Re: Euro. Union: Resolution for a debate.

[James Devine <jdevine@xxxxxxxxxxxxxxx>]

>Terence Murphy writes:
>      Resolved: The Europen Union  needs the Economic and Monetary Union
>now; and its purpose should be to reach sustainable employment and wage
>levels as defined by contemporary cultural and political contexts. Price
>stablility is a matter of equal priority.

but the way in which the EMU is being formed seems to be going _against_
high wages and employment. Europe seems to be submitting itself to
austerity programs (without the helping hand of the IMF) in order force
itself into a Union.

Are there previous cases in history, BTW, where unification of currencies
preceded the establishment of a unified state?

I am sorry if these questions have already been asked. I just rejoined PKT
after a couple of years' absence.

Jim Devine jdevine@xxxxxxxxxxxxxxx &
http://clawww.lmu.edu/Departments/ECON/jdevine.html
"A society is rich when material goods, including capital, are cheap, and
human beings dear."  -- R.H. Tawney.