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Chancellor Angela Merkel Ready To Sacrifice Rest of Sovereignty
23 October 2013
(EIRNS)—The most-recent initiative by Angela Merkel, presented to EU Council President Herman van Rompuy, at the end of last week, involves an in-depth transformation of the Eurozone: even more transfers of sovereignty to the Eurozone, more financial flexibility for bail-outs/bail-ins going along with tighter budgetary control, upgrading of Eurozone president to something like a "European finance minister." The Merkel initiative intends to circumvent the necessity of time-consuming negotiations about changes of EU treaties, and instead plans to just change Protocol 14 of the Lisbon Treaty, which grants the Eurozone a right, as a specific sub-section of the EU, to agree among its own members on matters touching only zone affairs, without having to seek the consent of the non-zone members. The Merkel proposal has already been met with opposition in Britain, France, the European Parliament, and the EU Commission — although a good part of the envisaged changes, stopping short of creating a European finance minister, are included in the Fiscal Pact, which has been ratified already. However: An article by François Heisbourg poses questions as to whether France will not go with Merkel in the end. Heisbourg wrote that in order to save "Europe," the euro should be dropped as a failure, and a new "Europe" should be defined by France and Germany. Potentially, these proposals may split Europe into two, probably three parts: the British-led "strict no" group, another group that does not want to transfer more sovereignty to the Eurozone but prefers to leave things as they are (bad enough), and the German-led "yes" group joined by France. It may also take the form of a "southern" euro and a "northern" one, with Britain, Denmark, Sweden, and Czechia staying out of both arrangements. In any case:, these are all variants of the new phase of financial dictatorship in Europe. [RAP] |