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Down Side of Poland Joining The Euro
Your 5 March front page article: “PISM REPORT: IS THIS THE FUTURE OF EUROPE? OPPORTUITIES AND RISKS FOR POLAND IN A UNION OF INSIDERS AND OUTSIDERS, by Anita Sobjak, clearly states the case for Poland’s accession to the European Monetary Union. According to Sobjak, if Poland does not join the Euro (common currency pegged to the Deutsch Mark), then Poland will NOT have influence as an Insider in the EU. Sobjak clearly thinks that the price Poland must pay to have influence in the EU is worth Poland surrendering her control over her own spending on national defense. Some, including myself, strongly disagree with Sobjak on this point.
What Sobjak does NOT mention is that if Poland acceeds to the Euro, then Poland no longer will be able to borrow in her own currency, as does the United States, for example. Borrowing in your own currency allows more flexibility, you owe money to your own citizens. Since the gold standard was abandoned in the early 1970s, all countries are free to print all the money they want, and legitimacy and confidence in that government is measured qualitatively by public opinion, since there is no longer a quantifiable measure – the gold standard. Borrowing in Euros for Euro zone countries really means borrowing in Deutsche Marks, because the Germans run the European Central Bank. Moreover, countries that have acceded to the Euro agreed to keep their annual budget deficits no higher than 3% of Gross Domestic Product. If Poland joins the Euro, then Poland cannot press forward with its nuclear energy/nuclear arms program and its effort to make its armed forces state-of-the -art, because this will cost more than 3% of Poland’s GDP per year.
Overall, Sobjak’s article was informative and clearly states the position of THE POLISH INSTITUTE OF INTERNATIONAL AFFAIRS which is a think tank funded by the Polish government and largely reflects and popularizes the thinking of the majority-today the Tusk Government based on the Platforma Obywatelka.
Illinois Bishop Holds Public Exorcism
Cheers to Bishop Thomas Paprocki of Springfield, Illinois for holding a public exorcism the same day the politician, Gov. Patrick Flynn, legalized same-sex “marriage” in that state.
Bishop Paprocki calls attention to the “diabolical influences of the devil that have penetrated our culture both in the state and in the church.”
Where is the Archbishop of N.Y.C.? How about the other Bishops?! Where is their “Paprocki spirit”?
In my diocese, we hear from the Bishop when he wants dollars.
So again, cheers to Bishop Paprocki of Springfield, Illinois, and I say what my beloved Polish father always said about good people: Żeby mu Bóg niebo dał.” (May God reward him with heaven).