Thursday, October 28, 2010

Germany's ivory tower

It seems that Germany is drifting apart from the rest of EU.

Highly privileged in the euro currency system (that essentially means the adoption of the former Deutsche mark by all other members), Germany now calls for a greater neocolonialism inside EU: chancellor Merkel proposed yesterday that countries unable to meet the draconian budgetary constraints imposed by the Eurozone system are denied the right of vote. For that she demanded that the Treaty of Lisbon (already implemented against the will or the people) is reformed.

This is a no-no, it seems, as even the EC president Joao Barroso, has said it is unacceptable.

Another German proposal is to create a mechanism for the orderly bankruptcy of a member state, mechanism that would be participated not just by the states but also by the private banks.

In my opinion, it would be a lot simpler to put the European Central Bank (and the Commission) under direct supervision from the European Parliament. This would allow for careful manipulation of the common currency in accordance not just to the selfish colonialist needs of Germany but of the 25 members.

A clear conflict of interests exists between the German desire for a strong euro and the general EU need of a weaker currency, able to compete with China and the USA. This should be solved in favor of the majority needs of EU citizens and not just of German corporations. I don't see why German "needs" are more important than, say, Greek ones.

Source: Gara[es]

No comments:

Post a Comment

Please, be reasonably respectful when making comments. I do not tolerate in particular sexism, racism nor homophobia. The author reserves the right to delete any abusive comment.

Comment moderation before publishing is... ON