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April 22, 2005
The EU Falling Apart
"No" vote on EU treaty could bring chaos-Mandelson
I've been doing research on the EU military for a class I'm taking and this has particular relevance and weighs heavily on what I'm doing. France (without a big change) is going to vote no on May 29. The Dutch, who vote on June 1st, are poised to vote no as well but will be largely impacted by the French vote. The constitution (325 pages) needs unanimous approval, but could probably end run a small country if needed. It can't end-run France.
One of the interesting effects will be to watch the value of the Euro. Many have made much remarks that the Euro is outpacing the Dollar and soon going to replace it as the defacto standard. The Euro, however, is floating around it's lowest levels of the year. If the French and/or Dutch reject the Constitution, that Euro is going to plummet hard.
Posted by John Bambenek at April 22, 2005 3:09 PM
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