Currency Valuation Is Ineffective and Dangerous

Currency valuation is ineffective and dangerous

* other EU member states should not be made to bear the cost of their neighbours’ political preferences.

* it is the right of a democratic Greek state to govern itself however its people choose

The EU must abandon the Euro in order to avoid the risk of being seen as dictatorial and de facto federalist. It must abandon the Euro in order to allow its member states the political and cultural freedom that the union was intended to safeguard, while protecting other members states from the effects of political nonconformity.

It is disingenuous for side opposition to claim that states have a right to seek funding for their activities by taking on debt that they have no ability to repay.

The EU has a mandate to reform the fiscal politics of member states

* We will return to the example of Greece. Attempts by the current Greek government to reduce spending and increase tax revenues have been met with universal condemnation by the Greek people. Civil disorder and disobedience is now so widespread and pernicious that even Greece’s tax collectors are contemplating strike action.

While the EU exists to facilitate understanding, trade and dialog between its member states, it is not in the business of quashing dissenting political viewpoints, nor does it seek to promote a neoliberal monoculture.

An economic crisis in one European country- including a default- would reduce the confidence of international markets in the stability of the Euro itself, and would also expose other Eurozone member’s banks to severe losses. This is likely to have an adverse effect on the value of the Euro, damaging more productive economies and countries that deal with their debts in a responsible fashion.

Abolishing the Euro will cause capital flight

* It is entirely appropriate that capital flight take place after the abolition of the Euro. The rapid and wide-spread uptake of the Euro between 1999 and 2007 caused many banks to begin...