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MESSAGE FOR WEEK BEGINNING 12th December 2005 Unions?
I was recently in Barbados giving the annual lecture sponsored by the Central Bank. Barbados is involved in moves to create a Union of Caribbean countries. In all such efforts there are the usual questions. How deep does the Union go? Is it a currency Union or just a free trade Union? What are the actuak advantages of a Union - other than the emotional ones? In Europe, Ireland has a rising inflation rate and it is not possible to raise interest rates because these are controlled by the European Central Bank. Does Union mean 'one size fits all' or simply that the barriers to flow and communicatiojn are reduced? Obviously a Union of small countries is taken more seriously by others than each individual small country. What is an ideal Union?
Edward de Bono |