Originally posted by french frank
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For myself I feel (in hindsight for I did not see it at the time) that the wrong turning in the EU - or formerly EEC/EC - was with the Maastricht Treaty in 1992 which set the member states on a course towards monetary union as a preliminary step towards political union. Up until that time, the EC had been successful in helping to preserve peace in Europe, setting standards in equality and human rights as well as employment protection, and helping redistribution of wealth from the richer member states to the poorer so that countries like Ireland, Portugal, Spain and Greece all saw significant improvements in living standards - and, for three of those countries, the embedding of democratic rule after recent periods of military dictatorship. So perhaps 1991, with the recent liberation of Eastern European countries from effective Soviet or proxy-Soviet domination, was a high point of the European Community.
But Maastricht changed that. Not only did it set the course for highly risky creation of a currency union between economically unequal member states with no fiscal union to allow bailouts of countries in economic crisis, but it was clear that this was part of an overall move towards political integration, which it's highly doubtful was desired by the peoples of the member states. Maastricht set down stringent fiscal requirements of all member countries (and prospective members) to effect convergence towards monetary union - whether or not countries were to proceed to the final stage of joining the euro. Policies promoting open competition were a virtual endorsement of the then fashion for widespread privatisation, and it was hard to see how a government of a country could renationalise a privatised institution without being in breach of those policies (it still is). That to my mind is tantamount to denying the electorate of a country the power to determine the kind of economic and social policies it wishes to be pursued if they are in contravention of the economic philosophy of the EU - an economic philosophy which remains monetarist and some would say neo-liberal.
Where we are now is that after the economic catastrophe of 2008 and several years of savage austerity policies for those eurozone countries left impoverished by that catastrophe we have widespread unemployment and appalling hardship and little prospect of it being alleviated due to the conviction of those with the power and the purse-strings in Europe that their model is right and their medicine is working. And we have a situation in which the overwhelming feeling of peoples around Europe seems to be disillusionment with the EU institutions, which I suspect will be reflected in the elections this month. Europe which had for some decades worked, most of the time, for the good of most of its citizens, now seems to be working mainly for multinationals and the wealthy.
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