Europe mulls major step towards "fiscal union" … When Jean-Claude Trichet called last June for the creation of a European finance ministry with power over national budgets, the idea seemed fanciful, a distant dream that would take years or even decades to realize, if it ever came to be. … One year later, with the euro zone's debt crisis threatening to tear the bloc apart, Germany is pushing its partners for precisely the kind of giant leap forward in fiscal integration that the now- departed European Central Bank president had in mind. After falling short with her "fiscal compact" on budget discipline, German Chancellor Angela Merkel is pressing for much more ambitious measures, including a central authority to manage euro area finances, and major new powers for the European Commission, European Parliament and European Court of Justice. She is also seeking a coordinated European approach to reforming labor markets, social security systems and tax policies, German officials say. – Reuters
Dominant Social Theme: This Union is not working. We need more of it.
Free-Market Analysis: Reuters does us the service of providing a view of the bigger picture when it comes to the European Union: The choice is between more of the same – and a LOT more of the same.
You would think that a political process that has bankrupted half of Europe, inflamed citizens to the point of rioting and burning down parts of Greece might be abandoned as a detriment to the larger society. But when it comes to power elite machinations there's little chance of that.
Reuters, a mouthpiece of the power elite that apparently seeks world domination, is clear about the reality of the modern European argument. While other publications offer a seemingly confused view of the argument, Reuters clarifies: There is only a choice between terrible chaos and a greater union. Here's some more from the article:
Until states agree to these steps and the unprecedented loss of sovereignty they involve, the officials say Berlin will refuse to consider other initiatives like joint euro zone bonds or a "banking union" with cross-border deposit guarantees – steps Berlin says could only come in a second wave.
The goal is for EU leaders to agree to develop a road map to "fiscal union" at a June 28-29 EU summit, where top European officials including European Council President Herman Van Rompuy will present a set of initial proposals.
European countries would then put the meat on the bones of the plan in the second half of 2012, several European sources have told Reuters, including a timetable for overhauling EU treaties, a step Berlin sees as vital for setting closer integration in stone.
"The fundamental question is relatively simple. Do our partners really want more Europe, or do they just want more German money?" a government official in Berlin said.
If European countries go ahead, the steps would represent the most significant policy leap since they agreed to give up their national currencies and cede control over monetary policy 13 years ago. But the hurdles are daunting.
"The world is not coming to an end; rather, it feels as if we are on the doorstep to another major European integration move," said Erik Neilsen, chief economist at Unicredit. "But why do these initiatives only come when we are on the edge of the cliff where the risk of an accident is so much higher?"
Hey, dear reader, don't say we didn't warn you. While we began to cover the Euro-crisis from the standpoint of its surface reality, we soon began to wonder if the entire mess was not, in fact, a phony one. The global economy we've got now is anything but free market, after all.
The global economy is driven by central banking and by banks in general. Those at the top, the power elite dynastic families, control the world's central banks, in our view, and use that vast treasure to promote one-worldism.
Their main tool is the dominant social theme, the fear-based promotion that seeks to frighten middle classes into giving up wealth and power to specially prepared globalist institutions.
The takedown of European sovereignty is a classic example of this strategy. We are supposed to believe that banks lent billions and billions to Greece and other PIGS out of greed.
Well … we're well past believing this was entirely a coincidence. Seems to us this takedown was in a sense planned, or at least inevitable. We've long predicted the results, as well. More union. More transfers. More Brussels.
This is how a world government is built – crisis by crisis. We call it directed history.
The crises are phony and the solutions are preordained.
The tension regarding this narrative is provided by the Internet itself – what we call the Internet Reformation – that is making it very hard for the powers-that-be to control the ramifications of what they have set out to accomplish.
It is hard to build a "new world order" in secrecy when your every move is being traced and tracked by ten thousand blogs and millions of readers. This is the problem.
We are not sure the elites shall be able to control what they have wrought. In the 20th century we'd not have been so doubtful. But we've watched too many elite memes blow up in the 21st century.
From Peak Oil to the War on Terror to the controlled, central banking economy itself, memes that the elites could previously count on have been exposed and decimated.
The point of view inherent in the Reuters article is that the "peoples" in Europe are NOT resistant to the evolution of a more powerful EU. We're not so sure. The article does admit that "many of Europe's struggling citizens already blame technocrats in Brussels for their troubles."
For this reason, the article adds that "officials are mulling a significant strengthening of the role of the European Parliament (EP), which is directly elected by the bloc's citizens."
The EP, in fact, has no real power now. It will be interesting to see if it actually receives some or if the actual decisions about Europe shall continue to be made by a handful of unelected bureaucrats.
A German official at a European institution said, for example, that oversight powers for the bloc's permanent rescue fund – the European Stability Mechanism (ESM) – could be transferred from national assemblies to the EP. The French official said it would inevitably fall to the EP to monitor the European Commission if it won new powers over national budgets.
Hmm. Sounds like progress. We don't figure the top elites want to give up ANY power. These climb-downs represent necessity trumping authoritarianism.
But we have a hard time with the whole thing. As far as Germany goes, the article seems an exercise in wishful thinking. Merkel has been regularly losing elections. Do the top elites really believe that Germans can be convinced a closer union will not result in German bankrolling of the entire Southern EU?
Such suasion might have been better accomplished pre-Internet, before the long-suffering peoples of the EU were aware of the extent of their manipulation.
It's a case of dominant social theme versus Internet Reformation. This is the narrative of the 21st century.