You cannot spend a day without references to the Euro crisis, the debt crisis, the economic context in Greece and elsewhere in Europe. But the situation as risky as it could be for the Euro zone countries of the European Union, shall not lead to less Europe and the end of the single currency.
Can you imagine a country, should it be Greece, leaving the Euro zone? What would it be next for it? And imagine this country bounces back without the Euro in ten years? That would give many arguments for Euro-sceptics and would put a true end to the Euro zone ambitions.
The Euro is the common denominator of 17 European countries… that are actually quite different and are suffering from different diseases. Therefore, if the Euro is not the solution, it is also not the problem. It is up to the Member States to set up economic, social and political targets aiming at better integrating themselves into the European Union and into the World’s economy.
A great share of people still think that the Euro has caused the cost of life to increase. But they are always comparing nowadays prices with the one they remember in their former currency back ten years ago. This is perfectly anachronistic.
The responsibility of some countries in difficulty is actually not shared because many are suffering from structural imbalances that started and developed before the 2008 crisis. But like many hard decisions we have to make in our life, some countries have pushed them for later or swept them under the carpet. This is absolutely irresponsible.
Now it’s responsibility versus solidarity, and some well-functioning European countries are criticized for not being cooperative or selfish, but I don’t think the problem is here. It stands in the increasing lack of trust in how leaders can solve the situation. Indeed, Euro-economics are all about short-term actions with long-term results.
William Spac
Membre des Cabris de l’Europe
