European Union proposes a new "empire".

[Meat-Hook]

http://www.telegraph.co.uk/news/worldnews/europe/8843785/New-euro-empire-plot-by-Brussels.html

The plan comes as European governments desperately trying to save the euro from collapse last night faced a new bombshell, with sources at the International Monetary Fund saying it would not pay for a second Greek bail-out.

[FunkyPertwee]

The times, they are a changing....

[El Laton Caliente]

I can't get the link to work.

[Meat-Hook]

I just clicked on the link and it seems to be working. It may be slow to loading, but it seems to be working.

[rahatlakhoom]

From article:

On Saturday Tory rebels were among speakers at a “People’s Pledge” pro-referendum rally in Westminster. They included David Davis, the former shadow home secretary, who called the EU a “nascent superstate”.


My comment:

"nascent superstate" with their Aryan Supermen no doubt.
When there is no resource of strength, why pretend that in your
ebb of weakness that there exists a wellhead of power?

This insanity will only lead to more misery, and possibly war.

[Oswald Bastable]

Expect the US stock market to take a tumble tomorrow.

[O.S.O.K.]

Hmmm. So what does that mean for stability? Would it really change anything? I mean, the debt load is what the debt load is....

Besides, I just can't see all of the disparate countries voting to fall under one governance.

Nope.

[El Laton Caliente]

I've been looking to Greece as the first domino... If not them, Italy.

[American Rage]

All planned years in advance

[Warthogg]

I've been looking to Greece as the first domino... If not them, Italy.

You have only to look at the PIIGS El Lat:

Portugal
Ireland
Italy
Greece
Spain



Wart

[American Rage]

You have only to look at the PIIGS El Lat:

Portugal
Ireland
Italy
Greece
Spain



Wart

You left out the US of A

[L1A1Rocker]

I think this will just push out those member states that are in the best financial shape. I think it's a way of seizing the assets of those that are in good financial shape and they will most likely take their ball and leave.

[O.S.O.K.]

You left out the US of A

Let's not forget China then. They are only at the beginning of their loan defaults.

[Warthogg]

Besides, I just can't see all of the disparate countries voting to fall under one governance.

Nope.


European Union chiefs are drawing up plans for a single “Treasury” to oversee tax and spending across the 17 eurozone nations.



A full-scale rescue plan could cost about £1.75 trillion.


British sources said Mr Van Rompuy, who is regarded as being close to the German government, suggested plans for a “finance ministry” to be based either in Frankfurt or Paris.

The EU already has its own “foreign ministry”, headed by Baroness Ashton, the former British Labour minister, and based in Brussels.




http://www.telegraph.co.uk/news/worldnews/europe/8843785/New-euro-empire-plot-by-Brussels.html


I'm not so sure. Desperate people in desperate countries............



Wart

[Warthogg]

You left out the US of A

Only because I was looking to Europe.



Wart

[old Grump]

A senior Coalition source told The Sunday Telegraph: “I am well aware of arguments in Brussels and elsewhere in favour of a single Treasury. You’d get any number of different versions of 'Europe’ all running at very different speeds.” The problem to my way of thinking is they can't get out of the mindset that bigger is better, a typical socialist mistake. A conglomeration of small kingdoms each with their own system that works for them and is small enough to be manageable but bound by treaty for trade and cooperation in things like crime control and defense would work better in my opinion. If a single country goes rogue for a period it is only one small part independent of the whole and would have minimal impact on the rest of the states.

This One Europe thing is every tyrants wet dream only with one of them on top calling all the shots and the rest of the tin pot dictator types maneuvering to get his seat of power.

I only see that the bigger a bureaucracy is the less efficient it is, the more expensive it is and the more opportunities for corruption on a grand scale exists that could never be pulled off in a smaller economic system.

Just my dos centavos as a dinosaur who doesn't think anything should be considered to big to fail. If it gets to big it has to fail from its own internal corruption.

[Warthogg]

The problem to my way of thinking is they can't get out of the mindset that bigger is better, a typical socialist mistake. A conglomeration of small kingdoms each with their own system that works for them and is small enough to be manageable but bound by treaty for trade and cooperation in things like crime control and defense would work better in my opinion. If a single country goes rogue for a period it is only one small part independent of the whole and would have minimal impact on the rest of the states.

This One Europe thing is every tyrants wet dream only with one of them on top calling all the shots and the rest of the tin pot dictator types maneuvering to get his seat of power.

I only see that the bigger a bureaucracy is the less efficient it is, the more expensive it is and the more opportunities for corruption on a grand scale exists that could never be pulled off in a smaller economic system.

Just my dos centavos as a dinosaur who doesn't think anything should be considered to big to fail. If it gets to big it has to fail from its own internal corruption.


If it gets to big it has to fail from its own internal corruption.



Dubya and Barry do NOT agree with you. Both Dubya, Barry and the Federal Reserve believe banks (etc., etc.) that are big and too rotten to stand on their own should be bailed out by the taxpayer.



Wart

[Warthogg]

I think this will just push out those member states that are in the best financial shape.

I think it's a way of seizing the assets of those that are in good financial shape and they will most likely take their ball and leave.

I don't understand. Splain please.

[Warthogg]

Let's not forget China then. They are only at the beginning of their loan defaults.

Yup........only recently have I come to realize what a bucket of worms China must deal with.



Wart

[old Grump]

Dubya and Barry do NOT agree with you. Both Dubya, Barry and the Federal Reserve believe banks (etc., etc.) that are big and too rotten to stand on their own should be bailed out by the taxpayer.



WartNeedless to say I do NOT agree with them either. One more reason why I bailed out of the Republican Party and became a Libertarian. The results of our leaving our responsibilities in government hands has led us to the fine mess we are in today. Call me a hardheaded old dinosaur but I think I am better qualified to handle my affairs than some bureaucrat getting his guidelines out of some book written by another bureaucrat.

[El Jefe]

Yup........only recently have I come to realize what a bucket of worms China must deal with.



Wart

And if they're not real careful they're going to end up holding a mountain of monopoly money. Which certainly won't help their race against the clock and the numerous central planning gaffes they've had.

[Full Otto]

I've been looking to Greece as the first domino... If not them, Italy.

Speaking of Italy some there have even bigger ideas

http://uk.reuters.com/article/2011/10/24/vatican-economy-idUKL5E7LO1LS20111024
The Vatican called for the establishment of "a supranational authority" with worldwide scope and "universal jurisdiction" to guide economic policies and decisions.

[El Jefe]

Speaking of Italy some there have even bigger ideas

http://uk.reuters.com/article/2011/10/24/vatican-economy-idUKL5E7LO1LS20111024
The Vatican called for the establishment of "a supranational authority" with worldwide scope and "universal jurisdiction" to guide economic policies and decisions.

Screw that!

[Full Otto]

"universal" ...??

[old Grump]

Catholic means universal and I understand where they are coming from but they are wrong, wrong, wrong. Now the Jesuits are going to find me and question me under the hot lights as they question my faith as a Catholic. I don't care, the only thing that makes sense to me is every nation handle its own affairs and not have to worry about getting permission to do something from some economist half way around the world with a different agenda. Bigger is not better in politics and business. Cooperation yes but this universal one world bull puckey just does not ring my bell.

[Warthogg]

And if they're not real careful they're going to end up holding a mountain of monopoly money.

China is well aware of the possibility (probability ?) and has spoken publicly regarding their concerns.



Wart

[Warthogg]

The Vatican said the International Monetary Fund (IMF) no longer had the power or ability to stabilize world finance by regulating overall money supply and it was no longer able to watch "over the amount of credit risk taken on by the system".

The world needed a "minimum shared body of rules to manage the global financial market" and "some form of global monetary management".

"In fact, one can see an emerging requirement for a body that will carry out the functions of a kind of 'central world bank' that regulates the flow and system of monetary exchanges similar to the national central banks," it said


In a purely technical sense the Vatican is right. However, one would have to believe in the 'good' of man to voluntarily move into such a system. I do NOT believe in the 'good' of man.

Perhaps the Catholic Pope intends to exorcise greed, selfishness and maybe even avarice from the Central Bankers.


Wart

The Vatican accuses us of "hoarding" yet would trust us with a central bank. Maybe this Pope is still a Nazi.