One Europe

Europe’s disasters were caused from its division to so many independent political entities stacked in their concept of political independence. This division always served only the ruling elites, as they instigated for hate and conflicts to legitimizing their rule. At the end of the day what all these wars in Europe were about? From today’s perspective nobody can find justification for these wars, that ended less than 70 years ago. Europe is slowly and surely losing its significance as economic and political power on the world stage, if it wants to defend some of its declining significance, and secure decent standard of living for its aging population, it has to create one united political structure. The Euro Zone crisis started to push the events to right direction. What happens now, is a lesson, that the politicians had to learn, that with common currency, there has to be one coordinated fiscal policy, meaning they can’t play for ever the play of economic sovereignty. We are still far from having in Europe one federal budget department, one economic legislation and one taxation. I just hope, the leadership of the net lending states will have the strength not to give up their demands to lessen the economic sovereignty of the individual states in the EU. Those who call to oppose this trend are looking for very, very short term goals. Since today it is hard even to remember the Irish rejection of the Lisbon treaty that happened at June 2008, I am rather hopeful for EU.

Answer to;

http://krugman.blogs.nytimes.com/2012/05/28/mundell-and-the-euro/?_r=0