12.09.11

Europe comes closer together

Posted in at 14:05 by RjZ

In the post “No Half Measures I suggested that Europe must choose to break apart or come closer together, but that, regardless, there was no middle ground. World markets seemed to agree, punishing stocks and currencies from Hong Kong to NASDAQ until they got their act together. Today, Europe, with the exception of the United Kingdom (which isn’t part of the monetary union in any event) have chosen, like the states of the U.S.A., to come closer together, sacrificing another big chunk of soveriengty to save the Euro.

Europe has much more to lose from a cultural perspective than did those 13 colonies of the United States. Even if the markets are happy at the news, it remains to be seen just what the impact of this move will be.

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