Tuesday, January 2, 2007
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The mother of all economic integrations
Three months ago I discussed German enthusiasm for a transatlantic free trade area. Well, now Bertrand Benoit and Quentin Peel report in the Financial Times that Angela Merkel is planning on taking the next step -- not TAFTA exactly, but defintely liberalizing:
Angela Merkel, German chancellor, will this month launch a sweeping initiative for the harmonisation of US and European legislation to boost investment flows and trade between the world’s largest economic blocs.Merkel talks about this in an interview with the FT's Quentin Peel. Some excerpts:
At the forthcoming EU-US summit we want to talk about ever-closer economic co-operation. Our economic systems are based on the same values. The EU and the US have sophisticated patent legislation. We have regulatory mechanisms governing our financial markets. We should be looking for ways to keep developing these together at a transatlantic level. We must watch out that we do not drift apart, but instead come closer together, where there are clear advantages for both sides.Now I'm beginning to wonder if John O'Sullivan knew something I did not 18 months ago. I hope so -- for one thing, I could then look forward to Sherrod Brown complain about Polish plumbers.
posted by Dan on 01.02.07 at 10:45 PM
I don't know. I suspect the European idea of harmony is for us to adopt their bureaucracy and banana curvature rules.posted by: Ted on 01.02.07 at 10:45 PM [permalink]
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