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Whatever. The point is, the "experiment" is supporting a massive bureaucracy (going way beyond the MEPs) layered on top of the already massive bureaucracies of the member nations.

This is what's being fought so tooth and nail for. Europe will be fine with separate currencies. Please.

How many committees and scientific studies and retreats at cool Italian mountain resorts do we need to tell water makers they'll be hauled to jail if they print "this product can assist with dehydration" on their bottles?

I like this one too

http://blogs.wsj.com/brussels/2011/12/01/meps-mario-who/?mod=wsj_share_twitter

:)
 
But how is that different from the massive Federal bureaucracy in the US that exists above and beyond the already massive bureaucracies of the individual states? Or the massive bureaucracy of Her Majesty's govt that exists on top of the already massive local bureaucracies of Northern Ireland, Wales and Scotland, for example, as well as those of the local councils?
 
Quote from Martinghoul:

But how is that different from the massive Federal bureaucracy in the US that exists above and beyond the already massive bureaucracies of the individual states? Or the massive bureaucracy of Her Majesty's govt that exists on top of the already massive local bureaucracies of Northern Ireland, Wales and Scotland, for example?
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Nothing, although I would suggest as bad as the U.S. is, Europe is far worse (how many central banks are there in Europe, exactly WTF are they all doing). My point is that this whole saving the euro thing is as much about preserving a perverse way of life for tens of thousands (maybe more) of bureaucrats as it is about improving the life of the general population.
 
I'd fully support the EURO (including the Brussels waterhead) if there was a fiscal union. But there isn't and there likely won't be for another 10-20+ years. That's why the EUR is a painful and costly misconception.
 
Quote from ralph00:
Nothing, although I would suggest as bad as the U.S. is, Europe is far worse (how many central banks are there in Europe, exactly WTF are they all doing). My point is that this whole saving the euro thing is as much about preserving a perverse way of life for tens of thousands (maybe more) of bureaucrats as it is about improving the life of the general population.
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Well, that's true, but then the EMU isn't as mature a ccy union as the US, so one shouldn't expect its institutions to be as efficient.

I don't know about your other point. Could be, but I have no way of knowing whether it's the case or not.
Quote from Butterball:
I'd fully support the EURO (including the Brussels waterhead) if there was a fiscal union. But there isn't and there likely won't be for another 10-20+ years. That's why the EUR is a painful and costly misconception.
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Indeed, although I'd like to point out that the US started out in a similar way...
 
BTW, don't know if anybody is paying attention to the Verizon deal to buy Spectrum from Comcast and TWX. A big deal and a coup for Verizon if you ask me, though the market is yawning at it. I'm a VZ shareholder (6% yielder!) and very pleased.
 
Quote from Martinghoul:

Well, that's true, but then the EMU isn't as mature a ccy union as the US, so one shouldn't expect its institutions to be as efficient.
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Actually, I would say exactly the opposite. They started with the mass bureaucracy and are trying to build something underneath it. It took 200+ years for the U.S. to create this mess. The poor EU had it on day one!

Imagine the Louisiana Purchase trying to get done with 19 different environmental, trade, labor, competition, and fairness committees weighing in first.
 
Quote from ralph00:
Actually, I would say exactly the opposite. They started with the mass bureaucracy and are trying to build something underneath it. It took 200+ years for the U.S. to create this mess. The poor EU had it on day one!

Imagine the Louisiana Purchase trying to get done with 19 different environmental, trade, labor, competition, and fairness committees weighing in first.
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OKI-DOKI... My read of it is quite a bit different, but that's fine.
 
Something else, they are going to build a prison right where I live. Urgh...I hate to be a NIMBY person.

But anyway, I live here and my grandma has an appartment here...

Is this going to drive down the value of the properties? :D
 
Back when the rumor was that S&P might downgrade France like 2-3 months ago they said they 'reaffirmed the ratings we gave them a while ago' or something to that effect. The fact that they said 'no comment' this time, makes me think there might be truth to the rumor
 
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