NEWS: Germany, France Want Revised Euro Deficit Plan

Both Germany and France have issued a joint proposal that would allow bigger budged deficits with the European Union. Currently deficits are limited to 3 percent of gross domestic product to help keep the Euro currency stable. Both countries have broken the deficit limits in the last three years.



Its must be awfully nice that Germany and France can simply rewrite the E.U. rules at a whim. Will Poland or say Turkey be given the same courtesy? Doubtful. Both governments also expressed thier opposition to E.U. rules that allows free movement of services. This seems to be a dig an newer Eastern Europe countries that have lower labor costs. Either you want a true union or not. Keep fudging the requirements and who knows where it shall end.

The "biggest" dog makes the rules, isn't that the "pack" mentality that applies here?

Wait til one tries to convert the EU to the united states of France or Germany....................

I guess they never thought of just reducing spending instead of raising the limit.

They should keep it at 3% and learn to deal with it.

Originally posted by AceOfBase
I guess they never thought of just reducing spending instead of raising the limit.

They should keep it at 3% and learn to deal with it.

Especially considering that they wrote the limits in the first place.

Ever more, the EU shows it's instability. It was a moneymaking scheme from the start-never really addressing social concerns or the growth of the people. It was a socialist idea from socialist nations, the largest cartels getting together and deciding how to create more profit. Forcing taxes to subsidize industries that would have tanked badly without support, allowing them to knock out worldwide competition by selling goods at a massively unsustainable level (Airbus, anyone?)

With the constant incidents of EU member-states defrauding the rest of the Union in their economic reporting, to these increasing deficit numbers, the eventual fate of the EU is revealed. Those in charge will reap the profits, and if they're lucky, get away before war tears Europe apart again. Forced redistribution of wealth hasn't worked before and isn't working now.

And the people, the workers, farmers, family members..they're the ones paying the price. In taxes, and soon, in blood. Just like the last two world wars.