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Monday, February 27, 2017

Not Exactly An Even Trade

The European Union has been on shaky ground lately since the vote in the UK for Brexit.  After all, the EU will lose one of the world's largest economies as the Brits say goodbye to the Brussels bureaucrats.  Today, however, the EU signed a new pact with Armenia.  That nation will now have an "association" with the EU.  Armenia won't be part of the free trade area and certainly won't use the euro as its currency.  Indeed, Armenia is part of the Russian led trade region, a pact which it joined after massive pressure from Moscow three years ago. 

Losing the UK and gaining an affiliation with Armenia is not exactly an even trade for the EU.  Not even the spin-meisters in Brussels will be able to put a good face on that.

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