Sunday, June 05, 2005
OLD EUROPE HATES NEW CURRENCY
The euro suddenly spiked lower on Friday after an Italian minister said that Italy should quit the single currency and revert back to the lira.
In the wake of the Dutch and French votes against the European constitution, the Germans have decided they want to scrap the euro and bring back their mark.
In the first rumblings of a call for the franc to be reinstated ...
EU UPDATE, from Mark Steyn:
Ah, say the Eurofetishists, but you naysayers are gloating undeservedly: the French didn’t suddenly see the light and decide British Eurosceptics had been right all along; they rejected the EU constitution because they thought it was an Anglo-Saxon racket to impose capitalism on their pampered protectionist utopia.
But so what? Britain’s naysayers don’t have to reject the constitution for the same reason as France’s commies, fascists, racists, eco-nutters, anachronistic unionists, featherbedded farmers, middle-aged “students”, Trot professors and welfare queens, bless ‘em all. If they want to go down the Eurinal of history clinging to their unaffordable welfare state, their 30-hour work weeks, 10-month work years and seven-year work decades, that’s up to them. If Britain doesn’t, that should be up to Britain.