Friday, June 03, 2005

Death of the Monetary Union

It's just a matter of time before European governments start dropping out. All the political capital in the world couldn't hold the Union together, in my humble opinion. Italy's Maroni suggests pulling out of the monetary union temporarily. Any reversal of gears now would result in a domino effect and total collapse of the European experiment. Who can blame them? What nation would want to be swallowed by the confusing bureaucracy of an unpredictable superstate? Would the collapse of the European Union really be all that bad? If you're a socialist in Brussels, most definitely.

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