How the Euro Crisis was resolved | 257 comments (257 topical, editorial, 0 hidden)

Re: Keynes was partially right.... (4.00 / 2)

Which presumably was the plan by the Euro founders - who had a strategic vision unlike their successors today who couldn't think their way backwards out of a paper bag.

Index of Frank's Diaries

by Frank Schnittger (mail Frankschnittger at hot male dotty communists) on Tue May 31st, 2011 at 02:54:37 AM EST
[ Parent ]

Re: Keynes was partially right.... (4.00 / 3)

Hmm, they already knew Germany wouldn't go for it 20 years ago...

Or Germany was hoping to impose German macroeconomics on the rest of Europe, as has happened with Merkel's "Euro Plus Pact" (formerly the Pact for the Euro formerly the Competitiveness Pact formerly the Deauville pact).

Economics is politics by other means

by Migeru (migeru at eurotrib dot com) on Tue May 31st, 2011 at 03:43:09 AM EST
[ Parent ]

Re: Keynes was partially right.... (4.00 / 7)

Migeru:

they already knew Germany wouldn't go for it 20 years ago

You've said that Germany has been pursuing the same mercantilist goal for twenty years, and now that the other EEC leaders at the time knew that Germany would never accept compromise on the currency (so, presumably, moves towards a more federal type of economic governance), but went ahead all the same.

Can you write a diary explaining this?

by afew (afew(a in a circle)eurotrib_dot_com) on Tue May 31st, 2011 at 07:40:43 AM EST
[ Parent ]

well, 20 years ago (4.00 / 3)

there still was momentum for "ever closer union." This died somewhere in the late-90s/early 00s and was killed off by France's NON to the EU Constitution, which basically set in stone the message that there would be no increase to the political legitimacy of the Brussels institutions, ceding the ground to national governments.

And at times of crisis, national populism is the easy route to deflect blame and rally people, with predictable results.

Wind power

by Jerome a Paris (etg@eurotrib.com) on Thu Jun 2nd, 2011 at 08:09:44 AM EST
[ Parent ]

Re: well, 20 years ago (none / 0)

Stop blaming the political left for the sins of Third-Way social democrats.

Economics is politics by other means

by Migeru (migeru at eurotrib dot com) on Thu Jun 2nd, 2011 at 09:19:24 AM EST
[ Parent ]

Re: well, 20 years ago (none / 0)

where did you see me blame the political left in my comment above?

Wind power

by Jerome a Paris (etg@eurotrib.com) on Thu Jun 2nd, 2011 at 09:33:27 AM EST
[ Parent ]

Re: well, 20 years ago (none / 1)

France's NON to the EU Constitution

which you blame (not in that comment, but you did all thrrough the Constitution debates on this site years ago) on the French "lyrical left" and rebels within the PS.

Economics is politics by other means

by Migeru (migeru at eurotrib dot com) on Thu Jun 2nd, 2011 at 09:40:09 AM EST
[ Parent ]

Re: well, 20 years ago (4.00 / 4)

I did indeed, but in this case I was making a more general point about the overall loss of desire for "ever closer union." Maybe it was generational change, maybe it was the focus on enlargement (which as we know the Brits did see, rightly or wrongly, as a distraction from deepening tendencies), maybe it was having a fundamentally eurosceptical French president (Chirac), maybe it was the cost and change in perspective(s) from Germany' reunification it was the scandinavians and the more utilitarian view of the EU, or (more likely) a combination of all that.

Wind power

by Jerome a Paris (etg@eurotrib.com) on Thu Jun 2nd, 2011 at 10:23:21 AM EST
[ Parent ]

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