“The common house of Europe” should be with the introduction of the Euro, and the related Homogenization effects strengthened and expanded. Where are we today? Why is it many of the citizens today, as the Experiment of the Euro and Europe would have failed?
One of the most fundamental explanations for the difficulties that we currently have within Europe and the Euro-Zone, is founded in the fact that the different economies, different economic development. The graph 1 (source: Thomson Reuters) illustrates this statement.
You normalized the industrial production in the year 2000 to 100%, so already from the year 2002 to detect amplified from the year 2004, a drifting apart of the individual economies. The sub-Prime crisis and the subsequent financial crisis within the financial industry acted as a catalyst. This fact is not surprising, because a non-stable and robust economy can not sustain such a profound and problematic intervention of extreme factors so simple. Who has been “pulled”, it falls to the dictates of the structural changes to the victim. The result is: Europe, therefore, developed with different speeds and, above all, a strongly different to show intensity.
However, such an artificially aggregated economy is a survival space even in the long term?
This question currently has scientists around the globe. A Europe of different speeds is not to summarize to a classic economic area. There needs to be a balance, which could be worn following the example of the German countries financial compensation. It would require, in any case, however, a common economic and social policy and a common approach in questions of budgetary discipline. Thus, it has become from an economic issue to a political one. Theodor Heuss once said: “The Acropolis, the seven hills of Rome and Golgotha are the birth sites of Europe”. Today, the politicians and business leaders stand on the threshold of a new birth, what must be a very deep show profound Changes and developments. Some of the scenarios, which in the coming weeks and months, a reality of could I have in my new book: The greed for Gold are shown.
Article image: © DLConsulting / pixelio.de
Graphic Source: Thomson Reuters