Saturday, February 13, 2010

Europe's Choice: Dismantle The Euro, Or Cede All National Sovereignty To Brussels

Curt Here...

The recent economic crisis in the EU and especially in the country of Greece has shed some serious light on some of the fundamental problems of the current setup of the EU post Lisbon Treaty. The Euro, currently is the single monetary authority across the EU, but in each country within the EU the political systems are different and the individual government economic objectives vary.

Because of the single monetary authority the value of the Euro is the same for all EU countries, which means that no matter how good or bad the individual countries economic policy's are, all are forced to live with the problems. This would include the very high government debt that Greece, Portugal, Spain and several other countries have accumulated.

As the article below details, this leaves the EU with just a few options and if we are close to the fulfillment of Biblical prophecy, then in my opinion only one solution will be available to avoid a full economic collapse within the EU. This solution is to cede all national sovereignty to Brussels under a seat of real centralized authority and harmoniz all of individual economic policy's for all of Europe into one policy. This is the perfect setup and breeding ground for the rise of the anti-christ and the mark of the beast. Look for this idea to gain ground as the economic crisis in Europe continues to spiral out of control.

Stay Tuned



Europe's Choice: Dismantle The Euro, Or Cede All National Sovereignty To Brussels

Joe Weisenthal Feb. 9, 2010, 6:12 AM

We said in early December that the Euro breakup would be the story of 2010, and just over a month in that prediction has shown to be right on. It's even overshadowing (by far) concerns over a China bubble, or at least a China slowdown.

A piece in Der Spiegel highlights the real problem that Europe faces. It's not just debt. It's politics.

As the early euro-skeptics warned, coordinating a single monetary authority across nations with their own political systems and economic objectives wouldn't work. The founders of the euro actually knew this, but they they thought they could cheat by imposing deficit limits on each country, which were stipulated in the Maastricht Treaty.

The (wishful) thinking was that as long as countries weren't allowed to run up ginormous deficits on their own, then it didn't much matter what policies they took on their own. Everything else would be fine.

That's obviously not proven to be the case. There are other kinds of bad decisions a country can go in besides merely running up big debts.

So that leaves Europe with two real solutions:

1. Breakup.

2. Turn Brussels into a seat of real centralized authority that mandates uniformity of economic policy across Euroland.

Neither, obviously, is politically appealing.

But for big-time Euro-skeptics, like UK journalist Ambrose Evans-Pritchard, who warned about dire consequences for British sovereignty if it joined the union, now is the time for big-time vindication.

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