Note the bolded quotes below:
Longtime austerity advocate and German Chancellor Angela Merkel says that she will consider France’s proposed “collective debt” solution — but only if the rest of the EU agrees to her ambitious demands.“After falling short with her ‘fiscal compact’ on budget discipline, German Chancellor Angela Merkel is pressing for much more ambitious measures, including a central authority to manage euro area finances, and major new powers for the European Commission, European Parliament and European Court of Justice,” Reuters reports.“Until states agree to these steps and the unprecedented loss of sovereignty they involve, the officials say Berlin will refuse to consider other initiatives like…a ‘banking union’ with cross-border deposit guarantees,” Reuters report.European leaders are to hold a summit on June 28 on how to stop the 17-country eurozone from collapse, the AP reports. The European Commission and the ECB will likely discuss measures for creating a “banking union” that would oversee banks and “possibly offer bailouts directly, bypassing national governments.”
European leaders are edging closer to a federal union in response to the financial crisis engulfing the Continent.In crisis talks yesterday, Britain and the US joined forces to urge Germany to create a central Brussels body that could assume sovereignty over individual countries’ budgets and fiscal policies.Four EU leaders have been asked to draft proposals for a deeper eurozone fiscal union, to be presented to an EU summit at the end of this month.They fear a core eurozone, led by Germany, would be in a powerful position to push whatever policies it wanted affecting the rest of the 27-member EU.Up to ten chairmen of Commons select committees are understood to be preparing to call for a popular vote on Britain’s future place in the EU if a fiscal union goes ahead.
As mentioned earlier this week, it truly is amazing how casually a world governance is is now discussed in the media:
National sovereignty is under threat with the United Nations and its gun rules, the Law of the Sea Treaty and its worldwide taxes, Agenda 21, the Bilderbergers and the increasing strength of other global authorities.What would America be like to be under a global government? What about human rights, and would the U.S. be demonized to set an example? Who sets standards for the environment, finance and education, and who can be delegated to make decisions? And does the concept of a nation-state still exist and still matter?Those issue will be on the agenda at the American Freedom Alliance’s invitation-only Global Governance vs. National Sovereignty conference.