Skip to comments.'States Must Sacrifice Sovereignty to Save Euro'
Posted on 06/27/2012 6:24:36 AM PDT by Olog-hai
Europe's leaders convening in Brussels on Thursday for an European Union summit are under intense pressure to come up with a new plan to save the euro, but they seem as divided as ever.
Chancellor Angela Merkel used uncommonly stark language on Tuesday when she rejected the idea for common euro bonds by saying Europe would not share total debt liability "as long as I live."
But German media commentators have drawn some comfort from a blueprint for a radical revamp of the eurozone's architecture presented this week by the "gang of four" European presidents: European Council President Herman Van Rompuy, European Commission President Jose Manuel Barroso, Euro Group President Jean-Claude Juncker and European Central Bank President Mario Draghi.
The ideas would entail a dramatic loss of national sovereignty through the establishment of a central authority with power to demand changes in individual members' national budgets, as well as a "medium term" move towards euro bonds, as well as a banking union with a single authority that would insure banking deposits and have the power to shut or recapitalize banks directly, with help from Europe's permanent bailout fund, the European Stability Mechanism.
German commentators say EU leaders will have to grasp the nettle and agree to at least the basic framework of a complete overhaul of the euro system if they want to save the single currency. Many agree with Merkel that euro bonds are the wrong answer, and that American calls for Germany to throw money at the problem won't solve the crisis. All countries will have to accept a loss of sovereignty to make the currency work in the long termand in the medium term, says one commentator, the European Central Bank should take a bigger role in tackling the crisis.
(Excerpt) Read more at spiegel.de ...
Angela Merkel in American translation: “Euro bonds will happen over my dead body.”
And our pathetic media is spinning this as a “maybe” !
Europe will erupt into war before this happens.
Not likely. They’ve successfully deluded a large chunk of their populations. Many even think of the EU as being more free than the US. They’re pretty much hooked on EuroSoc, and are really brainwashed by the leftist doctrines. The governments are quite compliant . . .
>>Europe will erupt into war before this happens.<<
With what? The UK is the only country with a standing army worth a damn (the rest rely on the USA) and they aren’t part of the Euro.
This plan is dead on arrival, but nobody wants to admit it YET!
Well frack, I was just talking on another thread about an attempt to create a supranational European governance over the next two days.
And here it is. This is the Raft of the Medusa.
why bother fighting WW2 if they are gonna hand it over to the germans now because that is what this is.
Yes, it certainly is. Because the loss of national sovereignty is not required to save the Euro. If individual governments would balance their budgets (as originally "required,") the common currency would work very well.
Expect the first budget items the EU cuts not to be retirement age austerity or any social programs, but the military.
The Germans? This is a power-grab by the EU’s supranational masters: an unholy alliance of stateless front-men and banksters.
The only way that Barroso, Rumpoy etc can continue their lives of ease is if they stop anyone getting off the ‘Raft of the Medusa’ (this is a historically-charged analogy for the Euro).
Now that the markets are threatening to wash everyone off the raft: the only way to keep them together is if they are tied together.
It’s not going to work for very long - but it’s not going to be very pretty while it lasts.
“Europe will erupt into war before this happens.”
All the real men of Europe were killed off at the Somme, Verdun & Stalingrad. Today, except for the Germans, none of them are interested in working. An honest day’s work is a walk in the park compared to war. If they won’t work, what makes you think they will fight?
No, he’s got it right. The parliament in Berlin has power over the EU’s laws; no other national government does.
4. Strengthening democratic legitimacy and accountability
Decisions on national budgets are at the heart of Europe's parliamentary democracies. Moving towards more integrated fiscal and economic decision-making between countries will therefore require strong mechanisms for legitimate and accountable joint decisionmaking. Building public support for European-wide decisions with a far-reaching impact on the everyday lives of citizens is essential.
So many weasel words. They will end up using the 'Community Method' - which is code for 'Rumpoy and Barroso stitch everything up between them'.
They’ve been using language like that for decades. The Treaty of Lisbon and the Charter of Fundamental Rights are worse; the latter reads like the “fundamental rights and duties of citizens” of the USSR’s constitution, i.e. in part.
European Union, jokingly referred to as “Greater Germany and France”, becomes “Greater Germany because it controls the purse strings”.
I agree. What people do not see is the opportunity for a “strong man” to arise. The next European “civil war” is always going to happen. The cause this time remains to be seen, but with current troubles, this may be the matchlight.