There is more to the world than Germany and France

Joseph Stiglitz, George Osborne & David McWilliams will be speaking next week (15–17 May) at Google Zeitgeistminds panel on the Euro and EU periphery.

Joseph Stiglitz previously made reference to the economic benefits of Commonwealth membership in Trinidad and Tobago in 2009:

“The combined thrust of economic growth and democratic values in Commonwealth countries complements the argument made by Nobel Prize winning economist Joseph Stiglitz at the Commonwealth Business Forum held in Trinidad and Tobago in November 2009, regarding the three pillars of successful development strategy: markets, governments, and individuals. As he emphasised recent decades have seen marked changes in thinking, not only about what successful development means but also how to go about it. Development is about transforming the lives of people not just about transforming economies. Policies need to be looked at through this double lens: how they promote growth and how they affect individuals directly. For this to happen, Stiglitz identified communities working together as the fourth pillar of successful development. The Commonwealth offers such a community for the realisation of the ‘New World’ that Joseph Stiglitz says is necessary to make globalisation work for the many rather than the few.”

David McWilliams has described in his column that Ireland needs to enter into additional spheres of orbit. Perhaps Ireland joining the Commonwealth is the answer and in Ireland’s selfish and economic interests:

“Today, small countries like Ireland could take a leaf out of the book of the old city-states. Instead of committing ourselves totally to one sphere of orbit, we could play a trading game, seeing where the big powers’ interests have shifted and altering our own policy accordingly.Events of recent days have shown how dangerous it is to be dependent on one large trading bloc. It is clear our Government was slapped down on burden sharing at the last minute. In a world of free moving capital, this humiliation has to be acted on. Maybe Barack Obama’s visit next month, along with that of Queen Elizabeth, will open our eyes to the fact that there is more to the world than Germany and France”

Also by David McWilliams: We need to show ECB it’s not the only show in town