joG
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Let it be enough to point out, that obviously the individual countries had introduced their own and individual sets of social policies which determined large parts and influenced almost all labor law severely in many of the polities. This would have been bad enough without the expanded intrusion of EU law and regulation as the increasingly anemic growth history of a number of the members demonstrates. But that was controllable albeit defectively by national instruments and measures. For instance, when the economy was running poorly its central bank could reduce the interest rate and push the economy forward or increase the rate, when inflation was too high for the structure of the individual country. Among others, these instruments were lost to the Deepening EU. This meant that large imbalances built up, internal inflation rates drifted way apart and that the very different economies could no longer react to this or to things called external shocks by economists that effect unequal economies quite differently and require very different reactions and policies. One monetary/currency policy does not fit all.
When an external shock occurred the response could not be effective and millions lost their jobs. But anyway...
As to the Sick Man of Europe theme, there was lost of literature in the mid to late 1990s so you could find some, if you were really interested in the topic. A quite nice piece was one of a number of articles from The Economist that you might want to start your research by reading. It does not cover all bases, but then that is never the case. It is only what people demand not knowing this for lack of reading.
The sick man of the euro | The Economist
When an external shock occurred the response could not be effective and millions lost their jobs. But anyway...
As to the Sick Man of Europe theme, there was lost of literature in the mid to late 1990s so you could find some, if you were really interested in the topic. A quite nice piece was one of a number of articles from The Economist that you might want to start your research by reading. It does not cover all bases, but then that is never the case. It is only what people demand not knowing this for lack of reading.
The sick man of the euro | The Economist