Economic crisis threatens the idea of one Europe

[katty]

more: http://www.iht.com/articles/2009/03/01/europe/union.php

Economic crisis threatens the idea of one Europe
By STEVEN ERLANGER and STEPHEN CASTLE Published: March 1, 2009

The leaders of the European Union gathered Sunday in Brussels for an emergency summit meeting designed to tamp down the centrifugal forces unleashed by the global economic crisis that threaten to spin the bloc - and its single currency - apart.

In a statement afterward, the leaders tried to reassure their publics, promising to hold to the single market, promote growth and reject protectionism.

A call from Hungary for a large bailout for newer, eastern members of the union was rejected by Germany, the richest EU nation, and received little support from other countries.

Prime Minister Ferenc Gyurcsany of Hungary warned of "a new Iron Curtain" dividing Europe, even if the metal today was gold. He called for a special EU fund of up to €190 billion, or $241 billion, to protect the bloc's weakest members.

[Idealism]

1. Eastern Europe is about to collapse and implode.

The French and Germans could give two shits about these ex-Soviet satellites. Latvia is already bankrupt and defaulted, even after billions worth of IMF loans. Poland will be next. A new Warsaw Pact may emerge from this if there is more indifference from the EU.

[katty]

2. yes, it is-the eastern Euro countries w/be even more vulnerable

to whichever way the wind is blowing

[Still Sensible]

3. It seems pretty short sighted for the EU to so blithely

cast aside the pleas from the Eastern Europeans. Strategically, they could turn to their other potential benefactor, Russia, and that could create any number of issues down the road. Even some token help from the EU could probably prevent that. Everybody knows Putin would like nothing better than to revive the old sphere of influence for Russia.

[katty]

4. i know, concur with yr comments