John Gulick: "What do pen-l'ers make of the argument propounded by pro-EMU social democrats that w/o EMU global financial markets will discipline expansionary/welfare initiatives, and at the very least w/EMU some weak version of EC-wide expansionary/welfare initiatives can be achieved, as long as the EC central bank does not resemble the Bundesbank ? I don't necessarily agree with this line of thought, but I do think that simply arguing that social democrats are collaborating with globalization and flexibilization and austerity and so on via the EMU is insufficient. "Marxists" such Germany's Altvater and Spain's Alier have endorsed EMU in accord with the above logic (see upcoming edition of _Capitalism, Nature, Socialism_)." Carl Sandburg who supply the following political insight: "If we had some ham, we could have some ham and eggs, if we had some eggs." The monetarist terms of the Bundesbank were directly integrated into Maastricht and the EMU, weren't they? Sid
