-- Published: Wednesday, 4 February 2015 | Print | Disqus
The Greek minister of finance Yanis Varoufakis is the catalyst that serves to unite the European nations against the EU regime. The current EU regime is increasingly being exposed as serving the interests of Washington rather than its members. Citizens of Europe have correctly identified Brussels as being their enemy, which is evident from the increasing popularity of nationalist “anti-EU” parties in elections all around Europe. Local governments are scared as they have nationalist parties breathing down their neck and know it is only a matter of time before they loose popular support unless they get out from under the oppressive EU regime.
Instead of getting out of the EU(and the Euro), national governments are more likely going to try to overthrow the oppressive EU regime using the Greek situation to do it. The Greek situation is an existential one for the EU as most of southern Europe will soon be in that same situation. We are about to find out just how much political will there is to keep this block of formerly sovereign nations together and if it can act as one sovereign to defend its own interests in the world.
The new EU, after the old regime has been overthrown has a much better chance to serve the interests of its European citizens and member states. A constitutional framework can be written such that it gives direct democratic power and influence by and from citizens and member states in matters where the block needs to take decisions in common.
Such a development has a good chance of reviving the democratic mandate for traditional political parties around Europe, as the main flaw with today's EU is the almost complete lack of democratic representation or direct involvement by those governed by EU lawmakers. Today's EU is looking more and more like an extension of the IMF and US political interests, where member states are being used as pawns on a geopolitical chessboard.
An overthrow of the current EU regime may afford Europe to avoid the trap of nationalism, hate and division between member states. The British empire, from which the US descends, is well known for its famous “divide and rule” strategy. Hopefully Europe has learnt enough from history about empire tactics to be clever enough to avoid falling into this trap yet once again.
As one sovereign, debts between member states no longer matter, only external creditors stand to loose from any write down in debt. After canceling out debt between member states, the EU block as a whole is very much solvent. Most of EU debt is denominated in Euros, thus exposure to currency risk is minimal and foreign held Euro-denominated debt can simply be monetized by the ECB if necessary.
This revolution will be something to behold, where nations of Europe unite in revolt against their common oppressor. The EU has finally delivered on its promise to unite Europe.
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-- Published: Wednesday, 4 February 2015 | E-Mail | Print | Source: GoldSeek.com