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April 21, 2014

Andrew Silow-Carroll: Passoverkill? Suggestions to make next year's seders even more culturally sensitive

Sara Israelsen Hartley: Seeking the Divine: An ancient connection in a new context

Christine M. Flowers: Priest's execution in Syria should be call to action

Courtnie Erickson: How to help kids accept the poor decisions of others

Lizette Borreli: A Glass Of Milk A Day Keeps Knee Arthritis At Bay

Lizette Borreli: 5 Health Conditions Your Breath Knows Before You Do

The Kosher Gourmet by Betty Rosbottom Coconut Walnut Bars' golden brown morsels are a beautifully balanced delectable delight

April 18, 2014

Rabbi Yonason Goldson: Clarifying one of the greatest philosophical conundrums in theology

Caroline B. Glick: The disappearance of US will

Megan Wallgren: 10 things I've learned from my teenagers

Lizette Borreli: Green Tea Boosts Brain Power, May Help Treat Dementia

John Ericson: Trying hard to be 'positive' but never succeeding? Blame Your Brain

The Kosher Gourmet by Julie Rothman Almondy, flourless torta del re (Italian king's cake), has royal roots, is simple to make, . . . but devour it because it's simply delicious

April 14, 2014

Rabbi Dr Naftali Brawer: Passover frees us from the tyranny of time

Greg Crosby: Passing Over Religion

Eric Schulzke: First degree: How America really recovered from a murder epidemic

Georgia Lee: When love is not enough: Teaching your kids about the realities of adult relationships

Cameron Huddleston: Freebies for Your Lawn and Garden

Gordon Pape: How you can tell if your financial adviser is setting you up for potential ruin

Dana Dovey: Up to 500,000 people die each year from hepatitis C-related liver disease. New Treatment Has Over 90% Success Rate

Justin Caba: Eating Watermelon Can Help Control High Blood Pressure

The Kosher Gourmet by Joshua E. London and Lou Marmon Don't dare pass over these Pesach picks for Manischewitz!

April 11, 2014

Rabbi Hillel Goldberg: Silence is much more than golden

Caroline B. Glick: Forgetting freedom at Passover

Susan Swann: How to value a child for who he is, not just what he does

Cameron Huddleston: 7 Financial Tasks You Should Tackle Right Now

Sandra Block and Lisa Gerstner: How to Profit From Your Passion

Susan Scutti: A Simple Blood Test Might Soon Diagnose Cancer

Chris Weller: Have A Slow Metabolism? Let Science Speed It Up For You

The Kosher Gourmet by Diane Rossen Worthington Whitefish Terrine: A French take on gefilte fish

April 9, 2014

Jonathan Tobin: Why Did Kerry Lie About Israeli Blame?

Samuel G. Freedman: A resolution 70 years later for a father's unsettling legacy of ashes from Dachau

Jessica Ivins: A resolution 70 years later for a father's unsettling legacy of ashes from Dachau

Kim Giles: Asking for help is not weakness

Kathy Kristof and Barbara Hoch Marcus: 7 Great Growth Israeli Stocks

Matthew Mientka: How Beans, Peas, And Chickpeas Cleanse Bad Cholesterol and Lowers Risk of Heart Disease

Sabrina Bachai: 5 At-Home Treatments For Headaches

The Kosher Gourmet by Daniel Neman Have yourself a matzo ball: The secrets bubby never told you and recipes she could have never imagined

April 8, 2014

Lori Nawyn: At Your Wit's End and Back: Finding Peace

Susan B. Garland and Rachel L. Sheedy: Strategies Married Couples Can Use to Boost Benefits

David Muhlbaum: Smart Tax Deductions Non-Itemizers Can Claim

Jill Weisenberger, M.S., R.D.N., C.D.E : Before You Lose Your Mental Edge

Dana Dovey: Coffee Drinkers Rejoice! Your Cup Of Joe Can Prevent Death From Liver Disease

Chris Weller: Electric 'Thinking Cap' Puts Your Brain Power Into High Gear

The Kosher Gourmet by Marlene Parrish A gift of hazelnuts keeps giving --- for a variety of nutty recipes: Entree, side, soup, dessert

April 4, 2014

Rabbi David Gutterman: The Word for Nothing Means Everything

Charles Krauthammer: Kerry's folly, Chapter 3

Amy Peterson: A life of love: How to build lasting relationships with your children

John Ericson: Older Women: Save Your Heart, Prevent Stroke Don't Drink Diet

John Ericson: Why 50 million Americans will still have spring allergies after taking meds

Cameron Huddleston: Best and Worst Buys of April 2014

Stacy Rapacon: Great Mutual Funds for Young Investors

Sarah Boesveld: Teacher keeps promise to mail thousands of former students letters written by their past selves

The Kosher Gourmet by Sharon Thompson Anyone can make a salad, you say. But can they make a great salad? (SECRETS, TESTED TECHNIQUES + 4 RECIPES, INCLUDING DRESSINGS)

April 2, 2014

Paul Greenberg: Death and joy in the spring

Dan Barry: Should South Carolina Jews be forced to maintain this chimney built by Germans serving the Nazis?

Mayra Bitsko: Save me! An alien took over my child's personality

Frank Clayton: Get happy: 20 scientifically proven happiness activities

Susan Scutti: It's Genetic! Obesity and the 'Carb Breakdown' Gene

Lecia Bushak: Why Hand Sanitizer May Actually Harm Your Health

Stacy Rapacon: Great Funds You Can Own for $500 or Less

Cameron Huddleston: 7 Ways to Save on Home Decor

The Kosher Gourmet by Steve Petusevsky Exploring ingredients as edible-stuffed containers (TWO RECIPES + TIPS & TECHINQUES)

Jewish World Review July 10, 2012/ 20 Tamuz, 5772

Make the Euro A Joking Matter

By Paul Johnson





http://www.JewishWorldReview.com | Why is the global economy finding it so difficult to emerge from the crisis of 2008? Increasingly the evidence points to that huge bureaucratic monstrosity, the European Union, as the source of the trouble.

During the past two years EU leaders have held numerous summit meetings, including tête-a-tête encounters between Germany’s chancellor, Angela Merkel, and France’s former president, Nicolas Sarkozy. All were hailed as make-or-break opportunities to “save” the euro. All failed. Meanwhile, most of Europe is sinking deeper into stagnation or industrial decline and experiencing rising unemployment and psychological despair.

The EU’s failure is affecting the rest of the world. China’s exports are suffering and its economy faltering because of the drop in demand from the EU, its biggest single market. The U.S., which has been enjoying a natural recovery, is feeling a knock-on effect from EU weakness. Britain is also complaining.

There are two chief reasons for the euro zone mess. A strategic error was made in creating the euro as a common currency without aligning its members’ financial and fiscal policies. Without a submergence of sovereignty some members, especially the weaker and more extravagant ones to the south, were bound to exploit their membership through reckless borrowing.

Greece, Portugal and Ireland were flagrant and obvious examples. Spain ­recently emerged as an even more extravagant case. And under its socialist ideologue president, François Hollande, France will soon be joining Spain.

The only remedy for this folly is strong leadership by those in charge of the EU. In practice, this means Germany. But Chancellor Merkel has been brought up to believe that the two world wars were essentially “German wars,” caused by Germany’s attempt to boss Europe around. So leadership is the one thing Germany can’t afford to exercise. The stronger it is in relation to the rest of the euro zone, the more Merkel must refrain from telling the others what to do—a self-induced moral paralysis.

Hence, whatever now happens on the European continent will not be planned. The likelihood is that the euro zone’s weaker members will be forced out one by one. This ragged and unpredictable process will be accompanied by market shocks, bank failures and rising unemployment in all countries. This is a formula for economic disaster, to be followed by the rise of political extremism, especially on the right.

With Germany—Europe’s strongest economy—flatly refusing to lead there’s not much hope that Britain, strangled by a coalition, will satisfy the deficiency. In order to stay in office David Cam­eron has to keep his Liberal Democrat allies content, and they are fanatical “Europeans,” who refuse to see that the EU cannot work because it is too bureaucratic and doctrinaire.

As long as America continues to have a weak and indecisive Administration, we can expect no resolute lead from Washington, either. Mitt Romney has yet to establish himself as a world figure, but he has an opportunity this summer and autumn to make the recovering U.S. economy—by far the world’s largest—pull its weight again.

The U.S. has the wonderful ability to speedily transform itself from a state of intense pessimism to one of vigorous optimism. I remember the dark days of the 1970s, when the enforced resignation of Richard Nixon and the stagnant years of Gerald Ford’s and Jimmy Carter’s presidencies combined to drive America’s admirers to near despair.

But then came the advent of Ronald Reagan. Within weeks of Reagan’s entering the White House America’s pulse was racing, there was a new sense of purpose and the Administration began acquiring the decisiveness and authority that became its hallmarks.

The recovery of America’s characteristic self-confidence was a political miracle. If Mitt Romney is elected the same thing could again happen. And it needs to happen for the world economy to get back on track to expansion. Then old Mother Merkel can tag happily along in Romney’s wake, and the fate of the euro will descend to its natural level: an expensive joke.

Every weekday JewishWorldReview.com publishes what many in the media and Washington consider "must-reading". Sign up for the daily JWR update. It's free. Just click here.


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Previously:


04/17/12: Silent witness
03/13/12: To pick an American President
12/13/11: American Culture Rides High
10/20/11: Who Can Lead Us To Safety?
08/23/11: Wanted: Global Role Models

07/05/11: Debt: A Moral Issue

06/08/11: The Moral Logic of Intervention
03/10/11: China's Secret Weakness: Is history repeating itself?
02/10/11: Assessing America's Foes
11/29/10: Wanted: Someone to Trust
10/19/10: Are Universities Worth It?
06/01/10: The English Language and Freedom
04/20/10: Listening and Telling the Truth
02/28/10: There Is No Keynesian Miracle
10/20/09: A Job Waiting for a Woman?
07/21/09: Obama Has to Be World Sheriff
03/24/09: Short works of genius that cheer up the writing profession
02/11/09: What would Darwin do?
01/27/09: Are you sophisticated? Here's how to find out
01/06/09: What did they talk about in the Ice Age? The weather, of course
09/09/08: Time, and our appalling ignorance of it
08/19/08: Eye-stopping glimpses of an exotic and forbidden world
06/30/08: How to fill a lecture hall, and how to empty it
06/23/08: Americans should count their blessings
05/20/08: Pajamas for Presidents
05/13/08: Literary woodlice boring needless holes in biographical bedposts
04/01/08: When markets come crashing down, send for the man with the big red nose
04/01/08: Quality for dinner. Pass the Fairy Liquid, Old Boy
03/25/08: In search of an American President with brains and guts
03/18/08: Technological warfare against mice won't work. Try cats
03/11/08: What is a genius? We use the word frequently but surely, to guard its meaning, we should bestow it seldom
03/03/08: Fiction as a crutch to get one through life
02/26/08: Impatience + Greed = Trouble
02/13/08: Shakespeare, Neo-Platonism and Princess Diana
02/07/08: Where Industry Has Failed Us
12/19/07: People who put their trust in human power delude themselves
12/12/07: What is aggression?
12/04/07: Pursuing success is not enough
11/07/07: Are famous writers accident-prone?
10/31/07: Courage needed to disarm Iran
09/20/07: Who Will Say ‘I Promise to Lay Off’?
07/24/07: Greed is safer than power-seeking
04/02/07: Benefactors must be hardheaded
03/07/07: American idealism and realpolitik
11/28/06: Space: Our ticket to survival
10/24/06: Envy is bad economics
10/11/06: Better to Borrow or Lend? Rethinking conventional wisdom
08/22/06: Don't practice legal terrorism
08/08/06: A summer rhapsody for a pedal-bike
08/03/06: Why is there no workable philosophy of music?
07/11/06: Historically speaking, energy crisis is America's opportunity
07/06/06: The misleading dimensions of persons and lives
06/06/06: First editions are not gold
05/23/06: A downright ugly man need never despair of attracting women, even pretty ones
04/25/06: Was Washington right about political parties?
04/12/06: Let's Have More Babies!
04/05/06: For the love of trains
03/29/06: Lincoln and the Compensation Culture
03/22/06: Bottle-beauties and the globalised blond beast
03/15/06: Europe's utopian hangover
03/08/06: Kindly write on only one side of the paper
02/28/06: Creators versus critics
02/21/06: The Rhino Principle

© 2009, Paul Johnson

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