Is Out going to ultimately been the answer? Until reading this article I was only aware of Germany and France talking about the option of withdrawal from the EU. It now seems to me that there must be significant social movements in most of these countries for independence from the EU or to kick out the dysfunctional members.
My question is how much longer to you think this will last? Will we see a breakup of the Eurozone in one way or another in the next year?
I personal don't think so. Despite all the literature about the negative sentiments about how the union is going over there, I feel like if there was an easy out, and someone would have been better off, by now they would have pulled the trigger and left. I feel like those in power must obviously see that their destinies are all intertwined at this point and want to ride it out. Otherwise surely some politician somewhere would have made a move by now.
Based on this article and my understanding of the EuroZone I would be very surprised to see a major disruption in the Union as a whole. However, this article seems to portray the likelihood of Britain leaving the European Union. I suppose this is more likely because of the fact that Britain does not use the Euro, however, as noted, trade within the EuroZone is responsible for a significant portion of foreign investment and this would undoubtedly decrease if Britain does leave the Union.
ReplyDeleteI definitely see where the UK is coming from in attempting to renegotiate their relationship with the EU, but I have to agree with Castle that the move is likely ill fated, and could destabilize the entire continent. Britain pays in more than their fare share, but usually receives less than their fair share of the benefits, so it makes sense that Britons would favor leaving the union, but the shocks from disintegration could likely inflict more pain on the UK's economy (both directly and indirectly through their trading partners) than simply supporting the union. On the other hand, it seems reasonable that the secession rumor could just be political capital for the upcoming negotiations. Even then though, this is a political device which derives its strength from its plausibility.
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