
© Global Look Press / Jens Schicke via www.imago-image
The European Union bailout announced this week won't be enough, and
it'll be the obedient EU taxpayers who have to pick up the tab for future packages. Britain should be relieved it's no longer part of this sorry mess.
This week's futile European Union 'kick-the-can-down-the-road' budget and bailout negotiations proved to be contentious, but as always, Germany won. France crumbled, and the resistance - feebly led by the Netherlands and featuring Denmark, Sweden and Austria - caved. What a shock!
Well, it shouldn't be a shock. The more things change, the more things stay the same.
Will €750 billion bail out the EU's bloated sovereign balance sheets, corporations, insolvent banks, underfunded pension funds, ludicrous property valuations and busted supply chains? Absolutely no way. This is the beginning of the EU's flame-out.
The EU's endgame has always been a power grab all about globalization.
Membership has no privileges, but it does require subservience - every member must surrender their sovereignty. All member states are required to give up all of their rights to create laws independent of the EU Court of Justice while pledging full and unfettered compliance and obedience to the opaquely appointed five presidents of the European Commission. Good deal? No way.
The EU could never work without a central treasury mechanism, which ensures that each of the member states is equally compliant with fiscal and budgetary constraints and the rule of law. Unfortunately, the EU's composition and structure have been skewed in Germany's favour from day one - and behind the scenes, Germany has always been the economic powerhouse driving the economic engine of the EU.
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