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Post Does the EU Have a Future? I Agree with Nigel Jones
Created by John Eipper on 11/09/18 3:48 AM

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Does the EU Have a Future? I Agree with Nigel Jones (John Heelan, UK, 11/09/18 3:48 am)

I agree with Nigel Jones (November 8th) when he predicted the demise of the EU.

As Deep Throat said in Watergate, "Follow the Money."  In the EU's case, the Eurozone will lead the collapse following Brexit when the EU budget will no longer be able to sustain investment in the 22 out of 27 Member States that are net beneficiaries of the money put into the kitty by only 5 Member States.

Then there is the undemocratic nature of its governance controlled by the EU Commission and the various EU central banks.  Most EU governments have by now been infiltrated by Goldman Sachs acolytes (as has the IMF) supporting US capitalist ideology. Even the Bank of England continues its "Project Fear" campaign about threats to the UK economy should there be a "No Deal Brexit."  It preaches about a resulting flight of UK financial services to other EU capitals, closing its eyes to the EU Commission plan to exercise an EU Financial Transaction Tax on very financial transaction that will wipe billions of euros from the profits of those financial services.

In summary, the Eurozone is slowly collapsing through poor productivity and high unemployment (especially in the under-25s) in the eastern Member States.  The faux democracy provided by the EU Parliament is a mockery that will also collapse as soon as MEPs realise that their "gravy train" will slow down and stop though lack of funding.

The danger for Europe is that there might well be yet another Franco-German Reich being created.

JE comments:  The current EU model of governance may indeed be unsustainable, but note that 2 and 1/2 years after the Brexit vote, no country has joined the UK in leaving.  John, the final divorce is just four months away--can you update New Worlders on the state of negotiations?

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  • Will Deficits Bring Down the EU? I Don't Think So (Carmen Negrin, France 11/10/18 4:05 AM)
    If you follow the money, as John Heelan asks on 9 November, where is the USA's money?

    How many billions of deficit? If the US stands, why can't the EU? Please explain; I am a total ignoramus in this field.

    All I can see is that Italy seems to be the one pulling down at this point, and Brits don't seem to be so pleased about their initial vote on Brexit.

    JE comments:  Perennial deficits in Washington don't put US survival in danger, so should Brussels be any different?  Because of history?  Something vaguely "organic" about national identity?  Like Carmen Negrín, I hope someone can explain this to us.

    We'll begin today's WAISing with a number of EU-related posts.  Next up:  John Heelan on Brexit.

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