FOLLOWING THE EUROPEAN UNION

Oops sorry, didn't notice that, because in papers here both were mentioned together Embarrassed

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Quote:

"If France votes no, the constitution is dead," said Daniel Keohane of the Centre for European Reform. "The momentum is on the no side. It's going to be difficult to regain and it's worrying."

I hope he's right. I don't want a European super-state, and a European constitution would put us on a slippery slope to getting one. Better to call off this constitution business and keep the EU what it is: a glorified free trade, free migration zone. That's what America should have done 190 years ago, and we needn't repeat every mistake America makes.

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Almost reluctant to say it Thomas, but I pretty much agree with ya there.

Meanwhile, more Continental Constitutional Contentiousnous:

Quote:

Top Polish politician slams EU

By UNITED PRESS INTERNATIONAL
Published March 21, 2005

WARSAW, Poland -- The man widely expected to become Poland's next prime minister has issued a stinging rebuke to France and Germany over European policy.

Jan Maria Rokita, a senior official in Poland's center-right Civic Platform party, was quoted by the PAP news agency Monday as saying it was a "scandal" European Commission plans to liberalize services were being blocked.

France and Germany have raised objections to the plans because they fear their economies will lose out to competition from lower cost countries such as Poland and the other new members of the European Union from the former communist world.

"If we don't manage to create a coalition to fight against this social protectionism, then there might be an impression that the entire EU will rather contract than develop," Rokita was quoted as saying.

Rokita is expected to become Poland's next prime minister in elections that could take place in June. Polls indicate the Civic Platform will win the elections by a wide margin.

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timberlandko wrote:

Meanwhile, more Continental Constitutional Contentiousnous:

How is that constitution related?

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ci

Its not so much the euro strength as the dollar being allowed to slip down the pan.

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Yeah, and our currency is worth about as much as piss in the UK and Europe. It seems to me it's already overflowing. Shocked

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ECB 'concerned' about euro deal

The ECB president had hinted he might like to see tougher penalties
The European Central Bank (ECB) has expressed "serious concern" over plans to ease the Stability and Growth Pact rules for eurozone countries.
Under the proposed measures it will be easier for euro members to keep their deficits within 3% of national output.

The move comes after Germany and France, who have breached the limit for the past three years, pressed for less stringent rules amid slowing growth.

The package of measures is expected to be approved by EU leaders this week.

The new rules are designed to give European ministers more flexibility over the costs they can exclude when adding up their deficits.

Interest rate pressure

"The Governing Council of the ECB is seriously concerned about the proposed changes to the Stability and Growth Pact," the institution said in a statement on Monday.

"It must be avoided that changes in the corrective arm undermine confidence in the fiscal framework of the European Union and the sustainability of public finances in the euro area member states."

The ECB did, however, note that the new rules may encourage some nations to reduce their deficits ** My comment: This is too comical to respond to. LOL
Its statement follow similar remarks in the past.

At a recent committee of the European Parliament, ECB president Jean-Claude Trichet indicated he would have liked to see the penalties against countries which break the rules strengthened.

Some economists shared the concerns, saying a greater tolerance of higher deficits could put pressure on ECB-set interest rates in the euro zone.

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Walter Hinteler wrote:

timberlandko wrote:

Meanwhile, more Continental Constitutional Contentiousnous:

How is that constitution related?

I believe it illustrates just one of the many undercurrents that bedevil the EU and its efforts to actually form an effective, cohesive union.

Steve, c. i. - I don't see the relative positioning of the dollar vs the euro a bad thing for the US or its economy at all. The folks with a problem - and a growin' one - are those who are taking no effective steps to restrain the euro's value relative to the dollar. One need look only at the yen-dollar games of the mid '80s into the late 1990s, and their effect on the Japanese economy to see where that leads.

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timber, I'm well aware of the benefits for the dollar to lose its value against the Euro; I just don't understand why the Euro countries are allowing the Euro to gain so much value against the dollar when it's so obvious how disadvantageous it is.

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cicerone imposter wrote:

The ECB did, however, note that the new rules may encourage some nations to reduce their deficits ** My comment: This is too comical to respond to. LOL
Its statement follow similar remarks in the past.

This "comical note" is and has been shared by some economists as well.

Besides, and the article proves it, the ECB has always said so (in general, I mean).

Nevertheless, I don't think it is okay to do so.

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the high euro is certainly hurting european exporters.

I dont know why its happening either. Perhaps its got something to do with the banana republic style finances of the US right now?

There is something going on peak oil dollar euro iraq resources water its all in there. Making sense of it is beyond me right now

http://www.feasta.org/documents/review2/nunan.htm

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Steve, It's beyond the understanding of the best economists that look at these kind of issues.

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I'm honoured to be considered in such exalted ignorance !

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Its a big club, Steve - I think we're all members. The only thing I can think of is that the powers behind the euro are functioning well beyond their competency level.

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Dollar Advances Against Euro; Fed Increase to Widen Rate Gap

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JW, That article really doesn't say too much in terms of the Euro's increase against the dollar for the past two years. Fluctuations of a penny or two one way or the other has very little meaning when the exchange used to be .85 Euros to one US Dollar.

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i can tell you that the canadian dollar took a severe beating when the canadian trade balance became negative and the canadian government ran up a substantial debt. it took about twenty years for the canadian dollar to recover somewhat. in the 1960's the canadian dollar was at par with the u.s. dollar (for a short time even somewhat above). it started to slide until it hit about 62 cents u.s. - and there was fear it was going to drop to 50 cents u.s. the canadian dollar now trades at around 80 - 85 cents u.s. it took slashing of government services, tax increases of all kinds - including federal and provincial sales taxes totalling about 15 % - and cranking up export trade to stop the canadian dollar from sliding further and make a bit of a come back. the high oilprice is a help to the canadian trade balance, but if the oil price should drop again canada will have to struggle mightily to prevent another slide. one thing is sure : if an individual or a government/country consumes/spends more money than it produces/earns there is going to be trouble ! hbg

(i guess credit counselling is always available)

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The US Congress just passed a law against personal bankruptcies which will require debts to be paid irregardless of the reasons. On the other side of the coin, our Congress is spending money like it's going out of style, and putting our children and grandchildren into debt that they will be unable to pay into the forseeable future. Talk about hypocrites.

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cicerone imposter wrote:

The US Congress just passed a law against personal bankruptcies which will require debts to be paid irregardless of the reasons.

Poppycock. The new legislation prevents nobody from filin' bankruptcy or from obtainin' relief under bankruptcy law. What it does is prevent folks from abusin' bamkruptcy law; it requires those, and only those, with ability to do so, as calculated by a standardized, uniform formula, to undergo, at their own expense, credit counselin', and to repay over time the legal debt they acquired. Regardless how the debt was acquired, legal debt is an obligation. Sometimes bad things happen to good people, but a legal obligation is a legal obligation. Personal responsibility is not somethin' The Democrats favor.

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Naw, it's something this Congress doesn't understand about "responsibility." Congress is the one that needs credit counselin'. The Congress creates "legal" debt which is passed onto our children and grandchildren. That isn't poppycock. As for the niceties of the new bankruptcy law, "ability to do so" is too subjective a requirement. That IS poppycock.

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FOLLOWING THE EUROPEAN UNION

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