b'Independent Groups king over the waterRegrettably, and even tragically, for those, involved, the EU Accession Treaties requirethe single currency, the euro, is no cure new EU member states to join eventually thefor the disease of the EU - it is a part of the Economic Doomsday machine that is thedisease. Eurozone. This means that new, (and usually, comparatively impoverished) EU memberFrom the map above, it is clear that those states will lose control over their ownmember states that fall to the South or East monetary policy. Their adopted currency - theof the line (including Southern Italy) have euro - will almost certainly be overvalued formaterially higher rates of unemployment. their economy, with predictably dire results.These member states receive the most in That the current jargon uses the euphemisminternal transfers paid via EU institutions. internal devaluation, is little consolation forFurthermore, the member states in Eastern the drastic and painful austerity which is theEurope are the most recent members consequence of an overvalued currency.of the EU. Thus far, the addition to the EU of Eastern European countries has increased As a reader (Gregory Shenkman) wrote inthe economic burden on Northern Europe, a the Financial Times in a letter (29 Octoberburden incidentally shouldered 2013): Greeks, Spaniards and Italiansdisproportionatelyby the UK. Unemployment will not absorb the economic disciplinerates indicate that these countries will of Germans any more than the people ofcontinue to be a burden on the contributing southern Italy have absorbed the economicmember states of the EU for the foreseeable discipline of northern Italy in the longfuture. period since the countrys 19th century unification, despite full political, fiscal andThe jobs problem facing the EU is normally banking union. The Mediterranean beltreported in terms of the alarming rates of will never catch up economically with coreunemployment. The table below depicts Eurozone countries. The result will be regularwhat is more worrying still - the low levels of crises ending, one fears, in a truly terribleemployment and hence opportunities and reckoning. The longer European bureaucratsgrowth in the EU. Again, this is worse still in and politicians delay matters, the worse willthe Eurozone. As Professor Tim Congdon be the ultimate consequences when thehas stated more Europe means fewer jobs.Eurozone finally breaks up.10To paraphrase Dr Ralph Miliband, the father of Ed and David Milliband, the new UK parliamentary 31'