Tuesday, June 19, 2012

The European Model a Sinking Ship with its Life Boats Full of Holes.

Feeling the heat from Canada and other members of the G20 about Europe's never ending debt crisis, the economy troubles of the Euro zone, its' out of control spending habits, borrowings and recent bank debt restructuring the president of the European commission had a hissy fit and lashed out at members of the G20 meeting currently being held in Mexico.

Mr. Jose Manuel Barroso, the European Commission president, hissed to his audience that "Frankly, we are not coming here to receive lessons in terms of democracy and in terms of how to run an economy because the European Union has a model that we may be very proud of."

Perhaps Jose Manuel had a memory lapse or two and forgot that the constitution of the EU commences with the words "His Majesty the King of the Belgians" whereas “We the People” is the start of the USA’s constitution!

Thus similar to past ultra nationalistic European governments that had no time for a parliamentary democracy, the EU has accepted undemocratic constitutional means in determining a method for their so called united Europe.

Its formation and constitution achieved relevant majorities in the legislative bodies of would be member states by not accepting the referendum results or by the ballots of citizens within member countries.  

Now Jose also stated that his EU has no lessons to learn from nobody within the G20 or the Globe.

Citizens from all countries should keep in mind that the political class of aristocrats, technocrats and lifelong career bureaucrats represents no one but themselves.

As such it must be clearly obvious to Mr. Jose Manuel, Barroso the anointed president of the European Commission that now is the time to stop borrowing money.

And cease spending the money of citizens from  other countries and corporations in the EU’s losing attempt to prop up, bail out or reverse the continued and past political economic policies of Greece, Spain, Portugal, Ireland and other EU countries that have and continue to violate the rules laid down at the creation of the euro.

So please Mr. Jose Manuel Barroso as president of your European Commission do not ask or accept any money from the World Bank, IMF and other countries and their taxpaying citizens from around the world.

By centralizing all bank assets and liabilities from member states within the euro zone into a political too big to fail banking system could be that last straw for the Euro as a currency in the near future, thanks to technocrats like Jose.

Now the total unsustainable government and banking debts of Spain, Greece, Italy, Portugal, Ireland and France are all tied together and if it fails they all go bankrupt.

For now they have forestalled the inevitable bankruptcy of Spain’s national banking system with this recap of the Spanish banking system by a paper exchange of bonds for stock to alter the mix of debt and equity financing without changing the total amount of capital known as recapitalization in an effort to avoid bankruptcy.

The survival of the Euro and the Euro zone rests with Germany and the other EU countries saying goodbye to Greece, Italy, Spain, Portugal and Ireland.

If the European Union truly wishes to survive this financial crises which was caused by their own making, it must allow Greece and other bankrupt EU member countries to declare bankruptcy, leave them behind and move on without them as a member of the EU union.

The Dutch finance minister recently had a valid point but defeats his position by asserting that the Netherlands shall continue to support the bailout packages even though they also violate the rules laid down at the creation of the euro.

Seems they all talk out of both sides of their mouths these career politicians and their respective unelected bureaucrats all of whom got the global economies into this financial crisis in the first place.

Instead of this new world order policy of being suspicious of anyone who is successful best they stop being “blame-passers" who never takes responsibility for their own mistakes and failures or come to grips with their personal refusals to be held accountable for their UN elected political decisions.

Failure to do this just prolongs the inevitable and complete demise of the Euro and the EU union.
Truly a global monetary crisis caused by a political financial pyramid scheme which has resulted in crimes against humanity unmatched in the history of mankind.

As for the European model and its economy, Mr. Jose Manuel Barroso, it is that of a sinking ship with its life boats full of holes.

What happens when Russia permanently pulls the plug on the European Union’s supply of gas and oil?

Will Canada, the United States, Australia, New Zealand, China and other countries outside of the European Union be called upon to rescue Europe for a THIRD time?

UPDATE http://ca.news.yahoo.com/cyprus-parliament-vote-savings-levy-000315775--business.html

1 comment:

  1. It's important, not to forget, where North Amercans, originate, as well what economic rule model, Europeans follow, if the answer is "completly different, from Canadian", then Canada, should opose any strategic plan, for European recovery and become prowdly independent, not listennig to the "bipolar", Mr. Barroso..........


Thanks for your thoughts, comments and opinions, will be in touch. Peter Clarke