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"or they basically agree with the driver's choice of route."

That is my point. Most european countreis are governed by right-wingers, they enact right-wing policies. That is all.

Or do you think a different german government could all of its own force the EU in another direction?

by IM on Thu Sep 8th, 2011 at 06:26:42 AM EST
[ Parent ]
I asked you about the SPD supporting the 2009 debt brake amendment and you said "so what?"

This diary is about the PSOE panicking and adopting the PP's proposal (from 2010) to do the same, to general shock among the Spanish left public opinion.

So what? Do you think the Party of European Socialists provides a credible alternative? Do you think the SPD is not responsible for enabling the 2-year drive to EU wide constitutional debt brakes?

Economics is politics by other means

by Migeru (migeru at eurotrib dot com) on Thu Sep 8th, 2011 at 06:30:59 AM EST
[ Parent ]
Now not only the government, but the opposition in Germany is all powerful? Impressive.

By the way I already told what the opposition in Germany wants Eurobonds - transaction tax - Marschall plan financed by said transaction tax.

But you didn't listen. As usual

by IM on Thu Sep 8th, 2011 at 12:47:02 PM EST
[ Parent ]
For the umpteenth time: the German opposition could have stopped this nonsense in 2009 but they didn't.

That's not being all powerful, it's being stupid.

Economics is politics by other means

by Migeru (migeru at eurotrib dot com) on Thu Sep 8th, 2011 at 01:12:43 PM EST
[ Parent ]
By the way I already told what the opposition in Germany wants Eurobonds - transaction tax - Marschall plan financed by said transaction tax.

In the first place, if you can fund a Marshall plan type of project with a transaction tax, then your transaction tax isn't high enough. Because the whole point of a financial transaction tax is to kill the noise traders stone cold dead. Which, if it works as desired, also kills the base for that tax stone cold dead.

In the second place, even if they design a financial transaction tax to extract the maximum possible receipts, rather than impose the maximum possible harassment on noise traders consistent with not harassing productive businesses, revenues will not suffice to fund a Eurobancor. Even in the most optimistic possible estimate (where the Eurozone financial sector is assumed to contribute roughly half of the £ 250 bn that the Robin Hood Tax people guesstimate could be raised globally), it will fall short of plugging even the German CA imbalance (currently around $ 180 bn), to say nothing of the aggregate imbalances.

So while a Tobin tax is an excellent idea that will solve a great many problems, the biggest problem is not one of them.

- Jake

Friends come and go. Enemies accumulate.

by JakeS (JangoSierra 'at' gmail 'dot' com) on Fri Sep 9th, 2011 at 10:13:44 AM EST
[ Parent ]
In the first place, if you can fund a Marshall plan type of project with a transaction tax, then your transaction tax isn't high enough. Because the whole point of a financial transaction tax is to kill the noise traders stone cold dead. Which, if it works as desired, also kills the base for that tax stone cold dead.

ATTAC and others make the mistake of seeing the Tobin Tax as a revenue generating mechanism which was never Tobin's intention when proposing it...

Economics is politics by other means

by Migeru (migeru at eurotrib dot com) on Sat Sep 10th, 2011 at 04:51:16 AM EST
[ Parent ]

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