Europe

[Alexis]

[Endovelico]

[YMix]

If being a world leader means being an alpha make leading the howling pack, I'm glad the Germans let it pass. Isn't this why Europeans used to look down on the USA for?

[Endovelico]

[Colonel Sun]

[Endovelico]

Col Sun,

As a physicist you probably know little about economics. It's all right. I know nothing about physics.

The original EEC treaty and the present Lisbon Treaty state very clearly that one of the objectives of the union is to foster growth and development for all parties, by means of solidarity and cooperation. Narrowing the development differences among member states is also a stated objective of the Union.

By joining the EEC/EU Portugal gave up all protective measures for its economy, opened wide its borders to foreign goods, knowing that such would make its economy more vulnerable, but trusting that the more developed partners would assist Portugal modernizing its economy and becoming more competitive.

Soon we found out that opening up our economy was compulsory, but assistance was not. As a result we soon faced a significant trade deficit which helped our partners getting richer while putting us in an increasing debt situation. Our problem is not one of mismanagement, it's one of lower development, which cannot be solved overnight. We fulfilled our part in the agreement, our richer partners did not. We may deserve being punished for having been stupid enough to believe our partners, but the way we have been treated, with all sorts of threats, and being subject to punitive rates of interest totally uncalled for and contrary to the Lisbon Treaty obligation of solidarity, is a clear act of economic aggression.

We are not in a position to just leave the EU, nor can we eliminate overnight the causes of our lower competitiveness. But we can - and should - default on our foreign debt until our partners agree to a package of measures directed at speeding up our development and productive investment, and we can - and should - limit the value of our imports to the value of our exports. If we have to lower our expectations and our standard of living, at least we can make sure that our partners will not continue profiting from our misfortune.

[Colonel Sun]

[Endovelico]

[Colonel Sun]

[Najar]

[CgDs]

[Endovelico]

[CgDs]

[Colonel Sun]

[Alexis]

[CgDs]

[Endovelico]

I'm all in favour of making jokes, even about serious matters. But in Europe we are confronted with the lack of honourability by countries which often pretend to be better and more civilized than others. Southern European countries are as much the victims of their own vulnerabilities as of the lack of principles by some of their northern partners. Reminding us that for some people might is right is not something we should accept passively.

[Sparky]

I don't understand where your sense of entitlement comes from. Southern European states have enjoyed EU grants in the billions for decades, and on top of that, unaffordable billions were borrowed by some to fund all manner of projects, perks and enterprises. Don't go casting about for others to blame for your problems - you swindled yourselves.

[Colonel Sun]

[Endovelico]

[Colonel Sun]

Translation: If we had ham, we could have ham and eggs, if we had eggs.

[Endovelico]

[Colonel Sun]

Good analogy. Portugal has indeed managed to blow itself up economically.

However, unlike the indestructible Willy E. Coyote, Portugal will unfortunately experience serious fallout.

[CgDs]

[monster_gardener]