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It’s an overlooked aspect of the euro-zone debt crisis and Greece’s probable default: the hand that former European communists (now top members of the European Parliament) had in creating the euro-zone’s command-and-control economic system, along with the trappings of a common (and dubious) European culture. Now it’s all coming apart — a calamity that’s threatening the viability of the euro-zone and rattling the global economy.
The quest for a united Europe — one with a common currency (the euro) along with a single flag and anthem – was in retrospect a project for dreamers. And as euro-skeptics have said all along, the dreamers were European elites with autocratic tendencies.
So perhaps it’s not surprising to learn that a number of the elites who constructed a utopian political and economic union for Europe have something in common: communism.
This explains, in part, why headstrong Euro elites recklessly expanded the European Union and, in particular, the euro-zone (comprising the 17 states utilizing a common currency in the 27-member European Union). But in their zeal to achieve their dream, the European Union’s idealists failed to recognize a daunting problem: Countries as different as economically disciplined Germany and corruption-riddled and undisciplined Greece shouldn’t share a common currency under the same economic system — a system with one-size-fits-all interest rates and no chance for currency devaluations. (And if Greece still used the drachma – not the euro – a currency devaluation would be a way out of its economic mess. That option would spare ordinary Greeks the suffering caused by harsh and unrealistic austerity measures imposed by unelected eurocrats.)
Britain’s Nigel Farage, a conservative politician, euro-skeptic and delegate to the European Parliament, has on more than one occasion drawn parallels between Europe’s old communist dreamers and European Union dreamers.
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