3 ms·
The only problem with your obvious solution - Eurozone (http://en.wikipedia.org/wiki/File:Eurozone.svg http://en.wikipedia.org/wiki/File:Eurozone.svg) is smalle
by daliusd 15y ago
The only problem with your obvious solution - Eurozone (http://en.wikipedia.org/wiki/File:Eurozone.svg http://en.wikipedia.org/wiki/File:Eurozone.svg) is smaller than European Union (http://en.wikipedia.org/wiki/File:EU_Globe_No_Borders.svg http://en.wikipedia.org/wiki/File:EU_Globe_No_Borders.svg) therefore European Parliament can't take this role.
Yes, Eurozone has problem that they have single currency but no single political institution and your solution is theoretically correct but practically you have two choices:
1) you would need to force Great Britain, Sweden, Norway, Denmark and maybe some other countries (e.g. I'm not sure about Czech Republic) to use Euro. A lot of other countries would be happy to accept Euro - especially Eastern Europe countries. I would be happy personally :-) But those countries do not fulfill Euro convergence criteria (http://en.wikipedia.org/wiki/Euro_convergence_criteria http://en.wikipedia.org/wiki/Euro_convergence_criteria). Accepting those countries just as is will have big negative impact to Euro.
2) Or let non-Euro countries to decide Euro destiny. That does not sound good either.
Therefore your obvious solution looks more like edge case solution.
- nhaehnle 15y agoWhat about the middle road of taking the European Parliament restricted to MPs from Euro member states? I admit that's not a very orthodox option, but the Eurozone is a pretty unorthodox construction anyway.
- daliusd 15y agoIn my opinion that kind of happens now and moving solution apparatus to EP alone will not improve situation. The main problem is that Germany, France and Benelux countries combined has bigger weight in EP than PIGS countries. General opinion in Germany is that Greece must bankrupt [1] and I guess that's general opinion about PIGS. Moving decisions to EP would give opposite effect at the moment. There is no single Europe yet. Before some time I have tried to compare USA to EU: http://news.ycombinator.com/item?id=2725696 http://news.ycombinator.com/item?id=2725696 It is quite interesting that EU and USA can be compared but different structure of economies show why USA is in better/different position. [1] http://www.guardian.co.uk/business/2010/mar/04/greece-sell-islands-german-mps http://www.guardian.co.uk/business/2010/mar/04/greece-sell-i...