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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: PAST who wrote (30898)	5/27/2005 12:32:40 PM
From: mishedlo	Respond to of 116555

Turmoil as Chirac plots to disregard 'non' vote timesonline.co.uk ============================================================= I do not see where or how he is going to "disregard the vote" In short the headline seems overly "sensational". Everyone seems to think this will be negative for the Euro. I'm not sure it will make a difference. Their 300 page constitution (was it 500 pages?) perhaps Zonder knows, was said to contain all kinds of nonsense that does not belong (I am going to make one up cause I do not rememeber but imagine Cheese price supports in the constsitution for example). I did not read all 300-500 pages, in fact I did not read any of them so I am taking a real stab that might be off base. Yes it will take time to correct, but perhaps its better to throw out the crap and start over. I actually doubt they do that. What is more likely is that France will just keep bringing it up for a vote until it passes. Kind of like school referendums here. I have someone on the Fool that lives in Europe. A couple people actually. I will get an opinion from them. Mish

To: PAST who wrote (30898)	5/27/2005 12:51:01 PM
From: mishedlo	Read Replies (2) \| Respond to of 116555

From Rien on the FOOL..... I have to agree with Roach. I'm not happy with the way things develop in Europe, but that has different reasons. The EU economy seems to be doing fine, even if it could be better (and that is an understatement). What most US based commentators don't see is that europe is "just different" as compared to the US. Europe does not have the capitalist structure like the US (had). We are much more into a capitalist oriented structure with a strong sauce of mutual respect between employers and employees AND a common understanding that we have to look after the weaker elements. This socialist tendency is VOLUNTARY. Which is possibly the main thing that US commentators miss. It is not as if our socialist tendency is forced upon us. However mainstream US observers invariably see this as a weakness. I think it also represents a strength, exactly because it is voluntary. Listening to US commentators, the EU would have been a third world zone by now. Remember all the fuss about the euro?, how soon it would disintegrate?. Well, here it is, and still going strong. (No, I don't like it, but it's here) I would love to do things differently, but a snowball in hell has better chances than my idea's. The trend towards a unified europe will continue, like it or not. A no-vote or not. Best, Rien.