European Economic Community, Dr Thomas, Thomas Meyer discussed on We Study Billionaires - The Investors Podcast
He was formerly the chief economist at Deutsche Bank he's worked at Goldman Sachs in the IMF and the Institute for the world economy so without further delay. Here's here's our conversation with Dr Thomas. Meyer you're listening to the investors podcast while we study the financial financial markets and read the books that influenced self made billionaires the most we keep you informed and prepared for the unexpected. Welcome to today's show. I'm your host stick. Ns there's always. I'm here with my co host. Preston Pysche espy set their introduction. We have very excited to be here with Thomas Meyer. Thomas thank you so much for being with us here today today. So today's topic is the euro and I don't think we can find any better guest than you Thomas to help educating audiences and and us now Thomas I think it's hard to fully understand the euro without first talking about the history of Europe and the two World World War so let's go back in history and could you please talk to us about what led up to the creation of the European Economic Community that we today in a slightly different form. No s the European Union. Yes thank you see. I think they have to go back to World War One because I think this laws that affected Europe devoid of calls to end it the Always Time Senate. Broad view world by developing the Baugh who turned out to be a trauma for their it was also the end of the the war The Treaty of aside in Fashion T. Street. Got Court they went into a superior position and makes in the news so far as they could do. More damage was killing the news. Is that the guilty ones and the winners want to taking. The term was understandable from the time about Blair talk to very good because of the way. Wait for a lot of resentment on the part of the news though since Germany in particular which opened the door to a new national achieving. And then when you go for on time and you look at the depression. Duty Nineteen Thirties. Where the economy turned down? There was order find. Employment this facilitates they'll pay the way of the Nazi regime to exist intimacy so not to begin World War Two and defeated unfortunately but this time around the allies and in particular the French the Americans the British all into repeat the policy after World War One. It could treat you from. The science. Should be repeated because everyone understood that this brand you want so it was primarily French exiled politicians titians some of them living in Washington. DC that will also long That's told year one two years before the end of the war. And how to deal with the did you see trump and they came up with the idea that he would be much much better for the future to terminate into a security structure. Now this idea and they help off the Americans and the British and the post war post war more to politicians to build this classical full which wants to post war. Oeste the idea Boston coincide Germany especially with trump's but also the other I and to bring it in to a little community unity. It is no coincidence that the European Community started with Kuhn and steal again as a coal And deal community needs to economic sexist coming ruler of the members of this community notably crowns and other European why coal and steel because back then coal and steel very poor resource for waging law. Automate coincidence that it then progressed. So you're in common agricultural policy also interesting. Actually coach actually called. You need food too late war in your home country. COMP rely on imports of course because they cut you off from them on program. I'd be progress to European Economic Community. That grew up the country's closer together but also provided devices. If he'd been economic post it was everyone a big glass to be in there. Usually the prettiest interested join some other neither but because it was a very big success also the British came in the nineteen seventeen and how did the European Economic Community in both the European Union. which was again bro? Because no longer trusts to Kalani let me community but there are also areas of common structures happy to it in this sense of ending coming structures correct. We created a European exchange rate mechanism that exchange rate where types to each other and out of that invoice in your opinion monetary given but the euro another approach. That's came out of this. Getting together and going over. The original original structure of the European Economic Community was the single European market. Truly things in the market out so good answer recess. which was I I deliver newsroom and you think of it to be able to heck services in another country which basically meant that? The country intrigued by the services DOBA except the regulatory train book country where the Servers Ritchie made so beautiful they cooked mission. Regulatory Tori frameworks. And then of course we have the so called shaded area shaven. It's a small village Toyota excited to have pass cold free travel among the countries that belong to this to this agreement so we progress problem the two loss at Toyota Park one well to to the then basically removed Europe from it position as the global leading power so national strong these to war was never ever have in Europe again and to come closer together economically politically so Thomas. Let's talk about the.