Germany's Newest Political Party

... is Euroskeptic.  People are falling out of love with the European project?

Quote of the Day: Political Speech & Political Act in the EU

Food for thought by a French political scientist.  Here's a bit of it:

In Europe, what we say as citizens no longer has any importance, since political actions will be decided at some indeterminate place, a place we cannot situate in relation to the standpoint from which we speak. Everyone knows that the most solemn speech that a people can formulate, a vote by referendum, is a matter of indifference for the European political class, which charges itself with the responsibility of leading the necessary process of the “construction” of a united Europe. The supposed necessity of this process discredits and invalidates all political speech in advance. 

If this process continues—the financial crisis of the euro has put extraordinary pressure on it—we will soon leave behind the regime of representative government and return to one of speechless commandment. The commandment will no longer be that of the state, which at least occupied a place of a certain elevation, but that of regulations. We do not know the source of regulations—only that we must obey them.

Oh, dear.  

Paul Krugman vs. the Baltic

Economist/commentator Krugman gets called on his antipathy to the Baltic nations, something that Estonia already did in magnificent fashion. Is Krugman seriously dumping on the successful Baltic states because they are successful (as opposed to the implosions in southern Europe)?

The Euro Crisis: "a shabby, demoralising slide into darkness"

Life imitates T.S. Eliot: here are a few thoughts on the slow slide into ruin when we're expecting instant apocalypse.  That doesn't mean the ruin is any real.

"Call Me Maybe" Explains the Euro Crisis—Seriously

Hilarious.  A taste of it:

The only thing more maddening than "Call Me Maybe" is the euro crisis. One is a banal string of saccharine statements, punctuated by swift choruses of action. The other is a pop song.

Euro Notes: Quote of the Day on the Spain Bailout

Heh (via Samizdata):

Could Brussels have been taken over by saboteurs, a secret army of eurosceptic infiltrators and spies masquerading as officials? 

I only ask because it now almost seems as if Spain’s bailout was deliberately designed not merely to fail but to inflict maximum damage on the Spanish economy and the entire Eurozone. Rarely have I seen such incompetence.

Euro Notes: Who Thinks They're the EU's Hardest-Working?

Here's an absolutely hilarious link in the Economist.  I've posted the even more uproarious chart from the survey after the fold. Remember this?

Greek Euro Mess Nears Inevitable Conclusion

Here's the blurb:

The Greek euro tragedy is reaching its final act: it is clear that either this year or next, Greece is highly likely to default on its debt and leave the eurozone.

Bonus: the British newspaper choosing to slap a photo of Oedipus Rex on this news story. Meow!

Euro Notes: That Single Currency Is Doomed?

I had my doubts about this entire enterprise, because - as you recall - Milton Friedman predicted that the euro wouldn't survive its first recession.  Of course, perhaps the idea itself of forcing all those nations into a single currency was "an incredibly stupid idea in the first place."  In a nutshell, just look at Greece and Germany.

Euro Notes: Monti and The Italian Job

An unenviable and Herculean task.

Euro Notes: $170 Billion Bailout for Greece

Will it prevent a Greek default?  Everyone hopes so.  Well, you can certainly hope for the best, but the other half of that advice is "but prepare for the worst."  I'm bringing the "train wrecks" tag out of retirement.

Quote of the Day: "little choice but to root for Europe now"?

Some thoughts.  Some other thoughts.

Euro Notes: Credit Rating Downgrades

Uh-oh -- some eurozone countries are getting coal in their stocking this Christmas.  Spain, Italy, Belgium ... you've been very naughty indeed.

Euro Notes: NOW He Tells Us

The architect of the euro currency, Jacques Delors, apparently now says that the thing was doomed from the start.  Well, Milton Friedman did say that the euro wouldn't survive its first major European recession.  I had my misgivings about the whole project, and I take no pleasure really in seeing the eurozone in flames now because it's wrecking the economic lives of millions.  But the fact remains that it's becoming increasingly clear that the euro is fatally flawed.

On a related and ironically timed note, here is a new propaganda video from the European Central Bank "celebrating the first ten years of the euro."  I rather doubt that euro will see another ten years.  Dude, doesn't the ECB have any better to do than churn out propaganda and make video games?  But I digress.  On to the video, which I find unintentionally hilarious, beginning with the choice of Beethoven's "Ode to Joy" as the opening music.  (LOL!)

Euro Notes: Technical Difficulties ...

The trouble with rule by technocrats.  Money quote here:

... one irony here is that many of Greece and Italy’s current woes can be traced back to the original design flaws of the euro itself — which, of course, was dreamed up by unelected experts and policy wonks. Technocrats, even.

Well, DUH.  Meanwhile, the entire idea of unelected technocrats in power -- i.e., rule by unelected expert (or "expert") -- should give us all pause.  The key word is "unelected," boys and girls. More here.


UPDATE:  Commentary by Daniel Hannan:

Euro Notes: German-o-Phobia?

People are upset and all about the eurozone mess, but is lashing out at Germany really the answer?

Euro Notes: Greece and the Eurocrats

Oh, dear.   The slow-motion train wreck that is the Greek catastrophe in recent days has reached the point at which I am compelled to have "train wrecks" as an actual blog post category tag.

Self-evident metaphor.

Euro Notes: Excellent Estonia?

Hey, La Parisienne, maybe we should flee to Estonia if we decide against fleeing to New Zealand.  Look at this great quote from the economics minister:

"But when we had finally escaped from Soviet socialism, we were sick and tired of government centralism. We wanted precisely the opposite in all respects: We wanted a transparent state. A country that isn't constantly intervening, nationalizing businesses, placing a bureaucracy above everything and imposing rules on people in every respect."

LOVE!

Euro Notes: Has the EU Failed?

Hmmmm.

Euro Notes: "the danse macabre of the euro"

The dream becomes a nightmare?