Then you move onto the real problem with the Euro, which is how to set monetary policy with a one size fits all philosophy when you have so many different economies to consider? You can't, which is why it'll either eventually fail, or several countries will fail in order to keep the Euro going.

Just because people like it, which remarkably still holds true, it doesn't mean it's a good thing. If anything will end the EU, the Euro will likely be it. The flip side is that in order to make the Euro work, more Europe is needed (banking union, adjustment mechanism between countries, common tax). Which is why Margarete Thatcher was right when she said the Euro was just a back door way of creating a federal Europe.




Well if they're paying all the money for NATO, why shouldn't they call all the shots?
Common currency is meant to facilitate trade, freedom of goods and capital. Italy has developed a lot due to common agricultural policy and structural funds, same as Spain, Portugal, even Greece. Did you know the infrastructure these states had before EU? I tell you, far from current moment. Many Italians are aware of how far they've come, some others are attracted by the new political movements. Not totally unreasonable, but there are still people who remember. To be honest I am so lucky to have met humble Europeans, thought they're an endangered species. I don't know if EU still serves their needs as before, but to blame EU for everything that doesn't go well now....
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