Comments on: Perhaps the Swiss should just join the euro? http://blogs.reuters.com/breakingviews/2012/05/29/perhaps-the-swiss-should-just-join-the-euro/ Mon, 26 Sep 2016 03:26:00 +0000 hourly 1 http://wordpress.org/?v=4.2.5 By: manties http://blogs.reuters.com/breakingviews/2012/05/29/perhaps-the-swiss-should-just-join-the-euro/comment-page-1/#comment-9332 Thu, 07 Jun 2012 22:02:48 +0000 http://blogs.reuters.com/breakingviews/?p=11786#comment-9332 Dear Ian

Please do your homework before writing about Switzerland and the Euro. Switzerland is not in the European Union. There might be countries that are in the Union and still have their own Currency. However, there is no country not in the European Union but in the Currency Union. Looking at the disastere in Europe the Swiss people certainly do not want to join the EU. Not even the leftists would like to join. Switzerland can still decide on its own what it wants to do with the currency. Harder measures can be taken once the Untergranze can not be defended anymore. Ever heared of negative interests in the seventies? So beware when bringing your money to Switzerland. In the future you might have to pay for this service.

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By: ada013 http://blogs.reuters.com/breakingviews/2012/05/29/perhaps-the-swiss-should-just-join-the-euro/comment-page-1/#comment-9290 Thu, 31 May 2012 07:49:26 +0000 http://blogs.reuters.com/breakingviews/?p=11786#comment-9290 This is the classic architecturally perfect article that spends most of its length flying a kite only to blow it out of the sky in the final short paragraph.

Yes, we can all find hypothetical reasons why the Swiss would benefit from joining the Euro. But ultimately the Swiss public won’t agree to it because the burdens of Eurozone membership would be very obvious and completely intolerable.

Remember that even the Germans, with their entirely different history that makes them naturally strong supporters of an integrated, unified European polity, struggle to accept the requirement that the Euro clearly places upon them to bail out other member states. Whether the German people will eventually acknowledge this fact and get out their chequebooks remains as yet unclear. But it’s desperately hard to contemplate providing permanent large tax subsidies to other countries as a condition of Euro membership, even for Germany.

Given that the Swiss people don’t bear the uniquely difficult historical inheritance of the Germans and the powerful sense of obligation that it provides for Germany to be particularly generous to other parts of Europe, I simply don’t see the Swiss accepting the economic and moral equation by which they would have to pay significantly higher taxes in order to provide structural support for Greek or Portuguese public spending.

And that’s before you even start to think about the additional political constraints brought by having also to be in the EU if you join the single currency: for a proudly-independent people with a deep-rooted tradition of active democracy, why would handing over their sovereignty to an unresponsive external government, run essentially in the interests of the French and the Germans by an instinctively anti-democratic nomenklatura in Belgium, appeal to men and women who value a local politics founded on direct accountability and regular referenda?

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By: ada013 http://blogs.reuters.com/breakingviews/2012/05/29/perhaps-the-swiss-should-just-join-the-euro/comment-page-1/#comment-9289 Thu, 31 May 2012 07:49:10 +0000 http://blogs.reuters.com/breakingviews/?p=11786#comment-9289 This is the classic architecturally perfect article that spends most of its length flying a kite only to blow it out of the sky in the final short paragraph.

Yes, we can all find hypothetical reasons why the Swiss would benefit from joining the Euro. But ultimately the Swiss public won’t agree to it because the burdens of Eurozone membership would be very obvious and completely intolerable.

Remember that even the Germans, with their entirely different history that makes them naturally strong supporters of an integrated, unified European polity, struggle to accept the requirement that the Euro clearly places upon them to bail out other member states. Whether the German people will eventually acknowledge this fact and get out their chequebooks remains as yet unclear. But it’s desperately hard to contemplate providing permanent large tax subsidies to other countries as a condition of Euro membership, even for Germany.

Given that the Swiss people don’t bear the uniquely difficult historical inheritance of the Germans and the powerful sense of obligation that it provides for Germany to be particularly generous to other parts of Europe, I simply don’t see the Swiss accepting the economic and moral equation by which they would have to pay significantly higher taxes in order to provide structural support for Greek or Portuguese public spending.

And that’s before you even start to think about the additional political constraints brought by having also to be in the EU if you join the single currency: for a proudly-independent people with a deep-rooted tradition of active democracy, why would handing over their sovereignty to an unresponsive external government, run essentially in the interests of the French and the Germans by an instinctively anti-democratic nomenklatura in Belgium, appeal to men and women who value a local politics founded on direct accountability and regular referenda?

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