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Re: Pre-EU Shopping Spree

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  • yawho2001
    ... bad for the new members, since they would give up a means to manage their economies, whose needs are substantially different from the rich members under
    Message 1 of 4 , May 2, 2004
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      At 10:20 AM 5/1/2004 -0400, you wrote:
      >A Cato speaker argued strongly that accepting the eruo soon would be
      bad for the new members, since they would give up a means to manage
      their economies, whose needs are substantially different from the
      rich members under whose control the euro is.<

      >An interesting moment was when a Cato speaker harped a bit on Paris
      that instead of trying to dominate Europe, it should try to show
      genuine leadership. And one of the European participants responded
      that he felt no particular need for anyone's "leadership."<

      Thanks Martin. Twenty five nations with a population of 455 million
      is impressive. I'm going to have to get a better understanding of
      the structure and operation of the EU. If, as was mentioned, Russia
      and perhaps Ukraine were to become members that would put the
      population near one billion and greatly increase the natural
      resources available to the Union. I have no idea if the addition of
      those two nations is feasible.

      From the Washington post:

      "The population of the EU will increase by 20 percent to 455 million
      inhabitants and the group will add nine new official languages. The
      new members also add $548 billion to the EU's collective GDP bringing
      it to $11,891 billion. The increase in population will make the EU
      the largest trading block in the world in terms of population but it
      will remain second to the United States -- which has a GDP of $13,712
      billion --as an international economic force."

      I can understand why some in this country are a bit concerned about
      the EU.

      >What's never discussed, though, are any potential pressures on the
      new members' labor markets from other new members. The Czech R. and
      Slovakia have kept their labor market mutually open since their
      split, but the others haven't.<

      I was thinking of that. In particular, competition from Polish
      workers might be a problem. The East Germans, who have yet to catch
      up with their western countrymen, seem to fear the influx of Polish
      workers and the Poles worry the Germans will buy back all the land
      ceded to them after the war.

      Also from the Washington Post, "But across Western Europe, millions
      of people would rather not shoulder the cost, both in taxes to
      underwrite the modernization of newcomer nations and in the potential
      jobs lost. "

      Wars, globalization, etc., brings to mind the Chinese curse, "May you
      live in interesting times."

      Janko
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