Brexit is a revolt against a German-run European super-state

In response to cataclysmic shocks of the Great Recession, Merkel set out to teach a lesson to euro area “fiscal miscreants” and those unable to control their banks (Spain). To those calling for some European solidarity, Merkel retorted that it’s everybody for themselves, with Germany continuing to live off its trade surpluses with the euro area partners while pursuing a “black zero” budget balance. He told Merkel that trade free-riding on the U.S. was over, and so was Washington’s total underwri


In response to cataclysmic shocks of the Great Recession, Merkel set out to teach a lesson to euro area “fiscal miscreants” and those unable to control their banks (Spain). To those calling for some European solidarity, Merkel retorted that it’s everybody for themselves, with Germany continuing to live off its trade surpluses with the euro area partners while pursuing a “black zero” budget balance. He told Merkel that trade free-riding on the U.S. was over, and so was Washington’s total underwri
Brexit is a revolt against a German-run European super-state Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-04  Authors: dr michael ivanovitch, stefan rousseau, wpa pool, getty images
Keywords: news, cnbc, companies, german, superstate, area, solidarity, brexit, germany, revolt, fiscal, eu, germanrun, euro, european, merkel, live


Brexit is a revolt against a German-run European super-state

Although the form of the British exit from the EU is often presented as a reductionist binary choice — “a no-deal exit” or “a deal the U.K. and the EU can live with” — London has in effect restated the fundamental question of what is a European project: A Europe of sovereign nation states, or a federal European super-state.

The disastrous fiscal austerity policies imposed by German Chancellor Angela Merkel on sinking euro area economies at the beginning of this decade, and her subsequent disorderly open-door immigration waves in 2015 have been a catalyst and a detonator of strong centrifugal forces throughout the European Union.

In response to cataclysmic shocks of the Great Recession, Merkel set out to teach a lesson to euro area “fiscal miscreants” and those unable to control their banks (Spain). In the process, she rebuffed American President Barack Obama’s request to ease up on her devastating fiscal austerity, because Washington was rightly concerned that a deep and intractable European recession would hit hard one-fifth of American exports.

To those calling for some European solidarity, Merkel retorted that it’s everybody for themselves, with Germany continuing to live off its trade surpluses with the euro area partners while pursuing a “black zero” budget balance.

Presidential candidate and later President Donald Trump understood all that. He told Merkel that trade free-riding on the U.S. was over, and so was Washington’s total underwriting of German security. Apparently shocked by the lack of American solidarity (stupidity), Merkel’s response was that “Europeans truly have to take our fate into our own hands.” In other words, never mind, Germany will continue to bilk Europe.

That, however, was too late for Merkel and Germany. Her policies have led to the extreme-right xenophobic Alternative for Germany (AfD) shooting up from zero votes in 2013 to the country’s third-largest political party now.

And that was also an eye opener for some smarter Europeans. When the Hungarians saw that Merkel was going to direct refugees their way, Budapest said it didn’t want Berlin to decide who was going to live in Hungary.

Berlin and a Berlin-run European Commission were outraged at that lack of Hungary’s European solidarity. Worse, an arrogant German EU budget commissioner publicly threatened that he would cut off regional development funds to which Hungary was entitled.


Company: cnbc, Activity: cnbc, Date: 2019-02-04  Authors: dr michael ivanovitch, stefan rousseau, wpa pool, getty images
Keywords: news, cnbc, companies, german, superstate, area, solidarity, brexit, germany, revolt, fiscal, eu, germanrun, euro, european, merkel, live


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Leave a Reply

Your email address will not be published. Required fields are marked *