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| Authored by: Wol on Friday, June 29 2012 @ 05:49 PM EDT |
I think, even now, we should "do the Euro right".
That is, all the countries that are obliged by treaty to "move to the Euro
eventually" AND the UK (we opted out of that requirement) should come to a
new currency union.
Bring in a "Euro 2" - bit embarrassing, but makes a lot of sense. Make
all existing currencies "non convertible" ie they cannot be used for
inter-state or extra-EU transactions, but they can float against each other
inside the EU.
Allow the existing troubled states to adopt another country's currency to get
themselves out of trouble (for example, Ireland could go back to Sterling,
although I think that would be rather embarrassing, again...)
Create a "friction tax" that discourages exchange rate movement -
maybe you take the six month moving average as what the rate should be, and then
tax any discrepancy at say 10%.
Lastly, all elected assemblies MUST either fund current expenditure with current
income, or must make tax arrangements to repay their borrowings. The next
assembly may not interfere other than to subsidise or pay off the previous
assembly's debts (that allows today's government to fiddle the books a little,
but with difficulty ... and again, with probable damage to its own reputation
...)
That way, all the national currencies will steadily fade away, rather than
disappear by fiat, as was done. And if the EU expands eastwards, it will help to
absorb those countries too.
Cheers,
Wol[ Reply to This | Parent | # ]
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| Authored by: Anonymous on Friday, June 29 2012 @ 06:17 PM EDT |
Actually we have had very different federal governments after the Articles of
Confederation under the same Constitution.
The first from start to the progressive had the federal government directly
controlled by the states as the senate was appointed by the state legislatures.
This gave the states control of the federal government.
The second came about with direct election of senators. The states no longer had
any control of the federal government.
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| Authored by: PJ on Friday, June 29 2012 @ 06:19 PM EDT |
That's one view. The other is that states, left to
themselves, sometimes become vicious and corrupt.
Think of the South, where human beings were bought
and sold in a truly vicious way, and the aftermath
was horrible too, with humans told they couldn't
attend good schools or drink from a water fountain
or enter a public part because of their color.
It wasn't until the Federal Government stepped in
that blacks could go to any school in the US, and
it took military support to make it happen.
So if you seriously think that states rights are
the road to heaven, you are not a student of history.
There is a balance in the Constitution, and that balance
is decided by the US Supreme Court. No one else in the
US gets to decide what is and what is not Constitutional,
and while anyone can decide they do not agree with a certain decision or
particularly like a certain judge,
I do require respect to be shown on Groklaw to the court.
I will for sure remove any grossly disrespectful comments.[ Reply to This | Parent | # ]
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