US and EU trade placesPosted: June 1, 2010
For years the US has been the new kid. Europeans have been quick to ridicule the gauche antics of Americans and demonstrate the value of experience and tradition. It’s amusing therefore to watch as the Euro, a currency that would only be in middle school if it were a child, and the EU in general, struggle to find their footing. The Euro’s sudden demise has exposed the lack of union in the European Union and has put it at an awkward crossroads. European heads of state are quick to dismiss any talk of the unwinding of a single currency. It is after all, the most tangible demonstration of the EU to the rest of the world, even if there are some European countries, like the UK, that have not signed up. Yet the price of keeping the Euro could be one that Europeans in countries such as Greece, Spain and Ireland are not prepared to pay. America has dealt with similar issues over its life. Indeed there are often calls by small portions of the population for their state to secede from the Union. Nobody takes such calls seriously though because the US is a truly integrated economic block unlike Europe. Put another way, this is one of the rare occasions where the EU needs to look to the US for experience on how to handle the evolution of its political and societal future.