The Euro and the EU — Their Futures
Yesterday the European Commission launched its proposal to save the Euro (and the Spanish, Greek, and Italian economies) from collapse. As Andrew Stuttaford and others on the Corner have predicted, this proposes a massive expansion of European political and economic integration. If it were to be implemented, it would create a sovereign European power built on the ruins of historic European nation-states. The good news is that it has a kamikaze feel about it.
Well, by a fortunate coincidence, I was giving a talk on the euro at the annual summer school of the Institute of Political Studies of the Catholic University of Lisbon in Estoril. And either by an even more fortunate coincidence or by sheer unadorned genius, I had dealt with all the main proposals advanced by the European Commission — and when I say “dealt with” I mean . . . but modesty forbids. Now read on.