Word: eurolandã
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Nonetheless, the prospects for both the Euro and the residents of “Euroland?? are rather less rosy than political leaders would have us believe. The struggle to set appropriate interest rates across an entire continent with extraordinarily divergent economic conditions may well prove to be an insurmountable challenge. The notion that a single interest rate could be appropriate for both Germany, which finds itself mired in a deep recession, and an Irish economy that seems on the verge of overheating is fundamentally naive. The choice of which countries’ economies to support is a daunting...
...agriculture and industry, town and country. Even if one accepts this simplistic assertion in its entirety, its proponents have failed to understand the significance of the fact that the United States is one country, whose residents are generally linked by a universal language, heritage and culture. “Euroland?? has no such common identity; it does not even have a proper name...
...United Sates is also bound together by a federal tax code, something that “Euroland?? decisively lacks. Interest rates have profoundly different effects depending on the tax rates in the areas where they apply. This has led Romano Prodi, the President of the European Union, to complain that as long as the EU does not have a standardized tax policy it will be “like a soldier trying to march with a ball and chain around one leg.” Joschka Fischer, the German Foreign Minister was rather more revealing when he said...
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