Thread: European Commission proposal to protect euro

http://www.dw-world.com/dw/article/0,,5564350,00.html

A new proposal by the European Commission to prevent a repeat of the Greek crisis states that all national budgets in the European Union must be peer reviewed and approved by the European Union government before they can go into affect in their native countries.

While I don't see the need to include nations outside the eurozone (something this proposal does to great anger from the Brits and Swedes), enacting this proposal to the eurozone may be the best way to make sure that nations that share a currency must also share a fiscal policy. Nations like Germany, who practice good, sound fiscal responsibility, will have nothing to worry about. Nations who fling around their taxpayers' money freely and without thought of the consequences (that's right, I'm looking at you, Greece) will have to shape up.

What do you think?

...WTF are you babbling about?

Britain will eventually join the eurozone.

The problem is that Greece did have it's budget peer-reviewed when it was admitted into the EU under The Treaty of Maastricht. Now, certainly, the finances were not as bad as they are currently (well, only a few Greek politicians will ever know for sure), however it does go to prove that large amounts of cash can be fabricated by the Greek (or, whatever government is currently in a fabricating mood) government. This new proposal will do absolutely zilch in preventing another Greek catastrophe.

Originally Posted by C. Gerstle

http://www.dw-world.com/dw/article/0,,5564350,00.html

A new proposal by the European Commission to prevent a repeat of the Greek crisis states that all national budgets in the European Union must be peer reviewed and approved by the European Union government before they can go into affect in their native countries.

While I don't see the need to include nations outside the eurozone (something this proposal does to great anger from the Brits and Swedes), enacting this proposal to the eurozone may be the best way to make sure that nations that share a currency must also share a fiscal policy. Nations like Germany, who practice good, sound fiscal responsibility, will have nothing to worry about. Nations who fling around their taxpayers' money freely and without thought of the consequences (that's right, I'm looking at you, Greece) will have to shape up.

What do you think?

I fully agree. We need to promote sound economic behaviors and abort irresponsible ones in their nest. We ought to look more like Germany and less like Greece.

PS: Your link in the OP doesnt seem to be working.

Originally Posted by paris

I fully agree. We need to promote sound economic behaviors and abort irresponsible ones in their nest. We ought to look more like Germany and less like Greece.

PS: Your link in the OP doesnt seem to be working.

Sorry about that. Here is a new one:

Brussels to unveil plans for tougher rules to protect euro

Originally Posted by Infinite Chaos

GB is still a major economy and has important business links outside of the European mainland.

Those now put in charge of Britain's destiny by arch-traitor Heath and his descendants have always been jealous of Britain's status.

Nations which lost territory in various wars have bitched about how Britain kept its own imperial territories as long as it did. And the likes of the French howled like banshees about how we enjoyed things like cheap food from the Commonwealth just because they didn't have one.

The weeping sores of the EU always bore us a grudge on the grounds of our diplomatically siding against the strongest continental power through the centuries. Crap like that is part of the EU's paranoid foundation, hence its mad grab for as much power as possible from its component nations whilst lying about devolution and greater democracy. That's why people need 'reprogramming' about how great the EU is. I'd say Patrick McGoohan's PRISONER would have been based on the EU if I didn't know better about the series.


We've got stuff. The school bullies of the EU therefore want to confiscate it for themselves, hoping the reflected glory will rub off too. Pathetic.

Google 52 REASONS TO LEAVE THE EU.

Originally Posted by Republic_Of_Public

Those now put in charge of Britain's destiny by arch-traitor Heath and his descendants have always been jealous of Britain's status.

I found this bit from the original article incredibly patronising - "In the Wednesday edition of the German weekly, Die Zeit, Rehn said Brussels should have greater powers and be able to monitor the national budgets of EU nations. He said regulations must be put in place to make this possible.

"We want governments to send their budget outlines to Brussels for review before they are approved by their national parliaments," Rehn said.
"

So, like bad schoolchildren or teachers facing an Ofsted inspector - your plans have to be approved by someone else (Elected by who? Answerable to who?) who then agrees or red-pens your plans?

Not a chance! Interesting that even the Germans don't like that idea

Originally Posted by Republic_Of_Public

Nations which lost territory in various wars have bitched about how Britain kept its own imperial territories as long as it did. And the likes of the French howled like banshees about how we enjoyed things like cheap food from the Commonwealth just because they didn't have one.

Have to correct you there, France may have lost their territories earlier than us but they still march in at will if they don't like the current leader of a country and replace him. Link: Central African Republic being a major example.