It's clear that the EU or member states cannot take the necessary measures to stem the crisis - they are sleepwalking into Euro meltdown where the consequences will be massive but are largely unpredictable.
I should be magnanimous in these times, but I'm afraid I can't be. I don't for one minute enjoy the consequences of the chaos on the impact on jobs and the economy but what is amusing is the ever desperate rhetoric from those that have always supported the Euro - Nick Clegg (my emphasis):
It means absolutely nothing to millions of people across the EU who are worried about economic security. They are worried about prospects for their children. The only people who will benefit will be populists, chauvinists and demagogues, who will exploit that lack of political leadership."Oh here we go - more labels, more insults. This is why, after decades of abuse for trying to argue against a flawed system of government and currency thus being inundated with abuse I have little sympathy. The battle against the EU has largely been a lonely and hostile one - those in favour refusing to engage in debate but instead chuck insults about like cheap confetti at a wedding.
So it is with some amusement that I read this post from the Europhile blog EU Weekly:
It reads like a perestroika advocate within the Soviet Union - believing that the system is fine; it just needs a little retuning.
I am mad and disappointed.
I am mad at an half finished euro, which has been created without any sort of exit close in the treaty – Not that I ever wish for such a close to be used, just that it is a good sign of a well thought project to have an end-point ready, just in case.
I am mad at an over-optimistic eurozone that accepted Greece despite its lag in matching the growth and stability criteria and continued to ignore the obvious reality as long as things were looking OK and the illusion could be held.
I am mad because the euro is not just a great project or a nice dream. It has become a reality, it has been built upon and brought successful growth and integration among the european states. The euro add solid results and consequences making it impossible to be dismantled or even weaken. It has to be saved, rebuild, made stronger… there is no other options.
That’s why more than anything I am mad and disappointed at the European leaders who fail again and again to tackle the problem and do what is needed to make the euro as strong as it is supposed to be. Every major actor of the financial world agrees to say that the best option is to go forward into a federalist union with eurobonds as the core of the public debt for member states, but all that Merkozy et al. are doing is finding workarounds to the issue, half-fixing the problem for a few months.
No. The EU is flawed, it's conception was flawed, the Euro is flawed, everything about it is flawed. In years to come, when the EU and the Euro has collapsed, historians will wonder with bemusement how earth did we fall for this trick for so long?