Europe mulls major step toward fiscal union

Europe mulls major step toward fiscal union

www.reuters.com

After falling short with her "fiscal compact" on budget discipline, German Chancellor Angela Merkel is pressing for much more ambitious measures, including a central authority to manage euro area finances, and major new powers for the European Commission, European Parliament and European Court of Justice.

She is also seeking a coordinated European approach to reforming labor markets, social security systems and tax policies, German officials say.

(visit the link for the full news article)

Alright NWO watchers, here is something that should get all of you talking.

Wouldn't it be fitting for the NWO (if there is one) to begin it's final machinations as Greece dies? Quite symbolic if you ask me.

This bears some very close watching. I used to be a fan of Angela Merkel, but after seeing this I'm becoming rather skeptical of her. At least the Brits are holding the line... for now.

www.reuters.com
(visit the link for the full news article)

reply to post by Dreine


I can see how Germany want's the rest of the EU to become more like them fiscally. However, I don't the rest of the EU willing to change their status quo to become more like Germany. European countries like the Idea of a Unified Europe but won't ever give away their power and sovereignty to a United States of Europe.

It will be interesting to see how this plays out.

reply to post by Dreine


I want to be bothered and concerened about this but i just cant be. The European union cant succeed unless it becomes the united states of europe. As we all know from America, states can still be allowed to fail anyway so what will it change?

I hope britain stays out of it, but money talks and the trade interests that we have in the Euro sector. (around 40%) of our output. May force our arm.

Whether this turns out to be a good thing or not i dont care. Europe might be able to influence and shape the future of my country but it does,nt effect me on a personal level.

Originally posted by pavil
reply to post by Dreine

 

I can see how Germany want's the rest of the EU to become more like them fiscally. However, I don't the rest of the EU willing to change their status quo to become more like Germany. European countries like the Idea of a Unified Europe but won't ever give away their power and sovereignty to a United States of Europe.

It will be interesting to see how this plays out.

One would hope that people would learn from the past. The states in North America under colour of law gave up their individual rights too for a fiscal and politicial union, the United States. It may seem all rosey in the beginning, but it does have its totalitarian or fascist downside, which is presenting itself in our day.

Would a fragmented conglomeration of states under their own individual rule have fared better than a union? I think they would have or at least equally as well. Europe has lasted a thousand years or more as separate states and even though there have been wars between themselves in the past, maybe they/we are mature enough as a species to cooperate rather than dominate.

The fiscal and political conglomeration of Europe I think will spell the beginning of the end (which may be 200 years away or two) dependent on how the merger is handled. Right now, the EU "body politic" is an unelected mess of self important pschopaths and sociopaths. I don't see it ending well.

Cheers - Dave

Liberal progressives need to be watching this with a very close eye

redistribution of wealth/services and the idea of socialism is very popular with progressives
All of that nonsense will be the excuse for a global entittlement system

"What are we supposed to just let people around the world die??????? You are heartless if you prefer doing nothing!!!!" - Progressive

Germany seems unable to let go of the whole 'Rule the World' fixation. I don't see the rest of Europe going for it. I think this attitude is dangerous. What is troubling is all this let me take charge cause you are obviously unable to, is fascism thinly disguised. It always seems so reasonable, but someone ends up not in being autonomous any more.

reply to post by Dreine


The first time Germany tried to conquer Europe it brought them to their knees.

The second time it demonized them in front of the entire World and destroyed their nation.

The third time people actually asked to be controlled and idolized German responsibility.

Germany is strong today only due to its flooding of goods and unconscionable banking services in Europe.

It faced its own hardships of austerities before, but that was way before the financial crisis. It grew rich off the backs of other europeans. Today, many of other EU states are in trouble, rightly so, thanks to german banks, reckless lending, corruption and the flood of german goods into EU.

Those EU states are unable to get out of the rut right now simple because of the worldwide slowdown, thanks to bankers and stock exchange follies. US consumers are not buying goods, suffering on their own. China not buying from others at all. Japan facing national and natural disasters.

Banks scrambling to get their monies back, foreclosing on all and not lending. Capital had fled and hoarded away. No money circulated. The list goes on.

Thus these EU states cannot be blame as being less than capable compared to the Germans, as some talking heads in the media had spouted. Those states are facing what Germany never had to face, which now Germany is stuffed with cash from EU's sweat and misplaced trust.

If there was no banking crisis in 08, the banking scams unknown, EU states would have NO problem paying off those loans with growth as economies are built upon Confidences and beliefs,rightfully or wrongfully. BUT now today, there is no growth to be had in this CURRENT state of the awakened world, mistakes that remained uncorrected, and no way for EU states to crawl out from.

Worse if it continues to use their national revenues to pay off loans instead of for attempts on growth to break the capital hoarding cycle, finally making HItler's dream of ruling Europe come true.

Well, yeah. Why wouldn't Angie want to reinforce the EU? I mean, we can all see how fantastically well it's been going so far.

reply to post by Dreine

This is what Hitler envisaged for the future of europe had he won the second world war,a European power base with Germany and the "Greater Reich" including the former Soviet Union, at it's heart,with nations retaining their own national identities but with Germany dictating all fiscal and defence policies.
We did defeat Germany in 1945 right?

As an American, I have to say that there is a feeling of deja vu here like many others have said. She is reminding me of another German Chancellor as well. And the irony of pulling this as Greece, the birthplace of democracy, dies is not lost on me either.

I have always thought that the idea of the EU was to become an economic rival/match/counterpoint to the strength of the US. What very few people understand (both in the US and Europe) is that the economic strength of the US came from selling goods and services to Europe after WWII since the US industry was still intact. Our factories simply were not destroyed in the ravages of war so we could produce the automobiles, refrigerators, washers and dryers that Europe needed. As time went on and Europe was rebuilt and recovered, the US had no ready made customers.

Heck, by the recession of the the 70's and 80's, a single factory could produce all the washers and dryers that JC Penny would sell in a year in the US within 10 days. Then another 14-20 days for all that Sears would sell. So the idea of outsourcing was born, so that some (but not all) third world nations would be built up enough to purchase these goods. But the funny thing that happen was that there was no plan and every bit of manufacturing became outsourced. So now that we would be ready to supply India and China... surprise, we have nothing to provide for them.

But back to the EU, the goal there was to have the poorer former Eastern Block nations provide for the richer Western Europe nations. It worked for a short while, but there was no balance and trade off within the EU. While economic conditions improved a bit, there wasn't enough economic improvement and trade balances. Especially when you consider that Western Europe (France and UK) really only produced luxury items. Germany was naturally going to come out on top due to their mix of industry with Semmens being the huge factor covering everything from medical equipment to washers and dryers. Pretty much the German equal to GE (General Electric) in the US as far as number of products produced.

To sum it up, the most that Western Europe has to offer the poorer nations is sovereignty, which is something that they could handle on their own. Socialistic Feudalism is still feudalism, just that the kings are outsourced if you take the poorer nations prospective. And that is exactly what the EU looks like to me as an outside observer. Greece being exiled may be the best situation for Greece to be honest. Especially if they can capitalize on tourism and currency exchange rates.

As for the EU as a whole, it will go down in flames (or yet another European war if not careful) if those in positions of power (UK, Germany and France--and rumors are that France is a bit shaky financially) remain unwilling to share the wealth by picking up the slack in cash strapped nations. Here in the US we cover the poorer states like Mississippi without totally dictating the terms of how they run their state. And we do it without a full VAT. Although there are hidden VAT-like taxes such as gasoline and sin taxes. But so long as the EU is used as a front for furthering the goals and machinations of the few at the expense of the many, the experiment is doomed to failure and probably in spectacular fashion if Germany tries to keep hold of the "reigns" (note--purposefully misspelled) after other nations figure it all out that they have been had.

Europeans are too proud of their countries and too knowleadgeable of the security their countries provide to give up their sovereignty... happily that is. Perhaps the best a NWO European plan is just a greater financial union and that is all.