Are you a Europhile or a Eurosceptic when it comes to the issue of European integration?
I don't know what that means so I don't know.
I can't really say I'm either. I don't care much what they do in Europe.
It's important because it effects us. EU countries are close trading partners with the United States. A serious recession and/or EU breakup has a direct impact on our economy.
I would tend to disagree with that premise. A break of up the EU would not stop the flow of goods and services between us. It would simply change the terms and currency exchanged. Our trade is far more tied to Asia than Europe these days.
That assumes a smooth breakup and transition, which is unlikely.
Also, the inflation that would be experienced in countries like Italy, Greece, and Spain combined with the deflation in Germany, Netherlands, Finland, etc. when they all go back to
individual currencies would completely throw off the balance of trade. For example, many goods that Germany currently exports would no longer be profitable to export and many goods that Spain imports would no longer be imported.
And that's not even considering the fact that negotiations for the Transatlantic Trade and Investment Partnership (TTIP), which could potentially bring in hundreds of billions of dollars per year, would fall apart.
I'm a skeptic. I don't think European nations are willing to cooperate in the long term on issues aside from economics. That's why we are seeing the rise of Euroskeptic political parties in those nations.
It's in Europe's own best interests to cooperate. The Eurozone would work much better if the PIIGS got their own currency separate from the rest and both had a more centralized monetary policy.
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