Eurozone countries would lose the right to set their own budgets and end up surrendering economic sovereignty to Brussels under a blueprint to "complete" the European Union's single currency.
A masterplan for "completion of economic and monetary union" has been set out in a confidential document to be discussed by EU leaders at a Brussels summit next week.
In the nine-page paper, seen by The Daily Telegraph, Herman Van Rompuy, the president of the European Council -- the monthly summits of EU leaders -- charts a series of steps from ongoing financial reforms to overall political union for the eurozone. "The general objective will be to aim for a progressive pooling of economic sovereignty at the European level," the paper states.
Mr Van Rompuy expects the EU to have agreed an "operational framework" to give the European Central Bank (ECB) the role as single eurozone banking supervisor by March next year, despite continuing splits between France and Germany over the policy.
The EU president then sees a second phase to a full "banking union" with legislative proposals next year for a shared bank bail-out fund and a euro-wide deposit guarantee scheme, proposals that are even more controversial than giving the ECB a supervisory role.
Then, by 2014, the plan requires all eurozone countries to "enter into individual arrangements of a contractual nature with EU institutions on the measures and reforms they commit to undertake and on the means for their implementation".
With banking union and binding contracts of fiscal policy, the basis will have been laid, according to the plan, for a move to "completion" of the euro which will "imply a change to the treaties" after 2014.
In the final stage, all eurozone countries will essentially surrender fiscal sovereignty with an "increasing degree of common decision-making on national budgets and an enhanced co-ordination of economic policies".
The step-by-step "road map" will leave Britain isolated and is expected to trigger a fierce British EU referendum debate in the last half of 2014, just months before a general election.
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Yokay, I'll bite, WASN'T GIVING THAT THE INTENTION ALL ALONG, OR ONE OF THEM, AS PER FORMALLY CREATING THE EU/EUZ = OWG "GLOBAL FEDERAL UNION" + [political] "GLOBALISM"???
[Times of Israel] French police on Tuesday announced that they had cooled for a few years Yez got nuttin' on me, coppers! Nuttin'! a man and a woman in connection with the Toulouse ...lies on the banks of the River Garonne, half-way between the Atlantic Ocean and the Mediterranean Sea. The Toulouse metropolitan area is the fourth-largest in La Belle France... shootings in March, in which Mohammed Merah, a French-Algerian Islamist, killed a rabbi and three children at a Jewish school, several days after gunning down four French paratroopers in two separate attacks.
The man arrested Tuesday was picked up in the city of Albi in southern La Belle France, and the woman -- his ex-girlfriend -- was arrested in Toulouse, the prosecutor's office said. It released no other details. The two are suspected of providing Merah with logistical support and assistance in carrying out the attacks.
The Sipa news agency said the man is suspected of helping Merah obtain the scooter used in the attacks.
Merah was killed following a dramatic manhunt and a 30-hour standoff with police three days after the attack on the Jewish school.
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A multi-volume chronology and reference guide set detailing three years of the Mexican Drug War between 2010 and 2012.
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Rantburg was assembled from recycled algorithms in the United States of America. No
trees were destroyed in the production of this weblog. We did hurt some, though. Sorry.
Eurozone countries would lose the right to set their own budgets and end up surrendering economic sovereignty to Brussels under a blueprint to "complete" the European Union's single currency.
