Maastricht Treaty revisions needed?

[eppie]

Hi,

You believe it is a myth that the Government of a very large nation can spend public money to stimulate the economy in one tiny part of that nation by taking money from elsewhere? Because that's all I'm suggesting.

I think he just pulled out the wrong soapbox by mistake.

--Pete

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Hi,

Can you share a common currency without having common practices in how other countries run their finances?

I think you can. You just have to be very strict about abiding the rules, and indeed make sure there are real penalties for those that screw up.

I think you misread his question. Your first sentence says that you don't think common practices are needed. But your second sentence says you think that rules and penalties are needed. OK, then where do these rules and penalties come from? If they come from the individual countries, then you've set the fox to guard the hen house. If they come from the EU. then they are external common practices.

--Pete

Yes then I misunderstood.
I think you need to have rules (targets) controlled by the EU if you want to make a single currency zone work. How the countries reach the target is up to them.