For better or best, but not for worse?
Is the EU only feasible in good times? Or was the post-WWII trauma so vital to it's success, that later generations who didn't experience the first half of the 20th century, don't get it?Economic Malaise Threatens To Undermine European Unity
"Europe is joining the United States and Japan in what is turning into First World economic malaise, leaving the still-healthy emerging giants of Asia and Latin America to sustain global growth for the first time..."The vastly more generous social safety nets in Europe have made it so Europeans are likely to suffer less than Americans from the global slowdown. But as the once-sizzling economies in Europe go cold, discontent with the notion of the E.U. appears to be growing. Ireland, for instance, dealt a blow to the future of the union in June by rejecting a treaty that would have, among other things, created a full-time E.U. president...
"[A]nalysts say the financial interests of Europe are diverging, highlighting the fundamental challenges at the core of plans to build one integrated European economy. Years of relatively fast-rising wages in Spain, Ireland and other of Europe's former dynamos -- many of which became overly dependent on building booms and surging domestic consumption for growth -- have made them less competitive globally. That happens even as the continent's economic powerhouse, Germany, appears to be regaining its footing with leaner companies and lower labor costs..."
Labels: economics, EU, politics
posted by Ken Wedding @ 6:13 AM
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