Reform of the Euro Area

The will be much EU-level discussion of economic governance reforms in the next couple of months. This week’s issue of The Economist provides a briefing and an editorial on the topic.

4 replies on “Reform of the Euro Area”

‘One way to keep them awake would be to retain the possibility of sovereign default, and work out an orderly procedure for restructuring a euro member’s debts if they become insupportable—as may still happen for Greece or even Ireland. If a euro-zone member can default, the chances are good that investors will impose tougher discipline on any country with excessive debts’

So we may default. Shouldn’t it be: our banks may default?

By weakening those who oppose greater integration, the greater good of integration will be served. Those countries that cannot withstand such economic attacks are clearly weak and need to be protected inside the greater Roman Co-Prosperity Sphere.

Germanification. The Holy Roman Empire was mainly German for centuries, anyway. If it can be properly secularized, under UN Declarations, then why not? Sovereignty is clearly wasted on gombeen and their kind. Interest rates will rise from German levels, but fall from Irish ones. Wasn’t that the point of joining the EZ?

Oh, don’t worry, there will be no housing boom this time!!!!!!

The EU, like the Holy See, is an observer at the UN, not a member; also has not and probably will not ratify or implement any UN agreements/treaties/documents. Instead we have the Charter of Fundamental rights and the ECJ.

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