



Arguments in favour of the Euro and a Federal Europe I - from Scotia 27/08/00
[another Scotia list member stated]Hmmm ... I see no point in getting out from under Westminster just to walk into Euroland. To me, Independence is just that, not isolationism of course but not in any one's pocket either.
The main argument for the Euro is a pragmatic economic one which has nothing to do with being in anyone's pocket. If Europe is to be a free trade zone with free movement of labour, goods and capital then it is inherantly wasteful to have 15 separate national currencies in use as the currency transactions wastes billions in bureacratic red tape while the US has a common currency for its 50 states. For Europe to compete with the US economically in a lot of fields it needs to have a single currency and a single 320 million {?} market block rather than being balkanised into 15 separate national economies. The key to making this work in a culturally and linguistically diverse continent is the principle of subsidiarity which is all about keeping real political power in the hands of people at the grass roots level (rather than having the single monolithic European superstate that Eurosceptics fear as they can often only picture things in terms of the traditional UK model of governance) by maintaining a highly decentralised federal system of government that ensures that the local, regional, national and European levels of government carry out only those functions that they are best suited for to maintain full democratic accountability.