EUROPEAN NEWS



FAILING

2015-07-01

According to "De Standaard - Belgium. It was an enormous mistake of the Eurozone to manoeuvre Greece into a situation in which it had to default on an IMF payment, the liberal daily De Standaard laments: "It is a shameful defeat for all involved leaders that a member of the Eurozone has been forced to default on its financial obligations. The euro is not merely a market instrument that obeys the laws of supply and demand. It is the concrete expression of the will of hundred of millions of Europeans to share a common destiny. The way in which this will has been played with in recent months has damaged the credibility of the entire European project. … It is an irreparable disgrace. Regardless of the referendum on Sunday and how the Greeks vote, Europe will have to live with this incredible mistake from now on." (01/07/2015) +++

 

The paper is absolutely right and U.S. President Obama urgently calls on the EU leader to use their senses. Let us just summarize the extent to which European leaders, the German ones in particular are failing in their responsibility to unify Europe on the basis of Schuman's effective solidarity.

1. No country can be expected to pay a debt exceeding 170% of GDP.

2. For the Eurozone, the Greek debt is perfectly managable.

3. Germany should be reminded of the early 1930's, how excessive debts enabled the coming to power of the Nazi party. Excessive austerity imposed from abroad breeds political extremism.

4. Greeks excessive debts are made possible by irresponsible creditors.

5. The fundamental weakness is the absence of adequate institutions to manage the common currency- one treasury and one minister of finance for the Eurozone: a weakness for which France, Germany and the other signatories to the Treaty on European Union in 1991 are responsible.

6. In the absence of a truly common monetary policy, power gravitates towards the strongest member state. It is a recipee to failure. European unification is seriously and possibly irreparably failing.

 


Download Document



Back
Frans A.M. Alting von Geusau

Email

  • Cultural Diplomacy: Waging war by other means?
  • Order Book
  • The Illusions of Détente,
  • Order Book
  • Western Cooperation
  • Order Book
  • Sporen van de Twintigste Eeuw
  • Order Book
  • European Unification into the twenty first Century...
  • Order Book
  • De geest van Christus leeft in Europa
  • Order Book
  • Neither Justice nor Order
  • Order Book

Neither Justice nor Order

Footprints of the 20th Century - Third Edition

Description

This fifth and final volume offers a critical assessment of the state of the law of nations. In the twenty first century the world needs true global law anchored in the dignity of the human person rather than weak international law built on the interests of major sovereign states.

European Unification into the Twenty First Century

Footprints of the 20th Century - Third Edition

Description

The story of European Unification is fascinating. In 1950, two sworn enemies – France and Germany – decide to seek reconciliation and European federal unity. As a first step, they created the European Coal and Steel Community together with Italy and the Benelux countries. The fathers of this new Europe were visionary persons. Does today`s student or scholar still know who Robert Schuman, Konrad Adenauer, Alcide de Gasperi or Willem Beyen were and what they stood for?