When looking at what is going on at this point, this probably sounds like a bizarre question. It seems more opportune to wonder how the Euro managed to survive this long.
Clearly the imbalances between Germany and its satellites (the Netherlands, Denmark, Austria) and the rest of Europe are not sustainable. The South imports tens of billions per year more than it exports to the North. It needs to be able to devalue it’s currencies on a regular basis to keep the capital outflow under control.
The bailouts of Greece and the other nations is nothing more than a repair of these imbalances. Not to mention the fact that it is not Greece, but Deutsche Bank and Société Général that are being bailed out, at the cost of the Greeks.
Also, the major deficits and debts the Southern nations suffer from are destabilizing and it is this weakness that allows Wall Street and Hedge Funds to have their speculative go at the Euro.
So why put forward this question?
Because the Euro is not an economic project. The Euro is a direct result of the last World War, which, as we now know, was created to destroy the European Nation states and build World Government.
The Euro cannot fail, because if it does, it will be clear to all that World Currency is impossible, not practical and simply not in the interest of by far the larger part of the World’s populace.
The simple fact of the matter is, that if the Euro fails, the Globalists will have suffered their greatest defeat in recorded history.
We should not forget that the Eurocrats are not stupid. We like to think they are, because the alternative is to think they are really nasty people, and good people don’t like to think these thoughts of others.
However, the Eurocrats are not stupid and at the time of the implementation of the Euro many mainstream economists warned of the risks of monetary union without fiscal union.
So this ‘crisis’ was an ‘accident’ waiting to happen.
The Eurocrats calculated, that since further federalization and fiscal union were politically out of reach at the time of the Maastricht Treaty, they’d settle for the Euro, wait for a crisis like this to happen and get their fiscal union after all as the solution.
Pretty much a standard M.O. by our masters.
So what can we expect for the near and mid term?
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For the time being the crisis will continue. The deficits are real, the debts are real (as long as we don’t repudiate them), the utter disgust in the North for having to destroy their own credit for the sake of the South is real, even though unmerited, considering the economic realities within the Eurozone as discussed.
Both Merkel and Barroso seem to be moving in the direction of closer ‘cooperation’. They are now infighting about the question whether Berlin or Brussels will be in control of this ‘cooperation’. In this fight Germany has the better papers, they do most of the paying, after all. But Merkel is just another Globalist stooge, so her job is not to create a Fourth Reich, but to betray the Germans for Brussels.
What seems likely is that in the months ahead, in a messy process, the Eurocrats will be able to foist some kind of fiscal union on Europe.
The PIIGS (or better: the banks that were brought down by the PIIGS) will be saved and allowed to continue within the euro. Perhaps a few countries will be forced, or allowed, out. But this too would be dangerous for them. For if Greece leaves the Euro, it seems unlikely that countries like Rumania, Bulgaria etc. could be plausibly allowed in.
Once this process is more or less completed, the attack dogs from Wall Street will be called off. After all: they are just another branch of the same Hidden Hand orchestrating these events. The Euro will more or less stabilize and things will return back to normal for a while. Or so it would seem.
Because all this has been very damaging to the Eurocrats. The political fall out is worse than they could have imagined. There is absolutely no popular support for fiscal union. It is probably possible to ram it down the throats of the Europeans for the time being, but the Eurocrat’s legitimacy would be badly damaged.
We should not forget that in 2005 The Netherlands and France gave Brussels a sound spanking, voting 60-40 against further integration and the ‘Constitution’ that the EU put forward. Of course, the referendums were ignored and the Lisbon Treaty was created to push ahead anyway.
But this was a watershed. For the first time it was made clear that there was a limit to European Cooperation, as far as the peoples of Europe were concerned.
To the Eurocrats and the Globalists this is a major problem. They need to mind control us into loving our own slavery. Otherwise we might get fed up with them. They know this. That’s why they love the ‘democratic’ process, despite it’s tediousness. It allows them to say: ‘You wanted this, right? You voted for it’.
Since 2005 they can no longer use this line. This is a very profound trend. A trend they are ignoring at their own peril.
Further fiscal union against the wishes of most people in Europe, both in the North and the South, will be a pyrrhic victory.
Perhaps they calculate that in the coming World War all these old scores will be settled their way, I don’t know.
Another option would be to allow the Euro to go, foment a new war in Europe and then say: ‘see, this is what happens, now give us Euro 2’.
Of course, guessing at the intentions of the Eurocrats and Globalists is really very difficult. We know about their main plans, but in real time, their schemes are still perplexing. Kremlin Watchers had it easy.
Perhaps the Euro is dead tomorrow and all this is history. But I do feel the above points merit further consideration by the free media.
Anthony Migchels is an Interest-Free Currency activist and founder of the Gelre, the first Regional Currency in the Netherlands. You can read all of his articles on his blog Real Currencies.