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Creeping Communism In The European Union

The following is from Reuters just a few hours ago:

The head of Germany's prestigious Ifo economic research institute on Friday slammed European plans to increase economic coordination, calling motions by the EU's executive arm "ridiculous."

"The Commission wants to monitor unit labor costs and fine a country if it deviates from others," he told Dutch business daily Het Financieele Dagblad in an advance copy of the interview.

"This is ridiculous. This is a central planning solution that is alien to a market economy," he added.

Honestly, one couldn’t make this sort of stuff up. Well over half of all voters in the UK want to get out of the EU but for reasons no one can fathom our politicians just won’t listen. Even this sort of daft idea won’t make them see reason.

(The Ifo Institute for Economic Research is a Munich-based research institution. Ifo is an acronym from Information and Forschung (research). As one of Germany's largest economic think tanks, it analyses economic policy and is widely known for its monthly Ifo Business Climate Index for Germany. Its research output is significant: about a quarter of the articles published by German research institutes in international journals in economics in 2006 were from Ifo researchers.)

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