Comments on: Fiscal sovereignty largely overrated in euro zone http://blogs.reuters.com/breakingviews/2011/12/13/fiscal-sovereignty-largely-overrated-in-euro-zone/ Mon, 26 Sep 2016 03:26:00 +0000 hourly 1 http://wordpress.org/?v=4.2.5 By: RMoS http://blogs.reuters.com/breakingviews/2011/12/13/fiscal-sovereignty-largely-overrated-in-euro-zone/comment-page-1/#comment-8707 Wed, 14 Dec 2011 13:02:32 +0000 http://blogs.reuters.com/breakingviews/?p=8044#comment-8707 Whatever one may think of the degree of additional soveriegnty that’s been allegedly surrendered under the new agreements, markets will not likely be inclined to trust either the Euro, or the Eurozone’s weakest economies unless and until they see the moral equivalent of a central bank capable of standing behind soveriegn debt.

It would help, of course, if Maastricht hadn’t proved to be a toothless tiger. Will ‘Son of Maastricht’ have any more bite?

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By: SleepyJohn http://blogs.reuters.com/breakingviews/2011/12/13/fiscal-sovereignty-largely-overrated-in-euro-zone/comment-page-1/#comment-8705 Tue, 13 Dec 2011 21:51:14 +0000 http://blogs.reuters.com/breakingviews/?p=8044#comment-8705 I agree with your last paragraph. Subsidiarity was, of course, simply a sop to Cerberus, as the EU itself decided what it could do better! Each little step on this road to political union may seem a small thing to give away to the central authority for the greater good, but the further down the road you go the harder it is to backtrack, and the end result will be very large indeed: no less than the total destruction of the people’s right to elect their leaders. Rather ironic when you consider the current Middle East crisis, in which people are literally dying trying to obtain that right.

The EU has the manipulative morals of an encyclopaedia salesman – you have no idea you have bought the whole thing till it is too late.

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