Meela312

alexperezreports:

BRUSSELS DAY 2! @gmfus
We’ve spent the last two days here in Brussels learning about the European Union.
I consider myself a pretty well-informed American, but it’s become clear to me (and the majority of other Fellows on this trip) that there are many elements of the EU that we do not understand.
To help us get a grasp on things, our Fellowship sponsor arranged for us to have meetings with former European Commission representative John Richardson and Journalist Nikolas Busse, who is the NATO and EU reporter for the Frankfurter Allgemeine Zeitung, a well-known German newspaper.
The economic crisis in the EU is on the front page of most newspapers here, and is the top story in all the newscasts I’ve been able to watch so far. Average Europeans without a doubt have a greater interest about what’s happening with the economy, than the interest most americans have with the U.S. economic crisis. Which is actually quite fascinating and admirable, considering the fact that understanding the crisis here seems many times more complicated than in the U.S.
I’ve been watching the coverage of the Wall Street protestors on the Brooklyn Bridge in New York City the last few days, and many here can’t believe it’s taken Americans that long to react and head to the streets and demonstrate.
To understand the EU model it helps to first understand why it exists. When the initial member states joined forces in 1952, there were two main reasons. First, to pursue economic integration—this belief that a common currency and joining of economic hands would make the entire European continent stronger and more sustainable. Secondly, to promote, encourage, and maintain peace. The World Wars, combined with regional struggles for power, figuratively and literally destroyed many parts of Europe. Surprisingly to many, becoming a military super-power was never a goal, attributable perhaps to the numerous wars most of the member states had already experienced.
Unlike the US Constitution, which provides a blue print for states to follow from the federal government, the EU is simply more of a starting point for it’s members. It does not create a “federal government” per se. Each member country maintains it’s own identity, and each “local” or national government agrees to abide by the laws created by the EU. There is however no EU or federal supreme court. So enforcing or taking action among member states, or getting them to comply with an issue, can be a political maze with no exit.
Most here blame the start of the economic crisis on the collapse of Lehman Brothers in the US back in 2008.
While elements of that may be true, it seems the Lehman Brothers meltdown simply put the EU economy under a magnifying glass, and once leaders took a closer look, they realized inflation, overspending, and over-borrowing by member states were all at astronomical levels, and had been so for many years.
Because the EU and US are so financially interconnected finding a solution to correct this crisis has never seemed more important.
What complicates the crisis here is that the EU member states that have been fiscally responsible are now being asked to rescue those member states that have not been. Because each member state still operates independently, and has their own credit rating to worry about, giving away money is not at all appealing to any EU country. It’s like asking the person that sacrifices to put money away into a savings account every week, to help pay the bills of the Vegas gambler who lost all of his money on the slot machines. So—agreeing on how to bailout a country like Greece has been a difficult process. With Spain and Portugal next on the list, the anxiety here only grows. Germany—which has the biggest economy in Europe—is expected to bear the brunt of the rescue, causing many Germans to question whether they’d be better off alone rather than be members of the EU. But because Germany makes much of its money by exporting to other EU countries, stepping away would never be an option. German Chancellor Angela Merkel has vowed to not let any EU country fall into bankruptcy. Finding a solution will without a doubt be a difficult task. But getting the 27 member states to agree on that solution may prove to be an even heftier task.
Some Americans I know may wonder why we should care about this? The fact of the matter is that our country does not operate independently from the rest of the world. As has become crystal clear the last decade, what happens in other parts of the globe—whether we acknowledge it or not, does affect us.
Alright…Just a little after 1am here. Off to bed. Big meeting at NATO Headquarters with guest speakers early tomorrow morning! ———————— Photo above: One of many signs on European Union Campus in Brussels promoting better economic integration.

BRUSSELS DAY 2! @gmfus

We’ve spent the last two days here in Brussels learning about the European Union.

I consider myself a pretty well-informed American, but it’s become clear to me (and the majority of other Fellows on this trip) that there are many elements of the EU that we do not understand.

To help us get a grasp on things, our Fellowship sponsor arranged for us to have meetings with former European Commission representative John Richardson and Journalist Nikolas Busse, who is the NATO and EU reporter for the Frankfurter Allgemeine Zeitung, a well-known German newspaper.

The economic crisis in the EU is on the front page of most newspapers here, and is the top story in all the newscasts I’ve been able to watch so far. Average Europeans without a doubt have a greater interest about what’s happening with the economy, than the interest most americans have with the U.S. economic crisis. Which is actually quite fascinating and admirable, considering the fact that understanding the crisis here seems many times more complicated than in the U.S.

I’ve been watching the coverage of the Wall Street protestors on the Brooklyn Bridge in New York City the last few days, and many here can’t believe it’s taken Americans that long to react and head to the streets and demonstrate.

To understand the EU model it helps to first understand why it exists. When the initial member states joined forces in 1952, there were two main reasons. First, to pursue economic integration—this belief that a common currency and joining of economic hands would make the entire European continent stronger and more sustainable. Secondly, to promote, encourage, and maintain peace. The World Wars, combined with regional struggles for power, figuratively and literally destroyed many parts of Europe. Surprisingly to many, becoming a military super-power was never a goal, attributable perhaps to the numerous wars most of the member states had already experienced.

Unlike the US Constitution, which provides a blue print for states to follow from the federal government, the EU is simply more of a starting point for it’s members. It does not create a “federal government” per se. Each member country maintains it’s own identity, and each “local” or national government agrees to abide by the laws created by the EU. There is however no EU or federal supreme court. So enforcing or taking action among member states, or getting them to comply with an issue, can be a political maze with no exit.

Most here blame the start of the economic crisis on the collapse of Lehman Brothers in the US back in 2008.

While elements of that may be true, it seems the Lehman Brothers meltdown simply put the EU economy under a magnifying glass, and once leaders took a closer look, they realized inflation, overspending, and over-borrowing by member states were all at astronomical levels, and had been so for many years.

Because the EU and US are so financially interconnected finding a solution to correct this crisis has never seemed more important.

What complicates the crisis here is that the EU member states that have been fiscally responsible are now being asked to rescue those member states that have not been. Because each member state still operates independently, and has their own credit rating to worry about, giving away money is not at all appealing to any EU country. It’s like asking the person that sacrifices to put money away into a savings account every week, to help pay the bills of the Vegas gambler who lost all of his money on the slot machines. So—agreeing on how to bailout a country like Greece has been a difficult process. With Spain and Portugal next on the list, the anxiety here only grows. Germany—which has the biggest economy in Europe—is expected to bear the brunt of the rescue, causing many Germans to question whether they’d be better off alone rather than be members of the EU. But because Germany makes much of its money by exporting to other EU countries, stepping away would never be an option. German Chancellor Angela Merkel has vowed to not let any EU country fall into bankruptcy. Finding a solution will without a doubt be a difficult task. But getting the 27 member states to agree on that solution may prove to be an even heftier task.

Some Americans I know may wonder why we should care about this? The fact of the matter is that our country does not operate independently from the rest of the world. As has become crystal clear the last decade, what happens in other parts of the globe—whether we acknowledge it or not, does affect us.

Alright…Just a little after 1am here. Off to bed. Big meeting at NATO Headquarters with guest speakers early tomorrow morning!
————————
Photo above: One of many signs on European Union Campus in Brussels promoting better economic integration.

Source: alexperezreports

Meela312

In pursuit of "self-defense"

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WhatGoesHere ;)

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http://www.complex.com/music/2011/08/aziz-ansari-explains-his-role-in-the-otis-video

wolf in sheeps clothing…