The French President wants eurozone members to hand over their sovereignty to the European Union.
The French President has come up with a very creative way to solve the European debt crisis. On Sunday, the French President Francois Hollande (Francois Hollande) writing an article points out that the final solution way to solve the problems in Europe at present, is to let every euro members handed over all their sovereignty to the newly established the federal government. In other words, it is essentially “European America”. The federal government will have a prime minister, a parliament, a federal budget and a federal budget. It is assumed that European governments will continue to operate like the American states. Finally, such a coalition might have some benefits, especially for the weaker members of the euro zone. But what are the costs?
When I first learned that President hollande of France had proposed that members of the eurozone should create their own federal government, I was shocked. But I shouldn’t be surprised. For the global elite, the answer to any question is more concentrated. The following is from a bloomberg article published on Sunday.
French President francois hollande said the 19 countries that use the euro need their own governments, better budgets and parliaments, and better cooperation to overcome the Greek crisis.
“The situation is accelerating us,” Mr. Hollande said in an opinion piece published Tuesday in the journal Dimanche. “It’s not so much Europe that’s threatening us, it’s the lack of it.”
So what is “more Europe” like?
Mr Hollande envisages a central government with both a parliament and a federal budget.
“I suggest taking the idea of the euro government with Jacques delors, plus a specific budget and a parliament to ensure democratic control,” he said.
His comments touched on what analysts see as a major flaw in the euro.
Under the 1992 Maastricht treaty, countries with a common currency must abide by the rules on borrowing and deficit spending.
But the Greek crisis has exacerbated a deficit among the 19 members of the euro zone and accumulated a lot of debt. These problems can only be solved through the assistance of European institutions and the international monetary fund.
Critics say the problem is due to a lack of centralised control of national fiscal policy, which today is an area of jealous sovereignty.
Officials say there will be a eurozone government with its own prime minister. The government will have its own budget – separate from the eu budget – to aid and invest in more vulnerable countries, and it will try to co-ordinate companies and pay taxes to ensure fair competition in the eurozone.
Of course, Mr Hollande is not the only one demanding more concentration. Last month, the European central bank President Mario draghi, President of the European commission’s President, jean-claude juncker, and the euro group tayloe disel, Bloch has come up with a plan, will establish a Shared European Treasury.
Draghi called for over 10 years with the European commission’s President, jean-claude Juncker, jean-claude Juncker) and the euro group, Eurogroup chairman Jason Selma brom (Jeroen Dijsselbloem) political figures, including a joint proposal to set up the ministry of finance jointly.
I don’t think we’ll see any of these things immediately.
What is important, however, is that this is where the European elite plans to take over Europe. And when the next European financial crisis erupts, these proposals will be the “solution” needed to end the crisis.
In times of emergency, elites often push things that can never be done in general. At present, it is very difficult for everyone to agree to be a comprehensive “European America”. But if things start to spiral out of control and people suddenly demand solutions, the environment will be very different.
The key, then, will be for Germany and France to agree on what America’s Europe should look like. If Germany and France can agree, the eventual failure of most of the rest of the eurozone is inevitable.
One potential obstacle to creating the new government is the euro. The current treaty agreement on the euro is complex and restrictive. If Germany and France decide to create “the United States of America”, they may have to create a new currency to do so.
I know it sounds crazy now, but at one point the concept of “euro” sounds crazy.
At present, the European debt crisis continues to deteriorate. Greece, Portugal, Ireland, Italy, Spain, Belgium and France are drowning in debt. Whether or not we see a “grexit” in the short term, I fully expect European bond yields to continue to rise and European stocks to plunge in the coming months.
I believe we are on the verge of a very significant European financial crisis. Pay particular attention to big Banks. As in America, Europe’s too-big-to-fail Banks are massively over-leveraged and vulnerable to derivatives.
In fact, deutsche bank is the most risky bank on the planet. According to reports, deutsche bank’s derivatives risk is as high as $75 trillion, and their co-chief executives have recently been forced to resign, and there are all sorts of rumours going on behind the scenes.
What would you think if Germany’s biggest and most important bank suddenly became the next lehman brothers?
It’s worth thinking about.
A year ago, the euro was trading at 1.35 against the dollar.
Today, it has dropped to 1.08.
There will be more ups and downs, but we’re almost there.
The euro zone will be convulsed by the imminent arrival of the great turmoil.
So, despite the big twists and turns on the road, I look forward to seeing the “European America” proposed by French President francois hollande.
Do you agree?
What do you think about the future of Europe?