EU commission to outline plans for political union

[James1:12]

http://euobserver.com/19/116336

The European Commission has said it will soon bring forward plans for an economic and political union it says is necessary for the creation of debt-mutualising eurobonds - one of the most controversial proposed solutions to the current eurozone crisis

[burien1]

[Tevye]

It seems like the Europa is as a person sinking in quicksand
the harder they try, the more they are pulled into the trap.

[Jericho]

It seems like the Europa is as a person sinking in quicksand
the harder they try, the more they are pulled into the trap.

Perfect conditions for the AC. In Nazi Germany it was the same way, the dire economic situation led to the rise of Hitler.

[James1:12]

http://euobserver.com/19/116362

Van Rompuy to draft plan for deeper economic union

EU leaders have tasked council chief Herman Van Rompuy with drafting a plan on deepening the eurozone's economic union, potentially via an inter-governmental treaty.

Here it comes.............

[Ready1]

...and maybe not all will go along with the plan so the EU numbers may change and we just need to pare the following down to seven instead of ten years...

In recent weeks, European Central Bank chief Mario Draghi has called for a 10-year plan on how to achieve closer fiscal and political union in the eurozone. Economics commissioner Olli Rehn has also indicated he will table ideas in this direction.

[James1:12]

I think they will propose plans and talk about long term fixes but then whene the crisis continues to bite and the national leaders are ready they will role out the plan in a much shorter time frame.

This following quote from the Telegraph reminds me of the beast trampling down the remainder:

09.55 Spain isn't keen on a full bailout, as seen by Greece, Portugal and Ireland, instead calling for direct recapitalisation of its struggling banks by the eurozone bailout fund, the EFSF. In any case, it argues, it's too big to bailout directly.

There's a strong editorial by Ignacio Camacho on Spain's ABC which shows exactly how the troika inspectors and austerity measures which come part and parcel with European bailouts are seen:

They call it a rescue, but in reality it is a kidnapping; they take over the sovereignty of the nation concerned and wire it up to shock treatment, until the now-happy patient relaxes a little. They are the Men in Black, the flying emissaries from the dreaded EU troika, the commissioners that Merkel sends to impose her airtight budgetary discipline. It’s a pitiless brigade whose presence always sparks panic in governments when things start to go the way they are going in Spain.

Starting with pensions and unemployment benefits, they move on to taxes and civil service salaries and end up selling off all the assets that can be bought. When they finish, they leave the economy burned to the ground and politics mowed down to stubble, and depart arm-in-arm with the patient brushing the dust off their shoes. They may be able to clean up a nation that has sunk, but if there is any possibility of recovery they will leave it buried it under the rubble.

[James1:12]

Worth a read:

http://www.dailymail.co.uk/news/article ... ds-newsxml

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.
Senior Tory MPs are to press David Cameron to hold a referendum on Britain’s future in Europe if the moves go ahead.

Germany wants this to go until March 2013 and then put a plan for fiscal union in place, ridiculously unlikely with Spain going belly up as we speak.

[James1:12]

The MAFF mentioned below is the successor to our currently running 7 year "covenant" - the financial framework that Europe's political world hangs on.

12.18 Herman Van Rompuy, President of the European Council, has been tweeting following a visit to Slovakia:

We'll continue to pursue our comprehensive strategy to growth and job creation. European Council will focus on growth agenda in all its forms. The June Council will discuss the Multi-annual Financial Framework. Our goal is to conclude this by the end of the year. There was general consensus that we need to further strengthen economic union and make it commensurate with monetary union.

I am preparing a report in close collaboration with the Presidents of Commission, Eurogroup and ECB. I will propose the main building blocks on more banking, fiscal & economic integration to reach that objective. On the banking side, the report will cover issues such as more integrated banking supervision and resolution, as well as a common deposit insurance scheme.

[James1:12]

http://euobserver.com/19/116765

EU hopes for 'big leap' with fiscal, political union plan

EU officials have drawn up a far-reaching plan that would eventually turn the eurozone into an outright fiscal union, but acceptance by EU leaders - whose powers it reduces - will require a major leap of political faith.

This weekend the big EU summit begins discussing the full Union and measures to fix the economic crisis.
I have the usual sense that this will simply be just talking about talking but we are getting closer to that final handing over of power to 10 nations or 1 man. Some more interesting things will be reported but I don't think this is quite the time.

I am very interested in the meeting of the "Future Group of Europe" which will take place next month. I'm not counting out the WEU yet but the silence has been going on for a long time. The ENPI side of things continues with this new group as they have committed to the new ENI and are pursuing the goals of Javier Solana whilst he was in power including some linked very closely with Rec 666.

Stay Tuned....

[James1:12]

http://euobserver.com/1016/116980

EU president should be elected: Juncker
Today @ 09:21

By EUOBSERVER
.Eurogroup chief Jean-Claude Juncker said the post of EU president should be directly elected by citizens. "I would be in favor of creating the position of a European president at the end of the process who would be directly elected by the citizens of the EU," Juncker told Der Spiegel.
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