In the two years since David Cameron promised his electors a vote on whether Britain should, or should not, stay in the European Union (EU), things have radically changed. In fact one should first of all verify whether the so called EU still really exists !!!
All the 27 countries in the old EU are in a quandry because of the bail-outs of Ireland, Portugal and Greece. Two other countries are also hovering on the brink of "bankruptcy": they are Italy and Spain. All five countries have the EURO as their national currency just like 12 other countries in the EU !!!
However what really worries everyone is that Greece urgently needs a second Bail-out equal in size to the first one (110 Billion Euros).
This has led to a EUROZONE CRISIS. President Sarkozy of France and the Lady Chancellor of Germany, Angela Merkel, organised the first Bail-out for Greece and had envisaged a second Bail-out subject to the agreement of their parliaments. These agreements seem not to be forthcoming !!! National elections are due in France in 2012 and in Germany in 2013. Both Sarkozy and Merkel have lost popularity by their actions over Greece.
I have pointed out frequently in this blog that it was an error not to let Greece become Bankrupt because the root cause of its financial disaster was due to uncontrolled overspending which started even before Greece joined the EU and adopted the EURO !!! One has suddenly realized that all loans made will be bad debts.
David Cameron has, I think, realized that there is the EUROZONE, destined to become the United States of Europe (USE) and the EU without the euro !!! The time is not right to renegotiate Britain's adhesion to what the EU has become or what it will be like in two years time.
To think the EURO problem concerns loans of more than 250 billion Euros and in France for example, taxes are being raised to provide only millions. This is driving people mad !!!
All the 27 countries in the old EU are in a quandry because of the bail-outs of Ireland, Portugal and Greece. Two other countries are also hovering on the brink of "bankruptcy": they are Italy and Spain. All five countries have the EURO as their national currency just like 12 other countries in the EU !!!
However what really worries everyone is that Greece urgently needs a second Bail-out equal in size to the first one (110 Billion Euros).
This has led to a EUROZONE CRISIS. President Sarkozy of France and the Lady Chancellor of Germany, Angela Merkel, organised the first Bail-out for Greece and had envisaged a second Bail-out subject to the agreement of their parliaments. These agreements seem not to be forthcoming !!! National elections are due in France in 2012 and in Germany in 2013. Both Sarkozy and Merkel have lost popularity by their actions over Greece.
I have pointed out frequently in this blog that it was an error not to let Greece become Bankrupt because the root cause of its financial disaster was due to uncontrolled overspending which started even before Greece joined the EU and adopted the EURO !!! One has suddenly realized that all loans made will be bad debts.
David Cameron has, I think, realized that there is the EUROZONE, destined to become the United States of Europe (USE) and the EU without the euro !!! The time is not right to renegotiate Britain's adhesion to what the EU has become or what it will be like in two years time.
To think the EURO problem concerns loans of more than 250 billion Euros and in France for example, taxes are being raised to provide only millions. This is driving people mad !!!
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