Thursday 22 May 2014

EU NEEDS THE "EURO" BUT MUST CHANGE "BAIL OUT" RULES !


In order to attain the ultimate objective of a "Federated Block of European Nations" which can then protect itself against other Geographical or Political blocks, the EU needs a currency like the EURO to ensure cohesion. 

However, at present the EURO is out of favour !  Is this not because the EURO was created too quickly and too early ?  Afterwards were new member countries not   permitted to join before they were really ready ?   Was it not the cost of adopting and applying certain new   principles in the major Treaties of the EU constitution that led to "bail-outs" ? 

Many political parties in the EU elections want changes to Treaties and Principles.  Immigration and Migration rule changes top of their lists.

EURO rules are also singled out.  Germans think bail-outs are a costly experience !  The famous 3% rule is  being questioned ?  Countries in the EUROZONE can no longer devalue their EURO currency - they are "bailed out" instead and their citizens suffer the consequences !

Instead of "Bail outs" would a softer approach not be to permit "opt outs" from the EURO for a certain time, so that countries can devalue their new local currency and then rejoin the EURO after having correctly realigned their national principles with those of the EU ? 

The EUROZONE must review certain of its principles which were adopted too quickly and too early !
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