Wednesday, July 20, 2011

The EU: At a Tipping Point?

It is fascinating to watch the developments within the EU. They seem to be just on the brink, and headed for either some kind of a break-up (at least the eurozone) or further consolidation of centralized power. Either way, it appears that changes are on the way. Which way will this go?

People Power In Germany Wrecks Havoc With Elite Plans For An EU Financial Union

Plans by the elite to use the growing debt crisis engulfing the eurozone to push through an EU treasury, tax system and bigger debt pool are meeting tough resistance from the people in Germany, where scepticism about the euro and the bankster bailouts has reached new heights.


It looks like the power people in the EU see these crises as opportunities to further consolidate power. Similar to what we are seeing in the U.S.

Thanks in large part to the independent media, a critical mass of people in Germany and elsewhere across Europe have come to understand that the eurozone bailouts are a subterfuge for transferring the wealth of tax payers to American, German and French banks under the pretext of having to make interest payments on fractional-reserve, paper banking debts. Financial expert Dirk Müller is even a predicting popular uprisings to end the euro experiment.


Thus far, however, those who desire a stronger centralized EU government have been winning this battle.

This grassroots opposition in Germany is making it impossible for the elite arrogantly to alter the political and financial architecture of the EU in summits to enable it to become a financial super state collecting taxes without any accountability to voters.


We'll see.

Last week, the eurozone debt crisis underwent a massive escalation when it moved beyond the peripheral countries of Greece, Ireland and Portugal to the core economies, engulfing Italy and lapping even at Germany’s borders.

With so little political support, it is impossible to see how the ECB, EU and IMF can continue with their euro project in its current form


Exactly. Where this is headed will be fascinating to watch - especially as we await developments which lead to the 10 kings phase.

Eurozone debt crisis could prove 'very costly' for the world, warns IMF

The International Monetary Fund (IMF) has urged eurozone leaders to take immediate action over the region's debt crisis, warning it could prove "very costly" for the world.


And below is a very telling quote:

Europe's policymakers must press on with deeper economic integration to "stay the course", the global lender said ahead of Thursday's crunch summit of eurozone leaders.

"To put the crisis behind, we need more Europe, not less. And we need it now," said Antonio Borges, director of the IMF's European department, as it released its assessment of the turmoil.

On Tuesday night, diplomats in Brussels were warning of "bedlam" unless a deal is "more or less" sealed on Thursday.

The crisis around Greek debt now poses "serious risks" that it will infect the region's core powerhouse economies, such as Greece and France, even if officials pursue a strategy aimed at avoiding a default by Athens, the IMF said.

If the crisis were to spread to the core euro area, this could have "major global consequences", the IMF said. "Decisive further policy actions to contain the crisis are critical not only for the euro area itself, but also from a global perspective.


Barroso lays down the line for EU summit

Amid continued uncertainty over whether Thursday's summit will be a success, European commission president Jose Manuel Barroso has stepped into the breach with a list of five must-do tasks for eurozone leaders to achieve at the emergency meeting.

Calling on the 17 eurozone countries to "show European responsibility", Barroso said that the summit must at a "minimum" provide clarity on a second bailout for Greece and on the "feasibility and limits" of private sector involvement.

A summit without a response will mean "negative consequences will be felt in all corners of Europe and beyond".

Barroso is the first leading EU politician both to spell out the seriousness of the eurozone crisis, which lately has been lapping at the heels of Spain and Italy, and what is needed as a response.


Also see:

Only Germany can save EMU as contagion turns systemic

Europe's leaders have finally run out of time. If they fail to agree on some form of debt pooling and shared fiscal destiny at Thursday's emergency summit, they risk a full-fledged run on South Europe's bond markets and a disorderly collapse of monetary union.

"We are heading towards fiscal union or break-up," said David Bloom, currency chief at HSBC. "Talk is no longer enough as the fire threatens to leap over the firebreak into Spain and Italy.

In essence, this is a soul-searching drama within Germany over its own national destiny and place in Europe, echoed in the Netherlands, Finland and even France. Europe's confusion reflects the schizophrenia of its ancient tribal nations, each faced with the fateful choice of crossing the Rubicon to an EU Treasury and joint government or letting the EU project unravel after half a century.

"We are approaching the endgame for this part of the European sovereign crises..."


The EU is clearly reaching a breaking point and one can only wonder if we are seeing the first stages of their development into the 10 kings stage. Either way, changes will be coming to the EU - whether it is more centralized power and growth or some kind of collapse. The changes appear to be coming rapidly, so we should have some answers relatively soon.

11 comments:

Expected Imminently said...

Hello Scott

There is an awful lot bubbling in the pot and its about to boil over.

The BBC reports that the banks must be prepared to take some of the financial burden of the debt crises with Greece. They are to make the interest lower to help with repayments of an increased loan - a HUGE figure well beyond my ken!

I think Italy may be next on the list?

My mum watched Parliament today as Cameron was having to give 'answers' about his link with a friend that is up to his neck with the phone hacking. I don't know the outcome yet, but it is very serious.

Did you know the Head of Scotland yard felt obliged to resign over the hacking debacle? Then his 'understudy' also resigned the next day.

Fings aint wot they used to be - for sure!

Maranatha - quick!
Sue

Scott said...

There has been a lot of news coming out of the UK lately hasn't there? With the military base thing, and the namking situation, bailing out Greece, the move away from the EU etc etc....It just seems like a lot has been coming from your neck of the woods!

Anonymous said...

It does not matter whether the meeting ON THURS is a success or
NOT......does not matter....

according to current WAVE COUNTS,
the Muni Bond market in the US is
about to crash.

The same can be said for Gold and Silver and stocks.....massive speculation is apparent in Tech stocks like AAPL and others...

there is A CRASH coming....

nothing can change that.

people are TOO GREEDY now....

Stephen >>>>>>>>>>>>

Anonymous said...

Stephen-yes people are too greedy now, and "they" are desperate to keep the euro afloat so... love, ally

Anonymous said...

well, my my, did you see the vandilization of the georgia guidestones? quite interesting. i don't support vandals. i think a backhoe would have been more appropriate than a can of spray paint however very interesting graffitti!

Anonymous said...

Dear Ally and Scott please go here:

URGENT

http://www.ufmsecretariat.org/en/president-mahmoud-abbas-at-the-headquarters-of-the-secretariat-of-the-union-for-the-mediterranean/

MR. AMRANI NEEDS TO BE WATCHED
VERY VERY CLOSELY....

I AM VERY CONCERNED ABOUT THIS.

IF HE IS THE ONE, AND SOME GROUP
TRIES TO GUN HIM DOWN, AND HE
COMES BACK.....LOOK OUT.

THIS IS THE FIRST I HEARD OF HIM
TALKING TO ABBAS LIKE THIS....

IF SOMETHING HAPPENS TO HIM AND
HE SETS UP A PEACE DEAL, LOOK
OUT, HE IS THE ONE.....i go
to the UFM site every 24 hours,
just so u know.....

STEPHEN >>>>>>>>>>

DrNofog said...

Interesting, but it is old news...
Warning - Some 4letter word content.

Georgia Guidestones Vandalized - Dec 14, 2008

Clearer pix here

DrNofog said...

Stephen, I see yer at it again with the Gold and Silver crash, but do you even realize what you are saying with "...the Muni Bond market in the US is about to crash..."???

The munis are just PAPER backed up by [fast-fading] "confidence" in the PAPER Dollar, NOT "hard assets" like GOLD, so if the munis crash that's the same as saying the dollar crashes ... and there goes yer whole Eliot Wave hype...

And, I'm still waiting on some answers from you..., so it EI!!

I'm beginning to suspect that you don't read any posts - you just post your "sell off gold an' silver" hype instead.

Or, you don't answer any posts that have tuff questions 'cause you don't have any legitimate answers...maybe??

After reading some of the propaganda that Elliott Wave International puts out, I'd bet dollars to doughnuts that they are the official schills for the IMF/IBC.

You made this ridiculous statement: "...the belief that the FED can produce inflation, no no, I do NOT think so...", based upon EWI's old Marxist ploy of finding and using a "buffoon" [Lindsey Lohan, who just had a little ray of illumination shine in and she spoke the truth about the Fed & inflation] as "proof" that the "Principle" itself is untrue!!

And that's why I called into question your understanding of, not just the Fed, but really, the whole International Bankster's inflation-creating, fractional banking scam!!

No reply...

EI also had a follow-up to your continual "Dollar rally-Euro&Gold bust" posts, and I asked Did you "miss" it or did you just conveniently 'ignore' it??

No reply...

I also asked WHY?!? --would China be boosting up the Euro & Euro-Union???

No reply...

And I can't help but wonder if you've bought it all, "hook, line, and sinker" and are now sitting on a boat-load of gold short-stock, waiting and hoping for it to crash...

Or, as you like to say: "Think about it"...
:)

Paula said...

Money As Debt

As stated before, a silver dime bought a gallon of gas before, and it still buys a gallon of gas now. Precious metals don't inflate or deflate. If you have physical possession of them, rather than paper that says you own them but somebody else actually has them, you can't be robbed from a distance either.

Anonymous said...

Good Morning Stephen~

You know I love you and I think I have been quite tolerable to most you have thrown my way. I do appreciate your watching but this seems to be the only watch of importance to you.

The question I have is in what your saying daily. It is the same statement almost like a blanket statement that can cover from here to kingdom come, that can ensure one day it will happen and you were right. Unlike the site that has scriptural references and something wordly happens daily to tie it in with the purpose of going home to be with our heavenly father.

The part I am miffed about which has taken me to this point is someone running around getting people to sell their stocks thus causing panic and a crash due to sell off due to panic...when if your saved in Christ you should not be here anyway as he supplies all our needs. Fear is of the devil, period. Who are you doing this for is my main question? Are you possibly a broker or do you plan on being here mid trib?

Dear brother, I am just confused..is this the only purpose that is driven on your heart? How does that serve the Lord? Again, I love you but you could cause a panic or concern with this same speech to a newcomer who is sitting on a limited amount of financial resources. Forgive me, but that is where my concern is coming from.

Have a blessed day!!

GG

Expected Imminently said...

Hello DrNofog

Watched the video - I must say that of all the things I could say against the NWO - the very last thing I would want to tell them was to 'go forth and multiply'.

They don't need any encouragement!

:\