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December 22, 2011
My argument has been that brought on by the global economic recession, the eurocrisis has been exacerbated by serious faults built into the institutional structure of the monetary union. The non-existence of centralized political control over the European economy combined with lack of democratic legitimacy sets in motion processes that are undermining European solidarity.
This is sobering. One response to the economic crisis and the politics of austerity in Europe is mass migration. Melbourne, Australia is a favourite destination for Greeks.
They--the highly educated young Europeans have realized that Europe is headed for a long, dark tunnel of economic hardship--two decades or generations. In economic terms, Europe is not going to have the weight it used to. So they have little choice but to go aboard.
The collapse of the European Union is possible.The signs are there in the turn to nationality--the Eurosceptics are defenders of the nation state-- as opposed to federalism; a federalism that is increasingly understood in terms of centralization, a European super-state.
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Yes and no, there many negative aspects to the EU project but if asked I am sure the majority of Europeans would wish to preserve the EU for many reasons including mobility which is massive within the EU (and would be difficult if not impossible to dismantle).
Further, with low levels of immigration these younger people maybe needed in future to fill gaps due to ageing populations.