got more balls than a bowling
"Borrow at 7% to lend to Spain at 3%" no wonder it's such a clusterfuck.
If Greece withdraws, PIIGS becomes PIIS
That will be popular with the people now won't it.
(06-13-2012, 05:03 PM)JayRodney Wrote: Tis fact. The "solution" to this is that is going to be proposed is for a rewrite of the EU treaty to form a giant central bank and all participants would give up their sovereignty for an unelected Federal Europe.
That will be popular with the people now won't it.
Crystal clear from the get-go.
The EU political upper class wants to direct all member nations'
internal affairs from les Bruxelles.
Hypercentralized government doesn't go very well with "democracy",
does it now..?
Quote:BRUSSELS - European Commission President Jose Manuel Barroso has said member states must agree to a big common budget, a future banking union and - ultimately - political union in order to save the EU.
Barroso, EU Council president Herman Van Rompuy, European Central Bank chief Mario Draghi and Jean-Claude Juncker - the head of the euro-using countries' club, the Eurogroup - are drafting a joint paper on how EU leaders can stop the crisis.
The text will be a political manifesto rather than a legal proposal, officials say.
"I will urge the European Council to take concrete commitments towards a fully developed economic and monetary union and a process that maps out the steps how to get there," Barroso told MEPs.
He said countries must agree here and now to generous EU spending in the 2013 to 2020 period.
He said the next step - which "might require [EU] treaty changes" - would be a "banking union."
The move would see EU-level bank supervision, a joint deposit guarantee fund and a new fund dedicated to bailing-out big banks which get into trouble.
Barroso's final step - fiscal and political union - would see EU countries issue joint bonds, co-ordinate tax policy and co-ordinate national spending on everything from healthcare to schools and social welfare.
Just as they planned.
giving up national sovereignty is usually the result of war, not paper with ink backed by nothing.
One wonders what the heck Gramps & Gramps and their buddies
bled in the trenches for...what will be the difference between
Brussels and Soviet-era Moscow, once Barroso, Rumpy and the
others of their ilk get their way..?
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