Well, yes, but

Mr Moscivici said: “The euro is already a symbol of unity and a guarantee of stability for Europeans. We now need to make it a vehicle for shared prosperity.”

It’s not actually very stable, is it, vide Greece.

And the structure is just entirely wrong to produce prosperity. Only a couple of problems there.

13 thoughts on “Well, yes, but”

  1. “A move towards more risk sharing, although the EC insisted that debt mutualisation and fiscal transfers were not part of Brussels’ plans.”

    Well, without that you can forget all about stability and prosperity. But we’ve been here for a decade and a half haven’t we. If it hasn’t changed yet it never will.

  2. Bloke in Cornwall

    I really want to take a visit to the world that most politicians live in, it sounds lovely… What do you need to get there? Do they all wear augmented reality headsets that overlay smiles and happiness everywhere??

    I’m sure the people of Greece would love to go there along with quiet a few Spaniards, Irish and Portuguese people!

  3. The Meissen Bison

    Pierre Moscovici is flying a kite and Angela Merkel or Wolfgang Schäuble will cut the string: one only has to look at the successive and counter-productive punishment beatings inflicted on the Greeks to understand that the euro is heading for the buffers and ultimately a spate of sovereign and bank defaults is inevitable.

  4. TMB

    Not necessarily. The Greeks’ problem is that they are too small and too weak to matter – thus the punishment beatings for them and the Cypriots. Political expedience may lead to the Germans wavering on the use of the credit card if the Italians end up on the rocks. Italy is too big and it really matters. That said the German people really are not keen on bailing out their feckless Southern neighbours, so we’ll have to see.

    Merkel is very stupid and very short term. She might give in if she thought it was that or the end of the EU.

  5. The Inimitable Steve

    Slightly OT, but sort of related, I can’t get enough of The New European. It’s like reading old issues of Signal magazine and being informed there’s just no way the foolish Britishers can resist the might of the Luftwaffe.

    Apparently, despite voting to leave the EU, we’ve no hope of “wriggling out” from paying our “share” of its budget:

    EU unity on Brexit is reinforced by the knowledge that they control the negotiations agenda. Being in command of the process limits the impulse for bickering about tactics among the EU member states and institutions. Regardless of Brexiteer bluster, Britain is the much smaller party and far more dependent on trade with the EU than vice-versa.

    And we should stop being proud of winning two world wars and stop thinking the Germans are our opponents, because ackshually:

    On the contrary, it is most Germans’ heartfelt wish to see all the nations of Europe – including their own – dissolve at last into a truly European identity.

    Every day produces unintentionally revealing nuggets like these, which are far more insightful to the Remaniac mind than anything you’ll read in the normal press. It’s like an advent calendar filled with little chunks of Europoo.

    I highly recommend it.

  6. “On the contrary, it is most Germans’ heartfelt wish to see all the nations of Europe – including their own – dissolve at last into a truly European identity.”

    The “New Europeans” just hate their nation states and their own people, and want to toss them away for some ersatz junk.

  7. The Inimitable Steve

    Rob – right?

    And isn’t there something fundamentally creepy and, well… unwell about wanting to “dissolve” your own country and meld it with others, like Jeff Goldblum stepping into a teleportation machine?

    I’m slightly tempted to wax Majorite about cricket on the Cotswolds village green, nuns cycling through the mist, Geordies dogging under the Angel of the North and whatnot, but I will resist. The culture and traditions and diversity – real diversity, not the kind that sneaks across the Med for handouts and fiki fiki – of Britain and Europe is priceless.

    Imagine being so jaundiced in the soul that you could look at that and think… “Nein. Let’s get rid.” It’s not quite human. It’s as if they think we’re fungible cogs in some monstrous machine: a Sicilian is a Shetlander is a Silesian is a Syrian.

    They look at our labour and laughter as a tired man looks at flies.

  8. Telling isn’t it? They start with the idea it is a ‘symbol’, and then work towards trying to make it something worthwhile.

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