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To me it looks like the kind of break-up the neo-liberals want: an EU (even the eurozone) that is a free-trade zone made up of independent member states that enter into competition with one another rather than cooperate. The competition game is 1) cut taxes 2) offer cheap, disposable labour. It's sometimes called a race to the bottom. It depends which way you look at it. If I were wealthy, I might be tempted to call it a race to the top.
Economic integration requires political integration, because it creates economic tensions that cannon be solved at any level smaller than the whole economy. The European Monetary Union will lead to closed political union, but it seems that things will have to get worse before they can get better. It needn't have been that way, but it was always easier to sell economic integration than political integration.

"It's the statue, man, The Statue."
by Carrie (migeru at eurotrib dot com) on Wed Jan 31st, 2007 at 10:53:47 AM EST

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