European economy suffered from the greatest fiasco in history

European economy is in the trap

In brief: European dream was shattered after the American dream, all the projections of the economic recovery of Europe are unfounded.

When at the end of last year, was finally adopted the Lisbon Treaty, some European leaders have allowed themselves to dream about a new world order in which the European Union has finally acknowledged world superpower, standing alongside the U.S. and China. In recent weeks, Europe really attracts attention, but for another reason. Rather than admire the dynamism and power of the EU, all countries with interest and watched in horror unfolding in Europe, the economic crisis.

Observing from Washington or Beijing for trying to save the Euro – it’s like to see a car crash on the other side. It’s unpleasant to witness such an event, but also terrified that you will touch flying bullet. Do observers in America and Asia have every reason to fear the contagion of the banking sector and sovereign debt across Europe. Even a long period of low demand in the EU – all countries which form the largest economy in the world – may prevent the restoration of the world economy. Naturally, international attention has primarily focused on European countries in crisis. But there are broader, though less obvious political implications. Everyone can laugh at the vain attempts of the authorities in Brussels. One thing is clear – the EU is fighting for something really important on the world stage. Europe represents not the power in its usual sense and the power of the idea – the European dream. One Europe – is a beacon of hope for supporters of globalization and closer cooperation among States, as well as for those who favor the establishment of international law. If after 60 years of relentless pursuit of the integration experiment a failure, European ideas will suffer a heavy defeat, losing a place opposite concepts: the rule of power over the law, the superiority of the nation state and authoritarianism. Among the supporters of the European dreams are not only little-known professors from American liberal arts colleges, but many others. Dream fascinates the Prime Minister of Japan and the U.S. president. Shortly before taking office, Prime Minister of Japan, Yukio Hatoyama advocated the establishment of pan-Asian currency on the euro and the model considered the defenders of the European Union for its instigators. President Barack Obama is more restrained in expressing his admiration for the European model. Big power and limitations of American policy impose strict framework, for which he can not leave, following the example of Europe. Nevertheless, the Obama administration spends closer to “European” internal and foreign policies than the Bush administration. Europe welcomed the reform of the health care system Obama. Compared with the often openly contemptuous attitude of the Bush administration’s policy initiatives, the conduction evroidami “(so ironically called Europeans John Bolton, President Bush’s ambassador to the EU), the Obama administration is set up much friendlier. Currently, the Department of Policy Planning at the Ministry of Foreign Affairs – in the old days led by geniuses such as George Kennan and Francis Fukuyama – directs Anne-Marie Slaughter, an expert on international law, which states that the foreign policy of the Obama administration is based on the belief that the U.S. is no longer able to solve alone the world’s major challenges such as climate change and nuclear proliferation.

International cooperation was needed. Arguments of this kind have often heard from Brussels, but during the Bush years are not particularly popular. However, the European economic crisis has complicated the lives of Americans and Asians, which led Europe in the example to the world. Last week I met with the Japanese company employee, who laughed out loud when he heard that the Prime Minister of Japan, once amounted to Europe as a model. The U.S. conservatives have decided to use the European budget crisis to their advantage, arguing that the proposed change to Obama’s “socialism” European type bankrupt America. While supporters of the EU discourage attacks, Eurosceptics are gaining strength. Head of the Centre for European Reform Charles Grant, an ardent supporter of the European Union, says that he was greatly impressed by the growing disdain for Europe in New Delhi, Beijing and Washington. “They believe that the EU is doomed to constant economic and demographic decline, so our attempts to gain power makes a mockery” – he complains. Several years ago an American writer Jeremy Rifkin has published a book entitled “The European Dream”, which is done in Brussels on a lot of noise. In it, Mr. Rifkin, who also wrote – and perhaps not by chance – the book “The End of work”, argues that Europe – a model of the future. “The American spirit is weakening, but at this time born a new European dream. This dream is far more suited to further the development of mankind, which must develop in our global consciousness, corresponding to the growing interdependence of the world.” – He writes. Reading these lines, I do not know whether to laugh or cry me.

Ukrainian Globalist
2010-05-21 23:05, Economics.

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