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Eurosceptic Bloggers

Friday, March 17, 2006

Those Eastern Lemmings

Its interesting to see the newer member states keeness to join the Eurozone. After 6 years of existence, the Euro has neatly demonstrated why it was always a bad idea. One size fits all just doesn't work. Yet like Lemmings over a cliff, new candidates keep coming:

Lithuania became the second east European nation to apply to adopt the euro in 2007.
The first was Slovenia, which is in a better position to be accepted.
Only Slovenia passes all the economic tests, with inflation at 2.4 percent in February.
So maybe only one Lemming will make the leap.

4 comments:

chris said...

They could be in for a shock, I have read one post claiming to quote Sir Alan Walters, Margret Thatchers personal economic adviser, that the Euro will collapse around 2007.

Jarmille said...

Well, sadly, the new member countries have no choice - they could have entered the EU only under the condition that they would adopt Euro as soon as possible after their accession...

Serf said...

Jarmille

That may be true, but some of them are far too eager. Dragging your feet is not that difficult.

John East said...

Chris,
A story in the Telegraph last year claimed that a CIA report has predicted the collapse of the Euro before 2020.
Typical American optimism, that it should last so long. I prefer your 2007 prediction.