Jun 01 2005
The cause of deeper integration may not just be stalled but could actually retreat as the heads of 25 nations must rethink a “more perfect union”. The French failure and likely Dutch government failure to ratify the constitution may have significant political, economic and military implications for the rest of the world.
Mr. Chirac’s second goal is to protect the French socialist system, which includes 35 hour work weeks and social benefits that are richer than most, if not all, in the EU.
With 10.2% unemployment in France and a projected growth rate of just slightly over 1% for 2005, compared to the US projection of 3.6% growth The impact the “No” vote will have on the rest of Europe and the goal of political integration will be played out in the coming months and years.
While the analysis is quite good, I am not sure all of these negative results will come true or will be as severe as they are portrayed. Until Europe deals with its failed economies and socialist policies they will continue to fall behind the US. The EU needs to scrap that disaster of a constitution and generate one that allows for direct elections of an EU government in line to what we have in here in the US. It then needs to have some frank discussions with its people so they begin to understand their cushy little world cannot survive in a cocoon in this global market place.
There will be more turmoil required before the people see the light. But will the European leaders have the spine to tell the people like it is?