On 9/22/2011 7:53 PM, Andre Lieven wrote:

At the moment, their resistance to using the Euro as their currency
must look pretty wise in retrospect.

Quite. The problem with the Euro is similar to what's wrong with free
trade. Going too wide on either, thus connecting profoundly different
economies, tends to not work well. If Mexican wages are made the
norm for the US, bad things happen to most USians. If nations with
balanced banking sectors and budgets tie into nations lacking the
one or both, you get some of what is happening in Europe now.

There was a great deal of criticism about what the Euro was going to
lead to by putting such a group of both rich and impoverished nations
together under a common currency, from day one of its creation.
But apparently the dream of a pan-European economic future Utopia
defeated any thoughts of current reality, or indeed any consideration of
how such a union would work over a period of years or decades.
One is reminded of the immediate post French revolution... where
everything, including dating of years, the names and length of months
and measurements were going to get all changed.
France's Sarkozy has apparently decided that He knows the best way to
settle the Israeli/ Palestinian problem, unlike Obama:
http://news.yahoo.com/blogs/envoy/fr...010948169.html
Why do I see Napoleon setting his foot for the first time on the shores
of Egypt? :-D
He wants to wander into that swamp and replace the US in it as its
leader, more power to him. :-D :-D :-D

Pat