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Euroland - Federation of Retarded Acceleration

Start: 09.07.2012

Citation of From Klaus-Rainer Jackisch in Tagesschau "Das Projekt Euro ist gescheitert", 04.07.2012
[translation Eulenspargel]

« EU missed the opportunity to deepen the Union

In its current form, the project Euro has failed. It was unsuccessful because the Currency Union was established prior to the erection of a political superstructure. In the beginning the Eurozone architects claimed that the Currency Union would automatically lead to a political union. But in the 12 years of the existence of the Euro this goal was not achieved. In all these years, the EU was preoccupied with its expansion, not with its deepening.

Because of this, the Eurozone members are now reaping their reward - in particular from aggressive money market speculators, for whom the Euro has always been a thorn in their flesh. Clearly, has anyone in the anglosaxon realm rejoiced at how the Euro, despite its weaknesses, could stand up to the US Dollar and challenge its hegemony? »



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