Tuesday 15 November 2011

Please take the EU forward

I am a dedicated "EU-file". Not only the EU as a political and organisational institution but also the need for a common currency, just like open boarders.

I believe that ALL the members of the EU should use the same currency, and have open boarders. UK included. It is wrong for us to be part of the EU but compete against it with our own currency which we can manipulate to gain unfair competitive advantage.

There are two key problems our leaders have to solve:

ONE

Strengthening the democratic management of the EU. We have passed the time when it is enough to have a technocratic management, with weak political oversight by government leaders. We need true, strong parliamentary governance and institutions, an EU civil service if you like.

One way to do this which I have advocated is to merge local politicians and parliaments with the EU parliament in Strasburg. With the SAME MPs sitting in both. Or at least a large percentage of Westminster MPs having a dedicated responsibility to sit in the EU parliament. To merge elections, when you vote for an MP you vote for his local and his EU policies.

TWO

We have to have a common money. Let's first define the simple purpose of money. It is to enable the exchange of goods, as a replacement of bartering, it is for us to be paid for endeavours, and it is for our choice to invest in productive ventures to provide better goods and services.

And, while we are at it, let's define what money is NOT for: it is not for creating an entirely fictitious "financial industry" with "financial products" that enable people to take huge wagers using money they do not own.

LEADERSHIP GOALS

What seems quite simple to me, seems to be an insurmountable problems for today's leaders. Perhaps they should step back, listen and find a way to get these two goals in place.

In the mean time let's stop all this bullshit about bond prices and deficits. Put a ceiling on the yield that can be paid, and let countries and banks live with the consequences of being able or not to raise the money they think they want to spend or earn. The cycle of government profligacy and market extortion has to be broken.

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