Saturday, May 31, 2014

EU-Phobia

   Utopia becomes dystopia.

   The euphoria that captured much of Europe as more nations joined the Union may be  overwhelmed  by radical nationalism, coupled with the danger of economic collapse and fear of "the other."
   In recent elections to choose members of the European Parliament, candidates opposed to the EU itself made significant gains as delegates to an organization they want to disband.
   On another level, a major problem is that the member nations agreed to a common currency, the euro, before setting up a strong enough central banking system and fiscal policy. And unless that happens soon, the danger of economic and/or political collapse will increase, especially if Scotland splits from the United Kingdom and declines to join the EU.
   That's the most likely scenario at the moment. Others, of course, may also develop. For example, some of the economically stronger countries may refuse additional support for those already in trouble. Added to rising xenophobia, this will worsen local problems and complicate issues for the entire EU.
   As that happens, the stronger economies could decide they will be better off on their own and in full charge of their own national and economic destinies, thereby increasing their ability to decide fiscal and monetary issues most beneficial to themselves. That, of course, would mean dropping out of the EU and abandoning the euro.
   In Britain, they're already halfway there, since they do not use the euro and the United Kingdom Independence Party (UKIP) is growing in strength. The head of that party has been elected to the European Parliament, and is sure to use his growing popularity to pull the UK out of the EU.

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