Skip to comments.Spanish premier Mariano Rajoy calls for eurozone 'centralized control' authority
Posted on 06/02/2012 12:14:54 PM PDT by Olog-hai
Mariano Rajoy, the Spanish prime minister, has called for the eurozone to have centralized control over the budgets of all the countries using the euro.
Rajoy has become the latest European politician to call for countries to, in effect, abandon their sovereignty in a last-ditch attempt to save the beleaguered currency.
Rajoy said a new central authority would go a long way to alleviating Spains economic crisis as it would send a clear signal to investors that the single currency is an irreversible project.
He said: The European Union needs to reinforce its architecture. This entails moving towards more integration, transferring more sovereignty, especially in the fiscal field. And this means a compromise to create a new European fiscal authority which would guide the fiscal policy in the eurozone, harmonize the fiscal policy of member states and enable a centralized control of [public] finances.
Rajoy is not the first to propose creating such an authority, but the fact that Spaina country deemed too big to failis backing the move may now accelerate talks.
Its setup would require a change in the European Union treaties, a usually lengthy process that requires ratification in the 27 member states of the bloc, including those such as the UK that do not use the euro.
Germany, the de facto guarantor of the euro, has said further integration in Europe was required, including additional controls on national public finances. Angela Merkel, the German chancellor, said there should be no taboos when discussing such issues.
(Excerpt) Read more at telegraph.co.uk ...
Hey, central planning! Cool idea. What could go wrong?
Just wait until Hussein decides to jump in with them.
“Just wait until Hussein decides to jump in with them.”
He may have already. WSJ on Thurs or Fri reported Geithner was off to Spain to help Spain resolve its crisis.
Imagine if state budgets were all decided by Washington DC . . . ?
What effect do you think Federal tax dollars have on your local budget if not effectively controlling it. Agenda 21 is working hard. Smart meters and bike paths with new roundabouts at the mall entrances ....Obamacare will grab you ... by the throat. Drones and intersection cameras will be as common as sidewalks and Chevy Volts sooner than you think.
What goes hand in hand with authority?
Centralized banking would require the richer...German banks to bail out the Spanish and Greek banks that are failing.
It’s a bail out.....remember that too big to fail thing we started?
Ack, that’s right.
Europe becomes Greater Germany because it worked hard and was less reckless than the other nations. Money is king.
Makes it easier to surrender 1 huge entity to the UN. Greater Europe need to fail so local sovereignty can be maintained. DC needs to be reigned in and the UN needs to be kicked out or they will have Africans and Asians guarding us in the UN concentration camps.
I don’t get it... if they want a single currency so badly... why don’t they all just agree to use someone else’s currency? why do they need their own, when they could for instance ... declare tomorrow that all transactions in the eurozone will now be in US dollars. Problem solved.
They already do. Look up online which currency the euro was modeled after, and what bank the European Central Bank was modeled after . . .
The image in Revelation is one of a Beast who uses economic pressure to force people to accept his mark, lest they be denied the ability to participate in the economy. This is EXACTLY what is happening at this very moment, except at the national level.
Exactly lines up with how they threaten the member states if they don’t do what they’re toldamong the threats is that of economic isolation. Watch those threats spread beyond the EU’s borders . . .
Translation: “We desperately need someone to plunder the coffers of the more affluent Euro states.”
Well, good luck with that!
Yeah, and this guy's a supposed conservative. I didn't know much about him -- I know a lot more now.
This guy is all in on stupid.