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European Powerbrokers Present Proposal For New Economic
And Political Order
Federalized union touted by Bilderberg's finest
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The European Commission, the executive body of the European
Union, has revealed a set of proposals to fully integrate the
economies of the EU member states and centralize power under
a federalized union.
Following monday's announcement of a €750bn EU bailout
fund, the EC head and Bilderberg darling José Manuel
Barroso announced
details of the plan for further European integration.
“Europe has dealt with the immediate emergency but we
must also show we are serious about the more fundamental reforms
needed. We must now get to the root of the problem.” Barroso
stated at a press conference in Brussels.
Currently, the European Central Bank sets interest rates for
the euro zone, while national governments set their own fiscal
and economic policies. It is this imbalance, which was enforced
upon member states with the creation of the EU and a single
European currency, that Barroso and his ilk say has led to the
escalation of the financial crisis in Europe.
The new proposals centre on three main initiatives.
Firstly the national budgets of member states would be opened
up to supervision, scrutiny and pressure from all other EU nations
operating under the central body.
Secondly, there would be increased monitoring of macroeconomic
imbalances and "competitiveness" between countries.
Thirdly, the proposals call for the creation of a European
Monetary Fund or EMF - a permanent bailout mechanism described
by the EU’s monetary affairs commissioner Olli Rehn as
“a last-resort mechanism of financial assistance in the
form of loans, with interest rates that would be so unattractive
that no one would want to use it voluntarily.”
The proposals have emerged quickly following Barroso's
comments earlier this week when he noted "In
the end, we cannot have a monetary union without an economic
union,"
Another Bilderberg
kingpin, EU president Herman van Rompuy, reiterated
Barroso's statements, telling the media that "We can't
have a monetary union without some form of economic and –
er – political union."
Mervyn King, the governor of the Bank of England echoed these
sentiments yesterday, telling the media that he believes the
European Union will not survive unless financial power is centralized
and a federal fiscal union is formed.
"I do not want to comment on a particular measure by
a particular country, but I do want to suggest that within the
Euro Area it’s become very clear that there is a need
for a fiscal union to make the Monetary Union work." King
stated in
a press conference at the BOE yesterday.
"But if that is to happen there needs to be also a mechanism
to enable other countries that have lost competitiveness to
regain competitiveness. That requires actions, probably structural
reforms, changes in wages and prices, in the countries that
need to regain competitiveness. But it also needs a solid and
expansionary state of domestic demand in the stronger economies
in Europe." King added.
A centralized fiscal union would essentially mean the formation
of a eurozone treasury, with the power to tax and spend, issue
its own debt and manage the budgets of its member states.
As noted by leading economists earlier this week following
Barroso and Van Rompuy's €750bn EU bailout, the move toward
a fiscal union would mean the loss of even more national sovereignty
for member states.
Morgan
Stanley’s European Chief Economist, Elga
Bartsch noted:
Like the ERM crisis in the early 1990s spurred on political
initiatives to bring about the long-planned monetary union
in Europe, it seems that the sovereign debt crisis could be
acting as a catalyst for an ever closer union of European
countries. The decisions taken this weekend first by European
leaders and then by finance ministers mark a big leap towards
a fiscal union in the euro area, we think.
Not only have countries agreed to stand in for each other
in an unprecedented extent, they have also agreed to foregoing
some of their fiscal sovereignty and submit to rigorous fiscal
consolidation programmes should they require financial assistance.
In other words, European nation states are literally signing
over their economic independence to a vastly empowered centralized
system under the threat of economic obliteration.
For many years critics have warned that the EU has been slowly
morphing into a federal superstate governed by unelected powerbrokers,
who have increasingly sought to undermine the national sovereignty
of member states. There can be no doubt that this latest proposal
represents such a move.
What will the people of the member nations gain from this mass
centralized union? They will simply see more of their earnings
and their savings siphoned off to Brussels to prop up a failing
paper currency they had never asked for in the first place.
It will also mean their national vote counts for even less as
unelected foreign bureaucrats are provided vastly more influence
on the national economic policies of their governments.
This is a classic case of problem, reaction, solution - the
very same European powerbrokers that brought us a major crisis,
via
enforced destabilizing monetary integration, are
now offering up the final piece of the jigsaw, full integration
as a means of stabilization.
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