Europe and the Euro

Essential for the continued functioning of the European common currency called the Euro is economic and labor integration. I lived in Europe before the introduction of the Euro, at the time of the change over, and for years afterward.

Transparent economic integration is essential. But you cannot buy a new car in Germany and then get it licensed in The Netherlands without having to undergo great effort and outrageous paperwork. I know, I did it.

Labor has to be able to pick up and move to where the opportunities are. So a certificate of competency issued to a medical doctor in Poland or Italy must be fully accepted in England, the same with a plumber, an electrician, or a mechanical engineer. The European Union can't even agree upon one single household appliance plug. A British plug won't work in Belgium, etc. In Greece the government actually lied to the European Union about its budget deficits. Big time. But these aren't the biggest barriers.

All the different small country languages is the main issue. A Spanish worker who doesn't speak a word of French or German cannot in all reasonableness up and move to Germany or France and expect to get a good job.

To maintain one healthy organization, each member needs to be able to communicate with the others. I am fluent in Spanish, but I still recognize that it is essential all immigrants and long term residents coming to America must be highly proficient in speaking and reading English.

Do all these problems mean that the Euro is completely doomed to failure? Not necessarily, but it does mean that no matter how much some people would like to see America fail and the U.S. Dollar cease being the main reserve currency worldwide, it is unlikely to happen any time soon.

-
-
-
-
-