|
kustomkarkommando posted:The EAC has also committed themselves to establishing a common currency by 2023, the relative good relations between it's members and increasing economic co-operation on big projects like Kenya's much vaunted Lamu transport corridor makes this seem increasingly more likely - there are of course still political aspirations from it's individual members that may get in the way of implementing the plan and it really isn't off the ground properly yet but it probably is one of the more realistic projects at the moment. How is this plan responding to the Euro's problems?
|
#
¿
Jul 19, 2015 11:31
|
|
|
|
| # ¿ May 11, 2024 05:32 |
|
|
kustomkarkommando posted:After looking up some more detailed policy docs there seems to be a great emphasis on enforcing fiscal discipline bearing the Eurozone issues in mind This is actually worrying. A lack of fiscal discipline isn't the problem with the Eurozone, and the ability of unified currencies to compel fiscal discipline is the cause of its dismal economic performance since 2010. Fiscal discipline is central to the EU establishment's line but, without going into too much detail in the wrong thread, that line is designed to protect European political interests and is largely false. If single currency work elsewhere is still working from that playbook they're setting countries up for the same problems the Eurozone has had. However, 2023 is a long way off, and it could just be a strategic rhetorical focus or an out of date holdover. They have plenty of time to work out just how it will work. If they add structures to deal with different rates of economic development and the need for deficit spending in recessions, they should do better than the Euro.
|
|
#
¿
Jul 19, 2015 14:09
|
|