Tuesday, June 28, 2005

European constitution

From a friend from the east:
"Just out of curiosity, i was just reading bout the Euro Constitution and wonder why so many nation against changing it. I mean, some countries voted a no and i gather that there is huge chaos. Local papers didnt explain the purpose for the constitution and the rationale for against. Can you tell me what u think bout it?"

Well, what I think is that the vote against was a colossal mistake. The "constitution" is actually a minimal set of rules, which would have facilitated integration and development. But actually europeans are angry against "europe" because they are angry for the Euro. You see, the advent of Euro forced governments to adopt a realistic finantial policy, instead of leveraging debt and inflation. People just can't count, they believe that the cause was the Euro, and are ignoring the fact that they have now access to loans with incredibly low rates, a finantial stability which before Euro was impossible, and many other advantages. The only hope is time.

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