Melanie Phillips;
They were warned, of course, when the Euro was introduced that its inherent incoherence as the purported ‘common’ currency of wildly different economies would eventually bring it down, along with the EU project itself and the economies that so rashly tied themselves to it.
It’s not actually Europe that would fail. The countries sharing the continent of Europe could continue very happily to trade and ally with each other. What might now fail is the hubristic and anti-democratic project for an EU superstate, hoist by its own monetary petard.
Lots of chatter here concerning the gory details, and still more at Maxed Out Mama;
We aren’t going to see any acknowledgment of this in DC, but the UK is cutting at least top-level government salaries, and there is much more to come, Spain is cutting government salaries and is reducing welfare payments, Italy is clearly going to get serious, and Sarkozy either will cut or just freeze hiring […] Spain and Germany are probably going to be cutting a lot of their energy subsidies for that green sustainable stuff which they are finding to be an economic drag. The UK is still debating measures, but it is certain that they will be dismantling portions of their social support measures.
Thus, the irony is that Christie (in NJ) is now following the European model; the liberals in DC who always talk about the benefits of the European approach are sadly out of date. The Tea Bag Party are the Europeanists; DC is just gasping out its last breath in DC Disneyland.
