"Why did you create the EU to begin with?"
I mean, it sounds like a good idea, a common currency, open borders, and one big trading bloc as opposed to 20 - 30 little ones. On paper, it looks great but everybody I talk to now thinks it's a bad idea.
They all bitch about the open borders. All saying that the people from the poorer countries of the EU come to ____________* and take ______________** jobs and use up resources and the social safety net meant for ____________** people.
They all bitch about the economy. My _______________** friends say that ____________* is far more productive than the ____________*** and the ____________** economies are always being looked to for money to keep ___________**** afloat.
They all bitch about "multicultualism". We are losing our _____________** identity because all these people from ________________**** are coming here, not speaking the language, changing our way of life, and looking for a handout. Either that or the ___________*** come to ______________* and steal everything they can't get for nothing from Brussels/Strasbourg.
They also have no use for the central government in Brussels/Strasbourg. I hear Brussels/Strasbourg thinks they can make the rules and decisions for _____________ * when they have no idea of how they hurt business in ____________* in order to help ___________****.
I ask this question again in light of Dr. Krugman's post yesterday:
The US 10-year bond rate is now down to 2.5%. So much for those bond vigilantes. What this rate is saying is that markets are pricing in terrible economic performance, quite possibly a double dip. And it also says that Washington’s deficit obsession has been utterly, totally wrong-headed.
Meanwhile, Italy’s spread against German bonds is soaring even further. What are markets pricing in here? Default as a real possibility; maybe even euro breakup. The latter certainly sounds a lot more plausible now than it did a few months ago. [my em]
So if, as it seems, a number of countries are going to abandon the Euro and move back to their old currency so they can manipulate themselves out of debt, what was the point in the first place? Didn't anyone take the differences between cultures into consideration before they all jumped on the bandwagon?
I never put much faith in the longevity of the European Union, though I thought I wouldn't see the end of it in my lifetime. Yes, they looked West after World War 2 and saw a pretty good system. What they didn't get is that the people who founded the United States were basically all in the same boat. They were mostly disaffected Englishmen wanting to break the hold of King George on the colonies. It never seemed to me you could do the same with diverse cultures (with ingrained biases), all millennia old. Maybe, in a century or two, we might be enlightened enough to move to worldwide governance, but old habits die hard. The EU might live on in some form or another, but if the economy keeps tanking, it's gonna be every man for himself over there sooner rather than later.