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Michael Gerson: Europe seems ready to kick Greece out of Euro

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  • worf Mcallen, TX
    May 21, 2012 4:54 p.m.

    Let's raise the taxes on the rich, if there's any left, and try another stimulus.--Barack Obama

  • Gildas LOGAN, UT
    May 21, 2012 4:23 p.m.

    Europe is a monetary union without being a fiscal union.
    QUOTE

    Oh, come on! We deserve better than this. Surely a syndicated writer quoted from an article in a well-known, supposedly intellectual, newspaper should be expected to know a few basic facts before 'sounding forth'.

    "Europe" is not a monetary union!

    There are, I believe, some fifty nations or political units in Europe today. Of these only about a third (17 nations) are in the "eurozone" (the monetary union of nations which have adopted the Euro as their sole currency). Of the 27 member nations of the EU (European Union, not the same as the "eurozone") therefore, ten of these member nations, as well as half of Europe's population at large, have not adopted the Euro as their common currency.

    So two-thirds of the European nations are not in the "monetary union" and almost a half are not even in the European Union. The so-called ‘Eurozone’ makes up less than half of the population of Europe.

    Europe is no kind of a union, and certainly not a "monetary" one.