One of the main aims of creating the EU was to secure prosperity. Instead, it is impoverishing a whole continent and exterminating talent
By
Simon Heffer
We keep being told the eurozone
crisis is over, but it manifestly isn’t. The refusal to admit that the
euro can’t survive in its present form is poisoning the whole European
economy.
The Portuguese government is tottering. Greece faces its emergency funding from the European Central Bank being stopped.
The French government is at war with the European Commission over the imposition of tough austerity policies.
Spain
and Italy desperately need a devaluation if their goods can become
competitive in world markets again — something only leaving the euro can
achieve.
In the meantime,
the eurozone’s rigid economic policies are having a devastating effect
on the young — with youth unemployment heading for 30 per cent across
the single currency area, and in Greece it is just under 60 per cent.
German
ministers are so jittery about this latest crisis that they have
invited young people from across the continent to work in Germany — even
though their own economy is in recession.
Although
many of these desperate young Europeans are looking for possible
employment in Britain (which, thankfully, is freed from the shackles of
the euro), many more are considering moving to the U.S. and Latin
America.
In that sense,
the calamitous policies of the eurozone have created similar dire
economic conditions to those experienced in the late 19th century, when
waves of Europeans left dead-end lives in the old world to build better
ones in the new.
Back then, though, it was peasants who were leaving hierarchical societies where they had no opportunity to prosper. Now, it is middle-class young graduates who find that Europe’s economy cannot offer them any hope.
One of the main aims of creating the EU was to secure prosperity. Instead, it is impoverishing a whole continent and exterminating talent.
When will they stop the pretence and ditch the toxic single currency?
Back then, though, it was peasants who were leaving hierarchical societies where they had no opportunity to prosper. Now, it is middle-class young graduates who find that Europe’s economy cannot offer them any hope.
One of the main aims of creating the EU was to secure prosperity. Instead, it is impoverishing a whole continent and exterminating talent.
When will they stop the pretence and ditch the toxic single currency?
No comments:
Post a Comment