Unusually perceptive of the political and historical roots of monetary union, the author begins and ends his book by reminding readers of Altiero Spinelli’s call for “the definitive abolition of Europe’s division into national sovereign states” (p. 1). The common currency, even though not specifically mentioned in the Ventotene Manifesto, may be seen as the most radical answer to Spinelli’s call to end the nation state. At the same time, the success or failure of the euro could well turn out to be the ultimate test of Spinelli’s proposition.
The book has little sympathy for objections inspired by a narrow reading of “optimal currency area” theory (interestingly, its original proponent, Robert Mundell, came out in favour of the creation of the euro). In contrast to American economists such as Kenneth Rogoff (“a giant historical mistake”) and, more recently, Joseph Stiglitz (“fatally flawed from birth”), Sandbu argues that the architecture of the common currency has been wrongly blamed for the Eurozone crisis, and has been used as a decoy by policy makers for their own unforced errors.
Thousands of assault rifles such as AK-47s, mortar shells, rocket launchers, anti-tank weapons and heavy machine guns are being routed through a new arms pipeline from the Balkans to the Arabian peninsula and countries bordering Syria.
The suspicion is that much of the weaponry is being sent into Syria, fuelling the five-year civil war, according to a team of reporters from the Balkan Investigative Reporting Network (BIRN) and the Organised Crime and Corruption Reporting Project (OCCRP).
Arms export data, UN reports, plane tracking, and weapons contracts examined during a year-long investigation reveal how the munitions were sent east from Bosnia, Bulgaria, Croatia, Czech Republic, Montenegro, Slovakia, Serbia and Romania.
The next European project must make a compelling offer to all European citizens, one that goes beyond nation-state affiliation. It must be based on the principle that all European citizens have political equality: in elections, before the law and in taxes. Cicero called this ius aequum. A government for the people and by the people. A nation state is not the only frame for a democracy. Continue reading
We have a chance now to build Another Europe in which we work with socialists across the EU to end austerity and take on those who attack workers’ rights and avoid taxes.
This is not anti-business. It’s anti-freeloader. If we allow these practices to continue they will undermine the foundations on which all genuine wealth creation is built. It will create an environment that benefits rent-seekers over wealth creators. It is time we brought an end to the new age of the robber barons. The health of our economy demands it.
The central nuclear observation of the report is thatNATO nuclear forces do not have much credibility in protecting the Baltic States against a Russian attack.
That conclusion is, to say the least, interesting given the extent to which some analysts and former/current officials have been arguing that NATO/US need to have more/better limited regional nuclear options to counter Russia in Europe. Continue reading
“The world is over-armed and peace is under-funded.” — Ban Ki-moon
Statement on the Global Day Against Military Spending (GDAMS), 13 April 2015, part of the Global Campaign on Military Spending (GCOMS). The aim of the campaign is to raise awareness of military spending and alternatives.
Across the EU, governments spend a total of 255 Billion euro on the military. This is grossly excessive and contributes to insecurity for many people around the world.