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View Diary: Bank Run in Cyprus, Will it Spread to Southern Europe? (322 comments)

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  •  "commonly acknowledged"??? (1+ / 0-)
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    I doubt it was "commonly acknowledged" in Germany that the EZ would necessitate fiscal transfers from rich "states" to poor "states", in the same way that California sends money to Georgia.

    And I would also dispute the following statement.

    The lack of democratic control in Europe is an issue , but its not caused by the bureaucrats themselves. Its cause dby the national governments who have absolutely no interest in a democratically legitimit Europe which would be able to tell them what to do.
    I would argue that most national governments, especially in southern Europe, care more about their standing in Brussels than domestically.  Monti, for instance, couldn't care less about how he was perceived in Italy.  His focus was always on Brussels.  Same in Greece, where the current ruling class cares more about future jobs in Brussels than ensuring the dignity of the Greek people.

    Who wants more democracy in southern Europe?  I would point to brave and courageous pols like Alexis Tsipras in Greece or the Grillo movement in Italy.

    Learn about Centrist Economics, learn about Robert Rubin's Hamilton Project.

    by PatriciaVa on Sun Mar 17, 2013 at 04:45:51 PM PDT

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