fokker wrote:Emergence of nationalism in late 19th century had different causes than its re-emergence in 21th century. After WW2 it was a dead concept. After being associated with so many deaths, there must be very strong reasons for its re-emergence if people are willing to forget that.
Southern EU countries are doing badly economically without a chance to recover as long as they remain in the euro area. The common currency is a catastrophy. But even ditching euro will probably not be sufficient as they are not competitive against the eastern EU members and deep in debt. The EU is benefitial to competitive members but those less competitive ones have hardly reasons to stay in. Common currency doesn't help them as they need to devalue, they pay huge amounts of money to EU and receive little back as they are still too rich. Too much money is being siphoned out of them by repaying their debt that could be spent on education or could otherwise be invested. They are sentenced to decades of stagnation. They would be much better off with the EU being just a free trade organization.
See Government_debt_gdp
There is time difference of 100 years between us
(Underlined by me)
Of course a Eurozone member is deprived of the choice to devalue the own currency, if felt to be needed.
It needs consent of a greater group, that would be equally affected.
If you (Austria or Italy for instance) would find yourself outside of Eurozone, the tool devaluation would still be a very tricky one.
Moreover, you'd possibly shrink to a monetary size, that would allow hedgefonds to play football with your money. (As Helmut Schmidt took it, sie würden mit einem Lire Fußball spielen, ..they would play football with the lira)
So, the "catastrophy" lurks at other places not less.
And btw, do you think that without the big counterbalances of Remnibi and Euro, the US-induces financial crises would have been less harmful?
Two further remarks:
- You claim that "Southern EU countries" are damned to stagnation forever, if they do not leave Euro.
Did you realize that Spain and Portugal and Italy have growing economies at present?
And having a closer look on Spain and Italy, you can see high national obstacles, that are not at all on the account of Euro, or EU.
So, why the hell, uniting Europe should be the cause of every trouble, while national folly claims to be innocent by shifting the blame?
- indeed huge debts are to be repaid. But why do you think that they are paying huge amounts to Europe?
They do not.
And simply being a free trade zone is not simple but needs common rules, that should include prosperity, human rights and dignity.
Nowhere on earth is that at present better realized, than in EU.