So, anybody have any insight as to why, and what the ramifications are?
I really can’t offer much insight except to note that they seem to be doing the right thing, but for the wrong reasons.
Analysts seem to think they are voting No to keep their economies isolated from foreign competition. Like that is going to work.
I can think of a long list of reasons to oppose this Constitution, but those don’t seem to be the reasons driving people to vote No.
I guess I just don’t get it.
The NPR interview spin was that Turkey was the big problem because it was both a money pit and a big and growing population. Nothing like a little creeping racism to blame things on.
I think they might have something in that it was based in parts on economics and cultural dilution. The smaller countries in particular seem to be concerned about dilution.
I can’t imagine why any of the smaller countries would sign up for this deal, unless they were one of the poor Eastern European countries that figured the deal was a big welfare check. A small country would give up its national control and get very little influence in return.
Maybe that is the real reason the Netherlands voted it down, and maybe the French were just being French.
I’ve been following fairly closely and have been able to gain some insight to the issue since I work for a European company and many of my colleagues are ex-patriots.
If anything, the no vote by France and others is to protect their very lucrative health care system, employment benefits and summer long vacations. In a sense like others have said, it’s also the French being French. Others who have voted for the referendum state that they have done so to not rock the boat. Mainly Germany and Austria. This is rooted and dates back to their role in WWII. There appears to be a stigma that if they vote for anything that is against any sort of unity it is viewed as them going back to their old and evil ways so they’ll pretty much vote for anything.
It is clear that Europe must make reforms. Their high unemployment rates and benefits are weighing down their economy causing them to spend way more than they make. Most economists believe that they’ll fall further behind the USA and China if things are changed soon.
Those French are so provincial, Franco-centric, and jingoistic. Imagine them not agreeing to give up their national soveirgnty! How gauche! Next thing you know, they’ll be pulling out of the UN.
And, thank you France for that vote. The euro is down, the dollar is up, and I just bought gas for $1.99 a gallon.
IMHO, the EU will not survive the long haul. Europeans have too long of a history of fighting each other.
As an European entity if the united they could be a tremendous economic and militaristic power. As individuals they are fairly weak.
Survival in part depends on their unity.
A few weeks ago I read an article about the white flight & middle class escape from the Netherlands, posted on International Herald www.iht.com
I gather from the story that the immigration and social policies of the country have completly gotten out of hand and that is why many voted NO. Obviously they brought it on themselves, being too social & trying to be politically correct. They see any foreign entity as a threat to their livlihood. Can you blame them???
Yes, I can blame them.
Freidman has a good editorial in the NY Times today. He points out that workers in France want to preserve their 35 hour work week while workers in India and other countries would like to work 35 hour days.
Europe is in deep trouble. The continent has had 3% growth, a rather pedestrian rate by American standards, only one year out of the last 14. They are rapidly aging, and the population is shrinking. Their economies are inflexible, so they are unable to adapt to changing conditions. Their welfare mentality is out of control. They don’t want to compete at a time when the world is getting increasingly competitive.
The whole damn continent seems to need a Margret Thatcher. I don’t see that happening. This whole situation is not good.
Did I miss something Art, is India part of Europe now? 
This whole situation is not good.
Exactly. I don’t think enough people in the US realize that as much as the entire world is reliant upon us, we are almost equally as reliant upon them to buy all the junk/crap we make.
Have you read any analysis from a good source on what the effects of a large European economic hiccup would have on the US?
In a sense it’s good for the USA.
The Euro is dropping against the dollar easing fears that the dollar would be dropped as the basis of world currency. In addition, it relieves the economic competition as European nations continue to fall and lose ground as major economies vs. the USA, Japan and China.
As a whole the EU would be a strong entity. As individual nations they are losing ground…quickly…
The dollar thing is definitely great, and that should have been (or maybe is?) Bush’s number one method for lowering gas prices.
But I’m more worried about long-term impacts. If the European economy tanks hardcore then I think that would have some serious impacts on the rest of the world. Not as much as if the US really bites it (read: please don’t let the real estate market tank), but it is still a substantial part of the world market.
But maybe China continues to grow, along with Japan’s recovery, at a pace that offsets European declines. So maybe what we should really be worried about is the #2 economy in the world, China. I know Bush mispoke when he said it, but his statement (paraphrased) that “China’s economy is still small but is growing” was a real head slapper for me.
I haven’t read anything directly on target about what problems in Europe would cause the US, but I really don’t have to. Problems in any economically large area of the world impact us.
Europe can not continue on with current demographic and economic trends forever. Neither can Japan for that matter. Did you know Japan had about the lowest birthrate in the world along with essentially no immigration? The US is in better shape for many reasons, but one of the biggest is immigration.
People in India, China and other Asian countries are really getting their act together and want to work. That is a recipe for success. The rest of the world can diddle with trade policies, currencies and the like as they please, but you either compete in this world or get left behind.