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Post Monetary Union and the European "Superstate"
Created by John Eipper on 05/24/16 10:48 AM

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Monetary Union and the European "Superstate" (Angel Vinas, Belgium, 05/24/16 10:48 am)

The EU motto could be paraphrased by another expression put forward by a Frenchman: "L´Europe se fera par la monnaie ou ne se fera pas."

However, all this was said when the EU had reached its geographical limits under Cold War conditions. As soon as enlargement towards the Central and Eastern European countries was completed, the idea floundered although it has never been repudiated.

The issue is which kind of Europe?

After the British referendum, some more clarity will be achieved.

The fact that Europe isn´t on the way to become a "super-state" is shown in its inability to cope with the accumulation of crises plaguing the member states and the EU machinery. Nationalism and xenophobia aren´t rampant. They´re being exhibited shamelessly.

Under these conditions, for some it wouldn´t be a drama if the UK were to exit. The challenge then would be to build a more integrated but smaller Europe. This isn´t an easy task either. However, with a half-divided UK within the Union, other people think that the identity problem of the EU would not disappear.

Obviously no sensible politician in office would express this sentiment aloud but it´s there in the background.

A German axiom might come to people´s mind: Besser ein Ende mit Schrecken als ein Schrecken ohne Ende. Let´s wait and see. None of us can predetermine the future.

JE comments:  In a sense the Ende mit Schrecken would be a "yes" on Brexit.  This would bring clarity and (to use an overused word), "closure."  Should the UK vote to stay, how would the uncertainty be any less, say, a year from now?  Three years?  Schrecken ohne Ende.

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