The best achievements of European institutions have all stemmed from removing restrictions—to trade, travel, residency and financial transactions. But for at least 30 years, the EU has mainly been in the business of imposing restrictions on everything from the judicial sentences that national courts can impose to the shape of the vegetables that Europeans get to eat. Stealth Europe transmogrified into Busybody Europe.
Tuesday, May 27, 2014
What's going on in the EU?
All the countries, save Germany (which is doing well because the currency union keeps its exports cheap) have elected anti-EU candidates. There is a lot of speculation about what it all means. I like the WSJ's take:
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The European Union and its history of excessive regulations, tariffs, and subsidies is a study in contradictions. While it was created to specifically tear down economic barriers between European countries, it has rather imposed artificial price ceilings and floors. In this way, it has created a very inefficient economy, keeping assets in low value uses. It is no wonder how many EU member states such as Spain, Greece, and Portugal have been facing dire financial consequences in the past several years. - TZ ESC
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