The Euro Must Not Collapse

Dr. Michael LaitmanIn the News (from “‘It is important [for Europe] to keep the single currency for one main reason: Europe needs to compete with … China, India, Russia, Brazil and the United States of America,’ explains Stefano Caselli, an economist at Bocconi University in Milan. ‘The smallest of these countries is nearly as large as the EU, so Europe needs the euro to compete more strongly….’

“This is why it is dangerous to play the breaking of the euro zone. … ‘We will immediately trigger a spiral of rising prices of consumer goods and inflation…’ adds Caselli.

“Financial speculations … require only one thing: Europe has to actually become one nation, where it’s not enough to have a single currency. You need a centralized government, where each state is willing to give up part of its sovereignty, starting with Germany.”

My Comment: There is only one right way: towards a greater integration, to the point of creating a single government. However, this requires preliminary education of the public in the spirit of an integrated society and mutual guarantee.

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