“Europe’s fiscal Fascism brings British withdrawal ever closer” – Ambrose Evans-Pritchard – Telegraph
“Just when you thought the EU could not go any further down the road towards authoritarian excess, it gets worse.” – Ambrose Evans-Pritchard
Things are spinning out of control in Europe, economically, fiscally and socially. German Chancellor Angela Merkel said today that “Europe is in a ‘very, very serious’ situation and that success is not yet guaranteed.” And no amount of money thrown at the situation can fix the structural cracks that are now emerging in the very fabric of the continent.
And what do these things have to do with the US? We face a very similar situation in the near future when compared in parallel to Europe with states versus the federal government. The only difference is the federal government is well established. Certainly there are differences that cannot be overlooked. Yet the situation sounds all too familiar with the federal government over-stepping its reach on several different fronts since Obama took office.
Ambrose Evans-Pritchard from the Telegraph hits on the historical nature of what is happening (history repeating and history being made) as well as the tyrannical nature of what the EU is proposing to alleviate problems. As one commenter said in response to the article, “I’m getting a very bad feeling about how matters economic and social are going to pan out over the next 3 – 5 years. There’s trouble blowing in the wind.”
Below are some of the summary quotes from the article above.
“Fonctionnaires and EU finance ministers will pass judgement on the British (or Dutch, or Danish, or French) budgets before the elected bodies of these ancient and sovereign nations have seen the proposals. Did we not we not fight the English Civil War and kill a king over such a prerogative?”
“Yet again we are discovering the trick played on our democracies by Europe’s insiders when they charged ahead with EMU [European Monetary Union], brushing aside warnings by their own staff economists that monetary union was unworkable without fiscal union. Jacques Delors knew perfectly well that this would lead inevitably to a crisis, but it would be the ‘beneficial crisis’ that would force sovereign parliaments to submit to demands that they would never otherwise accept.”