Quote:
Originally Posted by Ex-CEO
Maybe.
But with all due respect, the EU is more than capable of destabilizing itself!
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It all started way back in 1957 as the European "Common Market". Back then there were just 6 founding members - Germany, France, Italy, Belgium, Netherlands and Luxembourg. As a customs union, its goals were modest. It mainly focused on lowering tariffs and promoting free trade among its members. As a result, it was quite successful in speeding up the postwar economic recovery of Western Europe.
Today the EU has 28 fucking members! Moreover, 19 of those 28 nations have surrendered their monetary sovereignty to a single unified currency, the Euro. The chances of reaching a consensus on ANYTHING is much lower when you have 28 voices. And of course, it's folly to expect a single currency to work seamlessly for 19 nations, when all of them remain free to pursue their own divergent fiscal policies.
What I find amazing is how none of the EU bureaucrats bothered to think any of this through in advance. Common sense says they should have designed exit mechanisms, especially for the Euro.