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As much as these countries like to pretend they are the A-Team and go gung-ho into things because “it sounded like a good idea, and we’ll weed out all the problems as we go along,” I think the economic implications would likely be highly disastrous.

First establish a regulatory commission with a decent sized public civil service. Let them research what needs to be done to insure this monetary union works, i.e. issues of corruption, reporting, accountability, transparency etc.

Once they do that, they need to figure out the necessary standards, legislate them into the body, and force other countries wanting to join the union to legislate those changes into the law and implement them into their institutions and societies. The EU set a great example of how to get one of these unions working by first establishing large legislative standards (most of which went far beyond simple economics) that had to be adhered to before a country could join their Union.

A touch&Go economic Union is going to be a headache for everyone and will yield a massively corrupt and unbalanced playing field that can only increase any ill feelings countries may have to one another.

And it can’t stop with one regulatory commison. You need oversight committees, ombudsman, and other large beurocracies to insure that this functions and functions fairly to all those involved.

Where does it stop after that though, an economic union is fine if we put it into action, but I just hope it doesn’t transalate into eventual demands that Sharia Law precede positive law, or otherwise. What about countries that are frequent human rights offenders (or at least worse then the rest), how are they to be treated… what about state monopolies and subsidies on certain industries…. … god this is a disaster waiting to happen if these guys don’t get their acts together.

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“Spinified” sounds much cooler though :w00t:

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