What If the Euro Fails: What Happens to Our Dependence on Multi-National Foreign-Owned Corporations for the "Oil" which Lubricates the "Law of the Land"?

The EU has a common currency but no unified political structure yet. For a light take on this in the context of the possible collapse of the Euro see below two recent Colbert Report segments. For something a hellva lot more serious in the context of the global legal publishing industry, one might want to give pause if the Euro fails. I, for one, have no clue, but I doubt it would be a "good thing."

While some pundits think that failing to bail out weaker EU national economies could lead to war in 10-20 years in an European theather of armed conflict, I think that may be far-fetched, However, some also think the failure of an Euro currency market would deepen the current US recession and that isn't far-fetched.

Students of economic history of which I am not a member, may have to examine foreign owned legal publishers (Thomson-Reuters, Reed, Wolker Kuwer) in the context of international banking that already existed in the 1930-1940s to gleam some sort of possible consequences. That's way, way beyond my sophomoric understanding of international economics.

The one thing I do know is that professional economic opinions will be diverse. However, since we have allowed foreign companies to deliver the "law of the land" in the US, I'm thinking someone is Congress ought to be conducting hearings on this. While the conventional wisdom in Europe is that Germany must step up to the plate to somehow secure the Euro, Congress must be prepared to address this issue on "the home front." Granted the matter is substantially boarder than just commercially provided legal resources but when the "law of the land" has become dependent on non-US commerce, I think the issue is sufficiently important for Congressional attention. It might not be if Open Law was the norm but that hasn't been institutionalized yet. One can only speculate about whether Congress will rethink cutting the GPO's budget or will realize that publicly financed provision of legal resources is as essential to the infrastructure of a nation governed by law, not people, as is providing defense, energy, law enforcement, disaster relief, etc.[JH]

The Colbert Report	Mon - Thurs 11:30pm / 10:30c
European Union Collapse & War-Fueled Recovery
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Colbert Report: Reuters' Global Editor-at-Large Chrystia Freeland believes the European financial crisis could be bigger than America's economic crisis in 2008.

The Colbert Report	Mon - Thurs 11:30pm / 10:30c
European Union Collapse & War-Fueled Recovery - Chrystia Freeland
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