The End Is Nigh

For a long time, I have been anti EU. I believe that it is a vast money wasting bureaucracy that serves no purpose other than to give jobs to dead duck politicians. They love it, of course, because it gives them buckets of cash and an unrestricted access to a monster gravy-train with little public limitation. It is undemocratic and useless. Now, as yet more woe piles on woe in the euro-zone, the European Commission calls for more support for "sinner states". How much support? Already the debts are heading for infinity with, naturally, no end in sight. Now Spain is heading for the exit doors becoming less and less able to fund its debts. Giving them a big bung to tide them over will yet again only delay the inevitable, making the final denouement even more catastrophic than it is going to be. Spain cannot escape. The debt is going up and up. the economy is shrinking, the unemployment rate is 25% and rising. Income falls, expenditure increases and more money has to be borrowed. At root, no politician is prepared to admit that the whole euro idea was crackers and doomed from day one. The uncritical supporters of the great European dream always wanted a federal Europe but they know now that citizens of Europe will never agree to such a thing. So they wriggle; tell us that constitutions are merely updated treaties; paste sticking plaster in every new leak and lumber the whole world with the consequences of their maneuvers.

The report published today by the European Commission proposes that the countries of the eurozone should create a "bank union" under which all countries would stand behind the collapsing banks. The Commission said that they would consider relaxing Spain's deficit reduction targets — thus allowing them to acquire more debt. The markets are not impressed since the new scheme will be rejected by the Germans.

Has there ever been, in modern times a political monstrosity to compare with the European Union? The sooner is dies the death the better. Supporters want a vast single " country" to compete with America and China. It will never happen. Where necessary we should work together as groups of countries to make things like Airbus, etc.

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