The end of the European Union is not in its disintegration in itself, but in the end the illusion --- who is the survival of the EURO at whatever price tag, which, like Egypt's Mubarak and set personal power, vanity and arrogance before the good of the people!
guest article by John Carney translated into German by Hanael Association
guest article by John Carney translated into German by Hanael Association
The European Union Is Over
Published: Monday, 20 Dec 2010 was to allow free trade and free investment between European countries without the risk of competitive currency regulation and without allowing depreciation.
It was assumed that Europe would participate more in global equity and credit investment. It was an attempt to create monetary stability without the imposition of a central financial and political order. All these were noble goals. But the attempt failed. create the permanent emergency fund Harzardspiel with morality, they invite the members of the euro zone and their budgetary policies be to be free riders in the game with the fire, which make use rescue operations.
to improve the game with the moral hazard and to meet the demands of the Germans, the promise of EU leaders that the rescue packages have "strict".
to improve the game with the moral hazard and to meet the demands of the Germans, the promise of EU leaders that the rescue packages have "strict".
The first effect of the "stringent conditions" will be the loss of fiscal independence by members of the euro zone.
The European Union will have far more control over how their members use taxes and spending. "It was wishful thinking to assume it would work without a much stronger straitjackets work, with only slightly more coercive measures and greater pressure on the discipline," said the French Finance Minister Christine Lagarde, as
brother Brian Carney In an interview with the Wall Street Journal the weekend said.
http://online.wsj.com/article/SB10001424052748704034804576025681087342502.html?mod=googlenews_wsj
This will probably mean that European countries are no longer allowed to make its economy more competitive, by regulating their own taxes and contributions always welcoming.
countries such as France and Germany have not always seen as "poaching" when countries like Ireland, the investment made jobs more attractive by reducing their corporate tax rates. now believe the EU politicians, notably the Germans and French that the poachers of
redistribution
of jobs and investment, can be obtained from the low tax rate
with a race to the lowest level. But they are wrong. Since exerted the pressure of that competition in the field of taxation and regulation, will increase taxes and regulatory burdens and Europe will be less hospitable in the business and investment climate. Many jobs and investment will be deposited directly and comprehensively from Europe.
Europe is not only the benefits
d
The mistake that brings a unified system of taxation issues is that they thought could be only one system is right. In reality, however require companies of all shapes, various types of taxes to thrive. The destruction of tax diversity for the formation of Companies undermined. weighs even worse, that the end of tax diversity for European tax systems are less inviting for start-ups and make ups. The
special interests - namely large companies in France and Germany, namely the European tax policy
dictate . This leads inevitably to barriers to entry to the existing corporate power against innovative start-up competition to protect. The established companies with a strong will it exercise their political muscle to business dynamics, Block Competition and safe play Laasen subsidies to all competition against their own corporate structures to prevent. (And just so that the original European idea of discrimination and Competitiveness has already led ad absurdum - Note Kolland) The end of diversity also increased the risk of (unpredictable) costs arising from such errors. If a homogeneous regime is imposed, this means that any errors are distributed in these rules to all members of the euro. If an increase in taxes will destroy the growth, it will destroy not only here or there growth
. It will destroy all. And there is no room for deviations from this rule, it is difficult to determine at all, that the tax is guilty of that growth will be destroyed. The "volunteers" will have been murdered.
The second effect of a permanent emergency fund to be "stringent conditions" are, without ever having a rescue plan. credit markets for a premium for each state to calculate the non angewisenen the EU rescue plan requirements is. Finally, recognize all members of the euro zone painful that she by the Germans French
fiscal policy will be subject to it being cut off from global markets . The price of the violation of Eurocracy will mean the inability to borrow money. (Again, a radical Umkejhrung of the original European idea - the EU is not the gateway to the world and the freedom it brings the loss of freedom and closes the doors to the world - note Kolland). It is a coup disguised as a bailout. They may expect a lot from the loss of independence if Eurpa bring them closer to a fiscal union. But the euro-zone members lose more than their fiscal independence. designed While the structures that they have been a candidate for funding from the "European stabilization mechanism" to be, are taxes and spending in a very short time will be regulatory. No matter o b bank regulation or safety of workers shall be adopted as rules, there is no country be allowed to depart from European standards. (And this is a more serious loss of liberty and security - the future Generations will curse us - Note Kolland)
The power of the purse will not end in economic policy.
you will eventually not stay even with economic regulation but also take other circumstances, in other words, social policy and human rights. Once recognizes the Eurocracy that it has gwonnen control and power over the European governments to finance their operations, they will begin to exert their control over every conceivable policy. Everything, from immigration policy, on abortion laws the military measures will get the hostages from the "strict requirements" of the European stabilization mechanism felt. If they think it sounds far-fetched, please remember that the national government was the United States is able to raise the age for alcohol consumption in each state, which was never his direct authority assumed by the mean of the roads legislation. Now imagine what would bring about a centralized government, if they have the power to completely shut down access to credit markets by any local political authority would have. The is precisely the world that created the members of the Euro-zone at the border. Sure, the national and local governments in Europe are allowed to keep a few insignificant flaws. These are good for tourism, but that's about it. But something important will be a candidate for the central regime. It's just incredible that this revolution is the European political system there, "to change limited contract" under the cover of one, that European officials do not require a vote on the Member States. It's hard to believe that someone thinks that is really minor, is already more that EU officials are afraid that the peoples of Europe do not accept the new regime. think it is better to impose the law before the people can reject it. The independence of the European governments is over on Earth. The stars on the flag of the European Union, they flicker one last time just before they are deleted.
"This is the way the world ends," TS Eliot once wrote .
"Not with a bang but a whimper." ------------------------------------------------ -----------------------------------------
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The decision by the European Union last week to create a permanent bailout fund may not end the sovereign-debt crisis but it will—eventually—end the European Union as we know it. brother Brian Carney In an interview with the Wall Street Journal the weekend said.
http://online.wsj.com/article/SB10001424052748704034804576025681087342502.html?mod=googlenews_wsj
This will probably mean that European countries are no longer allowed to make its economy more competitive, by regulating their own taxes and contributions always welcoming.
countries such as France and Germany have not always seen as "poaching" when countries like Ireland, the investment made jobs more attractive by reducing their corporate tax rates. now believe the EU politicians, notably the Germans and French that the poachers of
redistribution
of jobs and investment, can be obtained from the low tax rate
with a race to the lowest level. But they are wrong. Since exerted the pressure of that competition in the field of taxation and regulation, will increase taxes and regulatory burdens and Europe will be less hospitable in the business and investment climate. Many jobs and investment will be deposited directly and comprehensively from Europe.
Europe is not only the benefits
d
he lose competitive taxation and regulation, Europe will lose the advantage of exchange rates. The fiscal and political independence of the members of the euro zone allowed to use a variety of tax and regulatory systems may be, so that companies could choose the forums where they wanted to operate. As companies and investors have many different needs, this diversity meant a better chance for companies in Europe to find a new home. EinTech start-up Project might feel more at home in Ireland, while an industrial giant in Germany could find a better place as a headquarters.
In a single European system, are also pushed up some (innovative) companies not only from Europe - but they will come, perhaps not at all about. special interests - namely large companies in France and Germany, namely the European tax policy
dictate . This leads inevitably to barriers to entry to the existing corporate power against innovative start-up competition to protect. The established companies with a strong will it exercise their political muscle to business dynamics, Block Competition and safe play Laasen subsidies to all competition against their own corporate structures to prevent. (And just so that the original European idea of discrimination and Competitiveness has already led ad absurdum - Note Kolland) The end of diversity also increased the risk of (unpredictable) costs arising from such errors. If a homogeneous regime is imposed, this means that any errors are distributed in these rules to all members of the euro. If an increase in taxes will destroy the growth, it will destroy not only here or there growth
. It will destroy all. And there is no room for deviations from this rule, it is difficult to determine at all, that the tax is guilty of that growth will be destroyed. The "volunteers" will have been murdered.
The second effect of a permanent emergency fund to be "stringent conditions" are, without ever having a rescue plan. credit markets for a premium for each state to calculate the non angewisenen the EU rescue plan requirements is. Finally, recognize all members of the euro zone painful that she by the Germans French
fiscal policy will be subject to it being cut off from global markets . The price of the violation of Eurocracy will mean the inability to borrow money. (Again, a radical Umkejhrung of the original European idea - the EU is not the gateway to the world and the freedom it brings the loss of freedom and closes the doors to the world - note Kolland). It is a coup disguised as a bailout. They may expect a lot from the loss of independence if Eurpa bring them closer to a fiscal union. But the euro-zone members lose more than their fiscal independence. designed While the structures that they have been a candidate for funding from the "European stabilization mechanism" to be, are taxes and spending in a very short time will be regulatory. No matter o b bank regulation or safety of workers shall be adopted as rules, there is no country be allowed to depart from European standards. (And this is a more serious loss of liberty and security - the future Generations will curse us - Note Kolland)
The power of the purse will not end in economic policy.
you will eventually not stay even with economic regulation but also take other circumstances, in other words, social policy and human rights. Once recognizes the Eurocracy that it has gwonnen control and power over the European governments to finance their operations, they will begin to exert their control over every conceivable policy. Everything, from immigration policy, on abortion laws the military measures will get the hostages from the "strict requirements" of the European stabilization mechanism felt. If they think it sounds far-fetched, please remember that the national government was the United States is able to raise the age for alcohol consumption in each state, which was never his direct authority assumed by the mean of the roads legislation. Now imagine what would bring about a centralized government, if they have the power to completely shut down access to credit markets by any local political authority would have. The is precisely the world that created the members of the Euro-zone at the border. Sure, the national and local governments in Europe are allowed to keep a few insignificant flaws. These are good for tourism, but that's about it. But something important will be a candidate for the central regime. It's just incredible that this revolution is the European political system there, "to change limited contract" under the cover of one, that European officials do not require a vote on the Member States. It's hard to believe that someone thinks that is really minor, is already more that EU officials are afraid that the peoples of Europe do not accept the new regime. think it is better to impose the law before the people can reject it. The independence of the European governments is over on Earth. The stars on the flag of the European Union, they flicker one last time just before they are deleted.
"This is the way the world ends," TS Eliot once wrote .
"Not with a bang but a whimper." ------------------------------------------------ -----------------------------------------
Anhören
Umschrift
Wörterbuch - Detaillierten Wörterbucheintrag anzeigen
The permanent bailout fund will create moral hazard, inviting euro zone members to engage in budgetary brinksmanship and free-riding that will make bailouts more likely. To ameliorate the moral hazard—and to satisfy the demands of the Germans—the Europeans
promise that the bailouts will come with “strict conditionality.”
The Europeans—well, mostly the French and Germans—believe that this will redistribute the jobs and investment from the low tax poachers—ending what they view as a “race to the bottom.” But they are wrong. As the downward pressure this competition exerted on taxation and regulation is relieved, taxes and regulatory burdens will rise and Europe will become less hospitable to business and investment. Many jobs and investment will be redistributed right out of Europe altogether. Europe will not only lose the advantages of competitive taxation and regulation—it will lose the advantage of diversification.
The fiscal and political independence of euro zone members allowed for a variety of tax and regulatory regimes to proliferate, allowing businesses to choose forums in which to operate. Because businesses and investors have diverse needs, this diversity meant it was more likely that they would be able to find a home in Europe. A tech start-up might be more at home in Ireland, while an industrial giant might find Germany a better place to headquarter. The error of a single system of taxation is that it assumes that a single system can ever be the correct one. In fact, however, businesses of different sorts require different sorts of taxation to prosper. Destroying the tax diversity of Europe will undermine business formation. What’s more, the end of tax diversity will make European tax regimes less friendly to start-ups. Special interests—particularly large corporations in France and Germany—will dictate tax policies. These will inevitably create barriers to entry to protect existing corporate power from start-up competition. Incumbent corporate powers will exercise their political muscle to prevent business dynamism, block competition, and secure subsidies of their own corporate structures. The end of diversity also increases the risk of error costs. When a homogenous regime is imposed, it means that any errors in that regime are spread to all the euro members. If a level of taxation is growth-destroying, it won’t just destroy growth here or there. It will destroy it everywhere. And, since there won’t be any room for departures from that regime, it will be hard to even detect that the tax is destroying growth. The “test subject” will have been assassinated.
The second effect of a permanent bailout fund will be to create “strict conditionality” even without a bailout. Credit markets will charge a premium for any state that appears not to be meeting the EU’s bailout requirements. Eventually all euro zone members will have to abide by fiscal policies set by the French or Germans on the pain of finding the global credit markets closed to them. The price of disobeying the Eurocracy will be the inability to borrow. It’s a takeover disguised as a bailout. The power of the purse will not end with economic regulation. It will eventually include non-economic regulation—in other words, social policy and human rights. Once the Eurocracy realizes it has gained control of the power of European governments to finance their operations, it will begin to exert its control over every policy conceivable. Everything from immigration policy, to abortion laws, to military policies will be held hostage by the “strict conditionality” of the European Stabilization Mechanism. If that sounds far fetched, recall that the national government of the United States was able to raise the drinking age in every single state—something that was far beyond its direct authority—by holding federal highway funds hostage. Now imagine what a centralized government could accomplish if it had the power to completely shut off access to credit markets by any local political authority. That’s exactly the world that the members of the euro zone are on the verge of creating.
Sure, the national and local governments of Europe will be allowed to keep a few inconsequential quirks. Those are good for tourism, after all. But anything important will be a candidate for centralized regulation. It’s simply stunning that this revolution in the European political system is about to take place under the guise of a “limited treaty change” that European officials say will not require the votes of member states. It’s hard to believe that anyone truly thinks this is minor; more likely the EU officials are just frightened that the peoples of Europe will not accept the new regime. Better to impose it before the people can oppose it.
The independence of European governments is passing from the earth. The stars across the flag of the European Union are flickering one last time just before they are extinguished.
"This is the way the world ends," TS Eliot once wrote. "Not with a bang but a whimper." 
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