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The fact is that the monetary union has brought closer political integration and will continue to do so because, again, that's the only way. I think you're try

The fact is that the monetary union has brought closer political integration and will continue to do so because, again, that's the only way. I think you're trying to ascribe more meaning to whatever book you've dropped the title of that it might have... (I haven't read that book but the author seems serious enough not to ignore facts)

christudor 7y ago
I may be mistaken but it looks like you haven’t read the book but you’re confident in assuming I’ve somehow misunderstood it! Here’s the relevant quote in full: “British economist Nicholas Kaldor had warned as early as March 1971 that the fiscal governance system would deepen political divisions. In November 1997, Milton Friedman predicted that the euro’s flawed economics would “exacerbate political tensions by converting divergent shocks ... into divisive political issues.” The Europeans had it backward, Friedman concluded: “Political unity can pave the way for monetary unity. Monetary union imposed under unfavourable circumstances will prove a barrier to the achievement of political unity.””
- NotPaidToPost 7y ago
  I'm stating facts. You're trying to find more and more random quotes in an attempt to prove your point... But you haven't found one yet. Last time: The monetary union has led to closer political union and that can only continue. Downvoting all of someone else's comments in a thread is immature and certainly rather poor when you're claiming to be running an educational website...
  - christudor 7y ago
    Fair enough, let's leave it there. p.s. I don't actually have the ability to downvote comments, so that'll be someone else who's doing that.
  - tomhoward 7y ago
    It's not possible to downvote replies to your own comments, so you shouldn't accuse people of doing that.
blibble 7y ago
> The fact is that the monetary union has brought closer political integration and will continue to do so because, again, that's the only way. there's another alternative: the entire thing self-destructs which seems more likely at this point than full fiscal and political union
- NotPaidToPost 7y ago
  The Trumps and Farages of this world think that by repeating it again and again it will make it "seem more likely". But to me it seems more likely they will pass sooner than the Euro. The reality is that France, Germany, the Netherlands, etc are not going back.
raxxorrax 7y ago
There is always another way. And if that is the official strategy, there should be another way. In fact, any way would be better by definition.

christudor 7y ago

I may be mistaken but it looks like you haven’t read the book but you’re confident in assuming I’ve somehow misunderstood it! Here’s the relevant quote in full: “British economist Nicholas Kaldor had warned as early as March 1971 that the fiscal governance system would deepen political divisions. In November 1997, Milton Friedman predicted that the euro’s flawed economics would “exacerbate political tensions by converting divergent shocks ... into divisive political issues.” The Europeans had it backward, Friedman concluded: “Political unity can pave the way for monetary unity. Monetary union imposed under unfavourable circumstances will prove a barrier to the achievement of political unity.””

NotPaidToPost 7y ago
I'm stating facts. You're trying to find more and more random quotes in an attempt to prove your point... But you haven't found one yet. Last time: The monetary union has led to closer political union and that can only continue. Downvoting all of someone else's comments in a thread is immature and certainly rather poor when you're claiming to be running an educational website...
- christudor 7y ago
  Fair enough, let's leave it there. p.s. I don't actually have the ability to downvote comments, so that'll be someone else who's doing that.
- tomhoward 7y ago
  It's not possible to downvote replies to your own comments, so you shouldn't accuse people of doing that.

blibble 7y ago

> The fact is that the monetary union has brought closer political integration and will continue to do so because, again, that's the only way. there's another alternative: the entire thing self-destructs which seems more likely at this point than full fiscal and political union

NotPaidToPost 7y ago
The Trumps and Farages of this world think that by repeating it again and again it will make it "seem more likely". But to me it seems more likely they will pass sooner than the Euro. The reality is that France, Germany, the Netherlands, etc are not going back.

raxxorrax 7y ago

There is always another way. And if that is the official strategy, there should be another way. In fact, any way would be better by definition.