Turkey is not a member of the EU. Nor is it likely to be for a long time. There are separate talks with Turkey about accession but these are unrelated to the Constitution. The EU Constitution says nothing about Turkey. Within the EU votes are allocated by the size of your country. Germany is bigger than Holland, as is France, as is the UK, as is... So all of these countries will, in effect, have a greater say in Holland's affairs than the Dutch. But that has nothing to do with Turkey. It is a question about whether you think you should hand over sovereignty to a supranational 'government'. BTW Spain is not 'my country'. I am British, living in Spain.
June 1 (Bloomberg) -- German Finance Minister Hans Eichel, Bundesbank President Axel Weber and economists last week discussed a possible failure of European Monetary Union as differences in inflation and growth rates within the union grow, the weekly magazine Stern said. Inflation and growth differentials ``can lead to a meltdown in a couple of years, the collapse of the euro,'' the German magazine quoted Joachim Fels, chief fixed-income economist at Morgan Stanley, who took part in the meeting, as saying. ``The gap risks widening, so that the danger of an adjustment crisis is growing bigger,'' Stern quoted a Finance Ministry document as saying. Germany's lower house of parliament has commissioned a legal opinion on a possible reversal of EMU and the right of one of its members to leave the currency, Stern said. The introduction of the euro has cost Germany its former advantage of lower financing costs, which partially explains why it's lagging behind the other euro members, the ministry said in the report, according to Stern.
If you quote, do it properly, not in a style typical of Spanish politics: As for your country Spain, this advanced state of bloody confusion has been masterly described in 'Hommage to Catalonia' by no other than George Orwell himself (a Trostkyist fighter for Spanish democracy) . Apparently, things have not changed much since these earlier exercices on the road to democracy.
Of course the euro CAN ONLY GO DOWN. What else do you expect to happen? The master historical inflation creators, France, Italy, Greece among others have their citizen clientele loudly clamoring for 'more responsible social behavior'. They have recently been joined by the 'Bundes-fellas' themselves. Did either France or Germany get sanctioned for their illegal deficit figures of the past years? Nope. In reply, their politicians, Chirac and Schroeder forced the EU to tone down their stern stand against inflating. Where will the future Euro inflation go? Look at the past, same fellas behind the steering wheel. In fact the current about 2% interest rate is considered way too high by many social pressure groups. Chirac and Schroeder are working for their or their alikes' reelection in the near future. Same old tricks will be applied.
This is correct. I live in Greece (I'm Greek) and indeed many basic goods have doubled in price during the last 3-4yr. This inflation partly because of the monetary inflation in the world economy, i.e. due to the trillions of fiat money created out of thin air. Actually, EU has been the LEAST affected by this phenomenon of monetary inflation, compared to US, Japan and China. As ECB has mostly refrained from running the printing presses at full speed. But, can you imagine how much more acute this phenomenon is for citizens in US or Japan, whose currencies have depreciated from 35-50% vs Euro during the last 3yr? Yet in those countries, people have apprently been successfully brainwashed to accept that inflation runs at 2-3%. Also, in case of Greece (and some other EU countries) because of the "rounding factor" when prices quotes were converted from local currency to Euros. If the converted price would be e.g. E0.29, the store would round it up to e.g. E0.50. Also the psychological aspect of paying with paper vs coins (coins considered "chump change"). Remember the lowest value "paper banknote" is E5. In Greece the lowest value banknote was 100 Drachmes, i.e. 1/17th of the 5Euro. This was much less of a case in e.g. Germany A combination of these things increased price of lower-priced goods/services (from bread, groceries, milk, bottled drinks and chewing gum to the tip to the parking boy) by 10%-100% The social groups who were hit the hardest are the economically weakest in society (e.g. base wage earners, older people living off their pensions). So, a 30% rise in groceries, milk and gas, makes EFFECTIVE consumer price inflation (as experienced by those particular people) closer to 20% vs 2-4% reported. These people couldn't care less about the latest PC laptop, DVD or wide-screen-TV imported from China/Japan. This latter phenomenon is exactly the same in US (i.e. different social groups experience very different consumer price inflation). A "comforting" thing I see in this mess is that apparently fewer EU citizens wear blinders, than US citizens. And to question "authority".
What would be the outcome for Euro currency holders if this ever were to happen? Would they just re-introduce Deutschmarks, Francs and Lira??
They will convert the Euro back to DEM, Franks, Lira etc... Then you may see some crisis in Portugal, Greece etc after they lose the EU support; not to mention the potential chaos in the new Eastern European members...
I would love to see the EURO done away with... Each country has its own sovereignty....which means it should be able to print its own money..and make its own rules... Just like animals...ethnics are real...and oh yes people are different because of what they know with respect to their environment etc.. by which they have adapted... You cannot blanket or smooth over these issues...they are real and need to be addressed at each sovereign level... Just more theory about bigness is better.... Bigness...is clearly not better.... Look...smaller..tightly run companies will always put out better quality...and have more character.... The bigness is better camp will soon learn that its theories are crap...