European Cracks

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When Trump pulls out of Europe and forms an alliance or seeks an arrangement with the only Euro-Asian power to be taken seriously, Russia, we may well see a new development in Europe. Having to look after herself, Europe will soon prove, as she has under the EMU, a collection of self-regarding countries. I fear Germany might discover its old penchant for military strength.

Some say the economically strong members of the EMU should form a reduced Euroland — a land, meaning a country with a central government. Does anyone seriously believe, say, the Dutch would agree to such a Greater Germany?

European solidarity erupted in a full scale Ideological Civil War in Davos today as Dutch prime minister Mark Rutte called the EU’s dreams a “dangerous romantic fantasy”.

“The whole idea of an ever-closer Europe has gone, it’s buried,” said Dutch premier Mark Rutte, dismissing calls for full political union as a dangerous romantic fantasy.

“The fastest way to dismantle the EU is to continue talking about a step-by-step move towards some sort of superstate,” he said at the World Economic Forum.

Some are beginning to see through the fundamental problems:

Emma Marcegaglia, head of the pan-EU federation BusinessEurope, told the Telegraph that it sticks in the craw to hear some countries talk about EU rules. Germany has been running a chronic current account surplus of 9pc of GDP in open breach of the EU’s ‘macro-imbalances’ edict, damaging to the cohesion of monetary union. Nothing is ever done.

Why isn’t Germany being punished? We can’t go on like this, it’s not sustainable. Some people say Germany should leave the euro,” she said.

The source.

See here.