In times of economic stress nations, like people, look after themselves. The individual saves rather than spending. It seems rational, but the effect is to shrink the economy to the detriment of everybody.
On Wednesday Czech Prime Minister Mirek Topolanek criticised Nicolas Sarkozy’s bail-out plan for the French car industry on the grounds that it forced companies to keep production in France.
According to The International Herald Tribune, Topolanek said, “If politicians interfere more than necessary through their protectionism they might protract the crisis.”
Europeans care little for Europe-wide economic growth so national leaders will come under pressure to enact protectionist policies that only make sense at their level of governance.
The current crisis will be an acid test for the union. Belonging to a 27 nation economic block with a population of over 500 million has never been more important for our economic stability, and cooperation has never been more difficult.
We have to realise that our national interests and those of the union are interlinked, or narrow self-interest will divide us and a deep depression may conquers us.
(13 votes, average: 3.77 out of 5)
Loading ...
Hear hear.
If monsieur Sarkozy really wants to be President of Europe, he should show more foresight.
f monsieur Sarkozy really wants to be President of Europe