RSS Feed
May 21st, 2012 
FAKE NEWS for the Zionist agenda
As far as I can understand the “strategy” of the EU, it is now to prepare for
Greece to leave the single currency. Not that the Greeks themselves are
anything like psychologically ready to quit: the politicians are
punch-drunk, exhausted, and appalled at the loss of face and loss of
security that would go with a sundering from “Europe”. Most voters choose
pro-euro parties. But money is being withdrawn from banks; events are
gathering momentum; and it is clear from their remarks that other EU leaders
are getting ready for an outcome which until recently was held to be
impolite to mention: the Grexit.
And then what? And then the strategy would appear to be to cauterise the
amputation; to circle the wagons; to issue the most ringing and convincing
proclamation to the markets that no more depredations will be tolerated; and
to get the Germans to stump up, big time, to protect Spain and Portugal. We
are told that the only solution now is a Fiscal Union (or FU). We must have
“more Europe”, say our leaders, not less Europe – even though more Europe
means more suffering, and a refusal to recognise what has gone wrong in
Greece.
The euro has turned out to be a doomsday machine, a destroyer of jobs, a
killer of growth, because it entrenches and exacerbates the fundamental and
historic inability of some countries to compete with Germany in making
high-quality goods with low-unit labour costs. Unable to devalue their way
back into the game, these countries are forced to watch industry wilt under
German imports, as the euro serves as a giant trebuchet to fire swish German
saloon cars and machine tools across the rest of Europe.
Germany is almost alone in recording economic growth in the first part of
2012; Germany is doing well from the euro; and so the theory is that Germany
should pay to keep the whole racket going by bailing out the improvident and
the uncompetitive, just as London and the South East subsidise the rest of
the UK.
Alas, it is not a strategy that is likely to work. As Angela Merkel has made
clear, there is little political support – let alone popular support – in
Germany. EU leaders may want a fiscal union, but it is deeply
anti-democratic. We accept large fiscal transfers in this country because
Britain has a single language and a single political consciousness in a way
that Europe never will. Rather than creating an “economic government of
Europe”, the project will lead to endless bitterness between the resentful
donors and the humiliated recipients, as these diminished satrapies will be
instructed to accept cuts and “reforms” – designed in Berlin and announced
in Brussels – as the price of their dosh.
And it is not as if the markets will believe in these “firewalls”, or not for
very long. If they can prise away Greece, they will know they can prise away
others. As long as the euro can break up, there is always a risk that it
will break up. So it is frankly unbelievable that we should now be urging
our neighbours to go for fiscal union. It is like seeing a driver heading
full-tilt for a brick wall, and then telling them to hit the accelerator
rather than the brake.
Europe now has the lowest growth of any region in the world. We have already
wasted years in trying to control this sickness in the euro, and we are
saving the cancer and killing the patient. We have blighted countless lives
and lost countless jobs by kidding ourselves that the answer to the crisis
might be “more Europe”. And all for what? To salvage the prestige of the
European Project, and to spare the egos of those who were wrong and
muddle-headed enough to campaign for the euro.
Surely it is now time to accept that the short-term pain of a managed euro
rupture – a wholesale realignment, possibly a north/south bisection – would
be better than continuing to immiserate so many people around the continent.
At the end of a day in Athens, I was so sad at what I had seen that I went to
a kafeneion and ordered a metaxa. And then another. At length, I fished into
my wallet and found a rather handsome banknote, with an image of Apollo from
Olympia. “Not today,” said the owner, politely declining my drachmas. “In a
month, yes.” It will be awful for Greece, and turbulent for Britain, but at
present I can think of no better solution.
Related posts:
Views: 0
Posted in 
Tags: 
