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2011-07-14 Europe

As Italy and Spain wobble, Brussels plots a superstate

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Posted by tipper 2011-07-14 02:07|| || Front Page|| [1 views ] Top

#1 The reporter was witty in calling it a great leap forward.

The Chinese Great Leap Forward ended in catastrophe, resulting in tens of millions of deaths. Estimates of the death toll range from 16.5 to 46 million.

Coercion, terror, and systematic violence were the very foundation of the Great Leap Forward, resulting in one of the greatest mass killings in human history.

Posted by Anonymoose 2011-07-14 06:11|| 2011-07-14 06:11|| Front Page Top

#2 Well, yeah, but consider this -

Not only will the eurozone countries have lost control of their interest rate, exchange rate and money supply, they will also have ceded permanently the ability to decide on public spending levels, tax rates and budget deficits.

Their democracies will be hollowed out as all important economic decisions will require the consent of unelected officials in Brussels or Frankfurt (where the European Central Bank is based) with no recourse to domestic opinion.

Worse still, the old saying that he who pays the piper calls the tune will be borne out. To convince German public opinion to take on this new guarantor duty, Germany will have to become the dominant force behind monetary and fiscal policy throughout the eurozone.

It will, however reluctantly, have gained greater European domination through financial measures that ever it did by force of arms.

So they will have fiscal restraint. Where can we sign up?

Posted by Bobby 2011-07-14 08:12|| 2011-07-14 08:12|| Front Page Top

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