Tel-Chai Nation

The Council for Economic Analysis (via The Brussels Journal) has released the first official French report that criticizes the Euro currency. Some translation:

“Economic Europe disappoints, the Commission and the European Council never failed to promise that integration and reforms would solve the economic languor of the continent. [...] Because they said that monetary stability was going to create the conditions of growth that in the 1990s, Europeans agreed to the up front sacrifices to settle Euro.”

[...]

“Why has the single market and the Euro failed, or apparently failed to bring about the expected benefits?” (p. 24)
“We were waiting to see European integration stimulated by the Single market and creation of the Euro. At this stage, we have to note the weakness of these effects.” (p. 47)

[...]

“Nothing confirms the hypothesis of an intensification of the integration created by the introduction of the single currency.” (p. 48)
“Neither the single market nor euro have provided a decisive impulse.” (p. 50)

Italy has also taken the Euro to task for its inability to provide economic stability for the continent. Europe should certainly cancel this ineffective currency, but not only that - all countries who realize how stifling it is should also pull out of the European Union (see earlier note) which has caused more than enough problems for the continent as a whole.

Labels: Europe