Tuesday, May 17, 2011

Systemics: If finance is to remain global then polities ....

Assuming the validity of the theories about econ-financial contagion at continental and even global levels, if finance is to remain global, then polities must become continental (ie political union in the EU/Europe, South America (UNASUR), Asia (on top of existing efforts such as ASEAN), Africa (African Union), etc.

Even if finance was to become sub-global, ie continental, then polities should have the same (continental) scope.

Hence: Global finance & world trade need continental if not global polities. The G20, the WTO, the UN, etc cannot or have not shown that they can satisfy the need for political balance to eco/fin dimensions.

For EUrope, that means absolute need for (real) political union and no more myths re national sovereignty in these globalised conditions/systemics. Sovereignty can only be achieved at (near) global/planetary or at least continental level.

The sooner political and opinion & thought leaders in Europe and around the world admit that, the sooner the imbalances that affect the lives of people everyday around the world will be addressed.

EUrope is supposed to be ahead of this wave. But in recent years, it has flirted with populist rhetoric and short termism in national political visions.

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BRs
Nick

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