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Still, I will not make a too pessimistic statement to you today.
Probably a point will come soon, where the willingness will collapse, to give more new
money, and to get no reforms for it in Greece, and no chance for a recovery from the
inefficiencies in Greece.
The Euro is not Europe. The Euro is not the European Union.
Those countries, which do not have the Euro, are also Europe.
Those countries, which do not have the Euro, are also the European Union,
9 out of the 28 European Union Countries.
The 28 European Union Countries are one of the greatest economic and political success
stories in history of mankind, even without the Euro.
Since 1992, these now 28 European Union Member Countries have created this huge internal
market of 507 million people without customs and tariffs.
This internal market has 4 constituents:
The free flow of Goods
The free flow of Services
The free flow of Capital, including the right to freely establish businesses
The free flow of Labour, meaning people can move freely to where they find work
This internal market is complemented by the governmental institutions of the European
Union.
The European member states have given part of their sovereignty to such European Union
governmental institutions, but not all.
The balance between the two is in a permanent state of flux, of discussion, and of even
dispute. See the permanent criticism by the UK, saying, that too much and unnecessary
responsibilities have been given to Brussels, thereby unnecessarily undermining the
sovereignty of member states.
When suffering from the Euro crisis day in and day out, as is the case now, we must never
forget this:
The internal market and its political framework is the biggest achievement of the European
Union.
The internal market did function well from its inception in 1992 till 1999, without the
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