Subscribe via RSS Feed Connect on Google Plus Connect on Flickr

“The European Union is a horrible, stupid project.”

Wednesday, 10 October, 2012

Sweet Swiss So says Nassim Nicholas Taleb, author of The Black Swan, in a wide-ranging Foreign Policy interview titled “Epiphanies from Nassim Nicholas Taleb“. Here’s what he says about the EU: “The European Union is a horrible, stupid project. The idea that unification would create an economy that could compete with China and be more like the United States is pure garbage. What ruined China, throughout history, is the top-down state. What made Europe great was the diversity: political and economic. Having the same currency, the euro, was a terrible idea. It encouraged everyone to borrow to the hilt.”

And who could disagree with that? But it gets better.

“The most stable country in the history of mankind, and probably the most boring, by the way, is Switzerland. It’s not even a city-state environment; it’s a municipal state. Most decisions are made at the local level, which allows for distributed errors that don’t adversely affect the wider system. Meanwhile, people want a united Europe, more alignment, and look at the problems. The solution is right in the middle of Europe — Switzerland. It’s not united! It doesn’t have a Brussels! It doesn’t need one.”

Taleb has a warning for Washington as well: “The U.S. government should have no deficit. There’s way too much debt. It is inexcusable when you have the highest standards of living in the nation’s history! When you get rich, you should have less debt. There’s a vicious element to borrowing when you’re very rich, and having a deficit is an extremely dangerous game.”


Comments are closed.