Tue Jun 21st, 2005 at 10:28:48 AM EST
There is a lot of talk about the Eurozone economy being too inefficient, too inflexible and too expensive, and how wonderful everything would be if only we would all reform our economies to something much closer to the ideal US globalised model of no worker protection, no welfare or health system and no regulation of any sort.
I can't pretend to understand how much of the criticism aimed at the Eurozone is realistic and how much is ideological propaganda. Much of the coverage of the debate assumes the conventional wisdom that the Euro economies are bad without really explaining what the problem is meant to be and how to fix it.
One of the things I'd like to see EuroTrib do is to tease out these issues in the hope of coming to some sort of realistic view of the choices facing the continent, shorn of ideology where possible and making clear where ideological choices are being made.
My first question: what's so bad about the Eurozone labour market? What makes it inflexible, and how should it be reformed?