[The EU needs a strong, dominant, charismatic 'character' to lead them out of this abyss]
The EU as a political construction is in a state of terminal decay. We know this for one reason and one reason alone: its core principle is the state is superior to its people. A system of government can only work over the longer term if it recognises that it is the servant of the people, not its master. It matters not what electoral system is in place, so long as this principal is adhered to.
The EU executive in Brussels does not accept electoral primacy. It shares with Marxist communism a belief in statist primacy instead. The only difference between the two creeds is Marx planned to rule the world, while Brussels is on the way to ruling Europe.
The methods of satisfying their objectives differ. Marx advocated civil war on a global scale to destroy capitalism and the bourgeoisie, while Brussels has progressively taken on powers that marginalise national parliaments. Both creeds share a belief in an all-powerful executive. The comparison with Marxism does not flatter the EU, and suggests it has a limited life and that we may be on the verge of seeing the EU beginning to disintegrate. Despite economic evolution in the rest of the world, like Marxian communists Brussels is stuck with a failing economic and political creed.
It’s hardly surprising that the Italian people are fed up with their establishment and feel they can only collectively undermine it by voting against it at election time.
But it is too late, because the state, and therefore the banks, are already irretrievably bust, a fact barely concealed by the ECB’s funding of the Italian government at near-zero interest rates through the purchase of government bonds. Not only is the ECB in denial over Italy’s financial situation, but also Italy is firmly imprisoned.
EU banks are insolvent as well
If I am only half right over the timing of the next credit crisis, it will be at the same approximate time as Britain is due to exit the EU in March 2019.
Logically, Brexit should not be deflected by the credit crisis and the Eurozone catastrophe, but the statist instincts of the British government could be to put the whole Brexit process on hold in the interests of global government unity, at least while the management of the larger credit crisis is addressed. The coordination of policy at the G20 level seems bound to take precedence over potentially disruptive political issues such as Brexit.