Economic Convergence Quotes

The euro is a sickly premature infant, the result of an over-hasty monetary union.

The global policy shift toward neo-liberalism that took place during the 1980s and 1990s was supposed, according to its proponents, to bring a convergence of living standards of richer and poorer nations. This never actually happened.

I am sure the euro will oblige us to introduce a new set of economic policy instruments. It is politically impossible to propose that now. But some day there will be a crisis and new instruments will be created.

In principle as a philosophy, a model of organising society, Communism has to be respected. As regards the use of certain methods to advance social justice and greater regulation by the state, there are certain methods that are useful. What we need is a new society, a new civilization and convergence of all that is best in both [Communism and Capitalism]

It [the Euro] is a decisive step towards ever closer political and institutional union in Europe. Above all, it is political.

The Golden Straitjacket is the defining political-economic garment of globalization. [...] The tighter you wear it, the more gold it produces.

It's well proved economics that if a country which is rich and a country that is poor come together in global trade, sooner or later the standard of living of the poor country will go up towards that of the rich country.

At the outset of the creation of the euro in 1999, it was expected that the southern eurozone economies would behave like those in the north; the Italians would behave like Germans. They didn't. Instead, northern Europe fell into subsidizing southern Europe's excess consumption, that is, its current account deficits.

The economic union - creating a big common market, like the United States, so that you can compete across borders. There are common rules, regulations, and simplification, and that is still a good reason, too. When they put their monetary union together, that created a rigidity that made it hard for currency fluctuations. They don't really have a solution to that.

We must now face the difficult task of moving towards a single economy, a single political entity .. For the first time since the fall of the Roman Empire we have the opportunity to unite Europe.

Yet, Puerto Rico's economic convergence and political integration with the rest of the nation is in a state of arrest - even though the island has been within the national borders, political system and customs territory of the U.S. for a century.

Prior to 1940, the affluent and the middle class began to converge, but after 1979, the economic gap between the middle class and affluent widened significantly.

Nothing in our time is more interesting than the erstwhile capitalist corporation and the erstwhile Communist firm should, under the imperatives of organization, come together as oligarchies of their own members.

I'm convinced that, in the long term, a monetary union includes a joint debt policy under strict, mutually agreed upon conditions.

I've long believed alas, that in highly organized industrial societies, capitalist or socialist, the stronger tendency is to converge - that if steel or automobiles are wanted and must be made on a large scale, the process will stamp its imprint on the society, whether that me be Magnitogorsk or Gary, Indiana.

Romania and Bulgaria were particularly irresponsible. If they wanted to diminish their chances of joining Europe they could not have found a better way.

New York has been, and will continue to be, a magnet for people from all over the world. This is where the arts, business, research and technology converge to create the world's foremost urban economy.

Then, the specialists themselves, probably believe that in the course of EU expansion, for example, some elements concerning the readiness of some economies to enter the Eurozone have not been taken into account.