Tuesday, July 10, 2012

Europe: Doubters Take Note

The Lehmann Letter (SM)
The euro’s doubters should take note.

Last weekend France and Germany commemorated the fiftieth anniversary of their declaration of friendship, first  announced at a 1962 meeting of President Charles de Gaulle of France and Chancellor Konrad Adenauer of Germany.

According to a July 8 article in The New York Times:

“Germany and France Celebrate Their Bond”


Chancellor Angela Merkel of Germany, with French President Francois Hollande by her side, said:

““The European economic and currency union, as founded 20 years ago, has proved itself not strong enough yet,” she said. “Our generation has to draw the right lessons from that.” It is important, she said, to put the “finishing touches on a political level of the economic and monetary union — it’s a herculean task, but Europe is up to it.””

It is significant that the leaders of Europe’s most powerful states publicized their bonding of fifty years ago to declare their vision of where Europe will be fifty years hence: United in both economy and polity.

The euro’s doubters should take note.

(To be fully informed visit http://www.beyourowneconomist.com/)

© 2012 Michael B. Lehmann

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