"As a monetary union represents a lasting commitment to integration which encroaches on the core area of national sovereignty, the EMU participants must also be prepared to take further steps towards a more comprehensive political union."
~Annual Report of the German Bundesbank, 1995 ~

While we liberate Iraq, Europe is busy planning to enslave us

By the time the Iraqi crisis is over, it may already be too late for the Government to stop a political disaster in Europe. The European Union’s first constitution will be a done deal, and, from what we have seen of the text so far, it will usher in a new order that overturns the governing basis of British parliamentary democracy for ever. More »
02-09-03 | 21:14 |

Let Britain Be Britain

The U.S. has no stronger ally than Great Britain, and with a Labor government, no less. But future trans-Atlantic cooperation might hinge on whether or not Britain joins the euro. More »
02-09-03 | 21:13 | 1 comment

Swede and Sour

If Sweden left the European Union and joined the United States we would be the poorest state of America. Using fixed prices and purchasing power parity adjusted data, the median household income in Sweden in the late 1990s was the equivalent of $26,800 compared with a median of $39,400 for U.S. households – before taxes. And then we should remember that Sweden has the world’s highest taxes. The Swedish Research Institute of Trade, who made the study, underlined that Afro-Americans, who have the lowest income in the United States, now have a higher standard of living than an ordinary Swedish household. More »
02-09-03 | 21:10 |

The European Rift Goes Beyond Politics

The European enlargement is turning into a nightmare for the cozy Franco-German alliance that historically dominated the foreign policy of the European Union. The irrefutable sign that the gravity of power is shifting came when three new members of the EU – Hungary, Poland and the Czech Republic – joined Great Britain and Spain in expressing their support for the U.S. policy toward Iraq. Within days, other new members, Slovakia, Latvia, Estonia and Lithuania, joined them. Even aspiring EU members, such as Romania, Bulgaria, Croatia, Macedonia and Albania signed up. More »
02-09-03 | 21:08 |

Is the European Union the new Soviet Union?

I ought to be the happiest man in the universe today after in 1991 my lifelong enemy the Soviet Union collapsed and disappeared. Indeed twenty years ago speaking in Westminster Hall, President Reagan boldly proclaimed the Soviet Union and the communist system to be on the ash-heap of history. At the time his words were greeted at best with disbelief or at worst with mockery but twenty years later even the Communists don’t like to be called by that name any more, while the last General Secretary of the Soviet Government earns his living selling pizza. In reality however, I find very little to celebrate. More »
02-09-03 | 20:39 | 3 comments

Old Europe Is Late For the Capitalist Ball

Old Europe — France and Germany — is suffering through an economic malaise not seen since Jimmy Carter’s America of a generation ago. But we shouldn’t give up on them yet. A quarter century after Margaret Thatcher and Ronald Reagan began their crusades for high-growth economic policies in the U.K. and the U.S., a quiet movement is underway in the old EU for radical economic restructuring. More »
01-09-03 | 23:22 |

Markets Created a Pot of Gold in Ireland

Over the last 10 years Ireland has catapulted from Europe’s economic backwater to the forefront of European economies. More recently Ireland’s economic growth has slowed. Although many observers attempt to attribute Ireland’s success to funds transfers from the European Union, more careful observation shows that Ireland’s success should be attributed to an increasing reliance on free markets. More »
06-06-03 | 20:59 |