Ok, France is only a failed state in how to run an economic system, Ill give you that because I liked Rousseau
http://www.politico.eu/article/quic...y-verhofstadt-antonio-tajani-gianni-pittella/ The most interesting answers I think were and and
You do realise that part of the reason Germany has grown is precisely because of the other countries NOT doing so well, do you? That's what's keeping your currency competitive... otherwise your goods would be 15-20% more expensive.
BTW W&B... https://www.theguardian.com/busines...-special-deal-over-access-to-city-post-brexit I think they're just starting to realise that throwing all the cards up into the air, (with changed banking regulation, changed legal framework, changed traditions and probably changed personnel), probably isn't a wise option when you've got a failing currency. The EU’s chief Brexit negotiator has shown the first signs of backing away from his hardline, no compromise approach after admitting he wants a deal with Britain that will guarantee the other 27 member states will continue to have easy access to the City. ... The remarks hint at concern among senior Brussels policymakers about the damaging consequences of Brexit for the continent if Europe’s biggest financial centre is cut adrift. A spokesman for the European commission insisted the minutes, which were drawn up by European parliament officials, did not “correctly reflect what Mr Barnier said”. But the minutes do mirror the view of the governor of the Bank of England, Mark Carney. He told MPs on Tuesday “there are greater financial stability risks on the continent in the short term, for the transition, than there are for the UK”. Carney said other EU nations relied heavily on the City for their financial needs and could face serious problems if international banks based in London were no longer able to gain easy access to European countries and corporations. “If you rely on a jurisdiction [the UK] for three-quarters of your hedging activities, three-quarters of your foreign exchange activity, half your lending and half your securities transactions, you should think very carefully about the transition from where you are today to where the new equilibrium will be,” he said. I'm guessing all this crap about 'punishing' people sounds unrealistic for those who understand the realities of how things actually operate.
Yeah but thats not correct. Italy and France wouldnt have been doing well from the 70ies to 90ies if they hadnt devalued all the time. This hasnt much to do with Germany but it is merely a rendez-vous with the serious side of life. Politically not feasible in probably 25 of 28 states. Wishful thinking by the British press.
For cryin' out loud, you're now contradicting your own damn points If Italy and France could devalue, which they can't now, they'd be doing better. I mean, THAT'S what I've been saying ALL ALONG. It's HELPED Germany and harmed everyone else {Mod edit}. If you bothered to read it you'd see it's about statements made by Barnier, the chief EU negotiator. He's the one saying they can't simply throw all the dice up in the air and see how it falls at the same time as they have a MASSIVE sovereign debt/banking crisis.
Wrong, Devaluation pretty much hurts anyone who has the money. So mainly the population of the said country. It is an expropriation through the backdoor and not the holy grail of economic cheating some make it up to be. And there are borders. There is an end to devaluation when the rest of the world nowadays, esp Asia, gets ever more competitive. The time for this business model is over. With or without euro. Euro is just a convenient scapegoat I know who said it and even in his home state it would wipe out every government if they dared to do so. Merkel's lowest approval ratings always were lowest when she had to handle Greece. And she didnt much give them anything. If she had caved in she wouldnt be in office anymore. What do you think is her approach to your lot now? One state is enough to block any deal and thats already one. The biggest and most powerful. You guys need to grow up a little or wake up or whatever but I really didnt think the EU would be the grownups when in those negoatiations.
The problem is you don't seem to know anything about economics... or business... or, well, anything by the looks of it. You've already said that Italy and France prospered for decades by remaining competitive and that was partly by reducing the value of their currency. Now they can't do that and you can't seem to quite grasp that might be a problem. I mean, what do you need... a diagram??? As for 'economic cheating'!!! LOL... WTF? What are you, a twelve year old?! This isn't monopoly {Cut the insults - Mod note}
Your points are incoherent and often flatly contradict each other. As @babaorum says, you're impossible to argue with because you ignore evidence from experts when it's presented to you or simply move the goalposts when it suits you. As such I'm going to put on ignore again... {Mod edit}
The low Euro is a boon for exporters in the short term, but Germany's competitiveness over time is based on labor productivity, not currency manipulation. The euro also provided successful firms in France and Italy with cheaper means to finance operations and these countries also benefited greatly from lower interest rates for their governments. If you want to blame Germany, blame their wage moderation practices which lowered domestic demand and made German firms more competitive in the Eurozone. Also the governments of countries that struggle in terms of growth need to share in the blame for their inability to implement structural reforms. Should we really abandon the Euro, which has proven to be a very stable currency, just to provide politicians with an escape hatch when they mess up?
In all honesty, I don't have a problem with Germany looking after Germany's interest. In fact, it would be a surprise if they didn't. I wish we ran our economy in a similar way. I'm simply pointing out that the way things have worked out has been more to their advantage than people in other countries, mainly in the south. As to whether politicians should, or should not, pursue this or that policy, that's unfortunately the way politics has developed in those countries. I suppose the real issue I have with it is this idiotic idea that economics is a morality tale and is about punishing those who have been 'naughty'. It's both childish AND counterproductive. We only need to look back to 1939 to see the dangers of punishing an entire country for misbehaving. One would have thought the Germans, of ALL people, would realise the dangers of it... it would seem not.
Then you should perhaps look at the first years of the euro. When -mainly because of the euro- unemployment in Germany was twice as high. So your argument is, was and always will remain invalid. No one stops the south from making the euro work out for them as well. You're buying into a myth made by southerners as if they were victims in a crime when actually they're the drug addicts doing drug-related crimes(drug=cheap money, free stuff paid for by debts). This isnt about morale, it is about rules everyone agreed up on. And because that is the case, your moaning and whining argument has lost out to the matter of fact and rules argument.
It's pretty unlikely they'll get anywhere with Merkel. Germany isn't doing too badly with the way things have worked out. In fact, you can even make an argument they're using the weakness of the southern Europeans to hold the value of their currency down, i.e. currency manipulation.
The first time I was in Geneva I went to visit Rousseau's house. The person at the counter immediately asked if I was American. I said yes and asked why. She said that only Americans visit the museum. As for Kant let's not forget that "Immanuel Kant was a real pissant who was very rarely stable"
That's all well and good but if we were doing a better job of managing our own affairs it wouldn't have any 'purchase'.
All the Russians are doing is what we have been doing. They are just not as sophisticated at it as we are. I think the real issue and my real concern is that we seem to be unable to defend ourselves against it. That is the real thing I am worried about -- not that it is happening, but that it may work. That is may be working says something bad about the state of our democracies and citizen involvement.
I've been reading this book by a fella called Mark Blyth who's a prof. at Brown university... https://www.amazon.co.uk/dp/B00BJK4Y7U/ref=dp-kindle-redirect?_encoding=UTF8&btkr=1 ... and various articles by Stiglitz saying more or less the same thing. Both of them make the point that the EU was going quite swimmingly until they implemented the euro in such a way that it was always going to come crashing down at some point. It was only ever a matter of time. If there was any real political leadership they'd be able to correct the flaw but I'm just not sure there is. Of course, maybe without us in the way it clears the move to a more integrated economic model and further political integration... maybe even including an effective elected EU president because that's what's needed. If there was an increase in the democratic control of the EU then they'd likely vote for an end to this disastrous austerity experiment they're involved in. That could absolutely transform the political situation.
I think that's more wishfull thinking than anything based on reality. Especially since the main opinion regarding the people of Britain choosing to leave the EU, is one of them shooting themselves in the foot. Obviously as evidenced by recent events, polls don't say everything (i.e. Britain also shows as barely 'remain' in the following link) but at least it gives some indication. And most EU countries would seemingly choose to stay in the EU if given the choice. The Netherlands isn't on that list, but they held their own poll and it also shows the majority wants to stay. I think after we see the ramifications for Britain after the Brexit negotiations are over, the wish to stay in the EU will only be higher than they already are in the member states.
Thats what Ive been saying for years but for someone reading mainly British papers this is an economic and political free-for-all on the brink to total destruction anyways. There is Brexit, there is Putin, there is immigration from Africa and the ME, there is globalisation and there is Trump. There are enemies and dangers all around us and as history tells us about unification processes this can only lead to further integration. Possibly and hopefully democratising the EU included.
Hang on, are you saying that the majority of people in Europe wouldn't vote to reduce the levels of austerity in the EU? Because I think you'd find they would. That's the reason they're not being asked.