Illegal Bailouts!

There you have it! Even the Bundesbank know that the EU bail outs are illegal, and are simply a way to bring debt union (fiscal union) in through the back door!

http://www.telegraph.co.uk/finance/financialcrisis/8716783/Bundesbank-questions-legality-of-EU-bail-outs.html

Economic Government might have just finally arrived

So, I’m sitting here watching Sky News Live, and they’ve only just switched to the Euro Summit (or better said Franco-German summit to save the Euro) in Paris, as the news conference currently goes on. Breaking news it seems – “Merkozy” (coined this word from what I saw in today’s Telegraph) seems to have decided that the solution to the euro’s woes are “collective government for the Eurozone led by the EU President.”

So there you have it. The EU President comes into office in grandiose style post-Lisbon, with supposedly lots to do but in reality very little other than chair a few meetings a year, has a power struggle with the Commission but loses, so he needs something to do to legitimise his position. I seem to remember him shortly after taking office speaking about “economic government for Europe” and the furious reaction that his statement created.

Look at these links: http://www.independent.co.uk/news/world/europe/eu-presidents-secret-bid-for-economic-power-1894549.html and http://www.eubusiness.com/news-eu/summit-economy.2l4 - couldn't get it more from the horse's mouth than through EU Business.

But if instead you're interested to know how an economic government might be run, just take a look at what the head of the Eurogroup said back in April - http://euobserver.com/19/32222

So, here we are, a few steps down the crisis line, and wow, suddenly the solution seems to be precisely what the EU President proposed, because he now has something to do by being put in charge of it. Sounds like an outcome that was pre-determined to me (I just don’t trust the way some of these Eurocrats think, and yes, Presidents and Chancellors of sovereign countries are just part of the Eurocrat machine) and it was just a case of finding the right “opportunity” to bring the idea in. What better time than when the crisis really is at the end of the line, and enough panic has been created, and the markets are jittery? Anything can be forced through in the name of economic stability, regardless of political consequence.

I’m upset with Sky News and the BBC – both are just reporting it as a moving ticker underneath their broadcasts – and carrying on reporting other events like it is not important. Sky claims its source as the Associated Press but I can’t even find an article yet on their front page either. It really is amazing how the UK press is completely under control – I trust economists’ blogs now more than news reports.

Political union is well and truly alive, and whereas economics were cast aside before in the name of political union, now it is the mechanism by which political union will be achieved. I suppose that all you had to do was to create the economic crisis by forcing the creation of a single currency for political purposes, ignoring all the economic advice, and then when that advice turned out to be right, suddenly you could focus your attention on the economic problems and advance your political agenda through them. What a con – and everyone is in on it.

Notes

1) Even David Cameron knew the economic government idea was coming: http://www.euractiv.com/en/priorities/Britain-wins-opt-out-on-economic-government-news-495370)

2) 10 minutes later....Some news articles just being posted to the net: http://www.newser.com/article/d9p59i2g0/merkel-sarkozy-propose-eurozone-economic-government-amid-debt-crisis.html

3) Anyone for a secret debate? http://euobserver.com/19/32222 It's precisely because of this way of thinking, which pervades the EU to its inner core, that I cannot support the European project.

There's your EU

Love the way too that a German court now has the right to ban sales of Samsung's new tablet throughout the EU (except the Netherlands) Did anyone notice? And there you have it - I don't want to digress from the issue of this board but a German court in Dussledorf has now decided British law as to the sale of a product. The EU doesn't even bother transferring the obligation to enact the same law to the British legal machine, to give the EU credibility and legitimacy - they just do it from another country, and we comply. There's your EU.

50% hike in British rail fares? Thanks EU!

Below is the comment I made on the following Facebook post, from the EU Referendum Campaign:

https://www.facebook.com/eu.campaign/posts/124688387627241

Comment:

There are some really interesting comments being made here, and it makes a change to see a intellectual discussion that doesn't descend into name-calling, as can so often happen to comment threads of newspaper articles. I would like to state that BR was just another tragic case of an industry (and jobs) being destroyed because of EU rules, and let's not even mention the most criminal of policies - fisheries, and what it has done to the UK. I stand in agreement with the points that the destruction of our trade links with the Commonwealth was the prerequisite of entry (as was the subsequent domination of France in agriculture, because it suddenly became cheaper to buy from France than import from the Commonwealth) but that was always part of the plan. The beauty of it is that the French built their dominance on the back of subsidies AND by having the rest of Europe as their customers, not out of choice but because high tariffs made everywhere else expensive! Neat trick. I also agree wholeheartedly with the same-old European attitude, in particular France (and other countries) where they constantly disregard the rules without fear of consequence. In turn, they then abuse the law-abiding UK as they fearlessly buy up our companies. (Surprised EDF wasn't mentioned - remember when they charged us more to subsidise cheaper bills in France?) It's not protectionism I support, but a fair playing field - and that just doesn't exist! As I always tell my students, just try to buy a French supermarket or bank, and let's see what happens! Would love Tesco to go to France and sell apples from New Zealand or South Africa more cheaply than French ones! In conclusion, if the EU can't get it right economically, and then we consider the fact that politically it is corrupt and void of democracy, the case is getting stronger by the day to leave and reestablish our relationship with those countries that DO choose to be part of the EU, as people finally realise the Brussels effect on their lives. For years I've seen the way things were going, as I'm sure many of you have - and if someone would pay me to write about the EU I gladly would(!) but I leave you with a lovely link from yesterday's papers - pay attention to what the Italian Prime Minister is reported to have said. Thanks for reading.http://www.telegraph.co.uk​/finance/comment/ambroseev​ans_pritchard/8700782/ECB-​is-eurolands-last-hope-as-​bail-out-machinery-fails-t​o-resolve-crisis.html