A sovereign currency needs a sovereign government and vice versa.
The current manufactured crisis in Europe exposes a similar but opposite situation that existed in the era of the pre-constitutional Articles of Confederation government of the United States of America. The Articles of Confederation established a Nation that was unable to make and spend money easily. It only took roughly 10 years for people to realize that an ineffective, broke, and decentralized government was a sure path to disaster, and a constitutional convention was called for that eventually established the current governmental institutions of the United States. The U.S., now a country of over 300 million people, is the financial bedrock of a world inhabited by almost 7 billion people.
On the other side of the mirror, we have the European Union, an entity that can issue currency freely but is populated by countries that despite being financially locked in(burdened or otherwise), they are not emotionally invested in the preservation of that same Union. From this comparison, a possible solution logically emerges. The European Union, if it is to continue, requires a weakening of its member states, and a strengthening of the central body that makes decisions. The EU needs a federal constitution that establishes a strong central government. The Euro will not last otherwise.
The current manufactured crisis in Europe exposes a similar but opposite situation that existed in the era of the pre-constitutional Articles of Confederation government of the United States of America. The Articles of Confederation established a Nation that was unable to make and spend money easily. It only took roughly 10 years for people to realize that an ineffective, broke, and decentralized government was a sure path to disaster, and a constitutional convention was called for that eventually established the current governmental institutions of the United States. The U.S., now a country of over 300 million people, is the financial bedrock of a world inhabited by almost 7 billion people.
On the other side of the mirror, we have the European Union, an entity that can issue currency freely but is populated by countries that despite being financially locked in(burdened or otherwise), they are not emotionally invested in the preservation of that same Union. From this comparison, a possible solution logically emerges. The European Union, if it is to continue, requires a weakening of its member states, and a strengthening of the central body that makes decisions. The EU needs a federal constitution that establishes a strong central government. The Euro will not last otherwise.
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