May 31, 2005

A Day of Woe

OK, so you all know that yesterday was my birthday. Well, the fun and games are over...I am back at work, I have soot all over me after walking by a filthy bus, and I am suffering from my yearly bout of poison ivy. It's all over my neck and chest and is spreading to my face. I look like Freddy Krueger!

But my problems are nothing compared to what's going on in Europe after France's resounding "no" to the EU constitution:

The euro fell sharply on Monday as traders in the United States sold the currency a day after the French vote, slipping to a seven-month low of about $1.25 in late afternoon trading...

The most serious potential foreign fallout from the no vote in France came on Monday from Prime Minister Tony Blair of Britain, who called for a "time for reflection," saying it was too early to decide whether a popular vote could go ahead in his country...

In a sense, consideration of the constitution by other member countries, including the Dutch vote on Wednesday, is only a political exercise in democracy to allow each of them the right to proclaim approval or rejection. But the Dutch vote is important nonetheless.

From what I have read elsewhere, this is not exactly a death knell for the EU. However, it will slow things up considerably. It'll be an interesting journey to say the least.

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