Tuesday, June 5, 2012

EU: More Control, More Supervision

This was just too predictable. As we mentioned weeks ago, the EU, particularly the Eurozone would either break up or head towards more centralized control - and we are seeing more and more evidence of their moving towards the more control outcome:

The heads of four key European institutions are hammering out a "master plan" to lead the eurozone out of its crippling crisis, a German Sunday newspaper reported.

European Central Bank chief Mario Draghi, European Union president Herman Van Rompuy, EU Commission head Jose Manuel Barroso and Eurogroup chairman Jean-Claude Juncker were tasked last month with working up a reforms roadmap, Welt am Sonntag said.

The plan is to be presented at an EU summit in late June, the report said.

Under global pressure to put an end to the turmoil rocking financial markets and creating deep economic uncertainty, the leaders want to point the way toward a lasting solution, an unnamed high-ranking EU official told the newspaper.

The proposals being considered would include European institutions having more power over national budgets; a European supervisory body for the banking sector with new powers; harmonised fiscal, tax, foreign and security policies; and reform of social welfare programmes.

Barroso pleaded on Wednesday for a tighter eurozone union to avoid "financial disintegration," including "a banking union with integrated financial supervision and single deposit guarantee scheme."

German Chancellor Angela Merkel on Monday (4 June) said she supports more integration in the eurozone - a veiled reference to pooling debt provided EU institutions gain more supervisory powers.

"We need more Europe, not less, especially in the eurozone.

This means that EU institutions, the EU commission included, should be granted more possibilities to control.

Otherwise it would be impossible for a currency union to work," Merkel said alongside EU commission chief Jose Manuel Barroso who visited her in Berlin ahead of a 28-29 June summit.

"The world wants to know how we are picturing the political union matching the monetary union. An answer to this question has to be formulated in the near future and Germany will be a constructive dialogue partner in this regard," she said.

She endorsed the so-called banking union - particularly putting big banks under central EU supervision


Anonymous said...

Stocks are again getting bulled tonite. It does NOT really matter
what is done in the EU....if the end result is MORE BULLING, then the
END just gets delayed even longer.

sad to say BUT true.

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

hartdawg said...

I'm starting to wonder if the final 10 toed kingdom will be something completely unexpected. the common beliefs is that its either the EU, UN,or 10 global regions...I'm wondering if maybe its none of those but rather something noone will know til after the rapture and the EU, UN and all governments collapse.

Anonymous said...

Well, guess what i found??? And I MUST WARN you, be prepared with a STRONG
stomach before you read this....

"and I saw the souls of those who were beheaded for their faith in Jesus " (REVELATION)


Could this be the start of the fufillment of
that DREADED PROPHECY in the book
of Revelation ??

Something Wall Street bulls need to
SERIOUSLY consider regarding their
perpetual LOVE OF MONEY and disregard for the Bible and God.

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

Scott said...

Hart - funny you'd say that...I have been having those exact same thoughts lately.

Stephen - I've noticed that trend as well...Plus its always been a favorite among radical Islamists. Now seeing it Mexico and other places around the world. Interesting and germane observation - I agree.

BWest said...

Good morning everyone. Along the same lines as Hart's and Scott's comments above, how do you think the non-European portion of the Old Roman Empire comes into play with respect to the Revived Roman Empire and 10 Kings stage?

My understanding is at one point, the Roman Empire included portions of Egypt, Turkey, Iraq and other areas in the Middle East. Given the prevalence of Babylon in Daniel's 70th week, I wonder if the Revived Roman Empire and 10 Kings has as much to do with those areas as it does with the current EU. Thoughts?

God bless you all.

Anonymous said...

You have to look at the EU/MED UNION...i used to always make this point but have gotten lazy :)...the med union is an outgrowth of the EU....And most see this combination as the revived roman empire...i say "EU" these days as shorthand...,

BWest said...

Thanks Scott. I'll do some research into the Med. Union as I'm not too familiar yet.

Caver said...

And, if you overlay the EU / MU map on the old Roman Empire map at the time of Christ, its almost an identical match.


Anonymous said...

Absolutely Caver.the maps are almost identical.