Saturday, June 25, 2016

Why the European Union Was and Is Doomed

The idea of a single currency and a free trade zone are both great ideas and make sense for Europe.  But the implementation of both the European Union and its smaller subset - the Eurozone - were doomed to failure from the beginning.

From the very beginning, the EU violated its own rules by letting countries join without satisfying the rules for entrance -- especially the fiscal rules that were required before entrance.  Then, later, when countries openly flouted these rules, the EU looked the other way. "Rules don't matter" became the watchword for the EU from the start and continue to this day.

Second, the Greek bailout was an unnecessary disaster brought on by the hubris of Angela Merkel and Nicholas Sarkozy.

Greece should have been permitted to default on its sovereign debt -- in whole or in part.  That way, no other member state of the European Union would have been on the hook.  The euro would have survived intact.  The losers would have been the folks stupid enough to purchase Greek debt.  Those folks deserved to lose and should have paid the piper for their bad due diligence.  Greece, by now, would have a thriving economy and could have easily returned to the international debt market (think Argentina, who has defaulted twice on its sovereign debt in the last two decades).

Third, the Brussels bureaucracy, unelected by anyone, is dominated by far leftist bureacrats who tried to spread nanny-state rules throughout Europe.  For example, a child under the age of eight is forbidden by law (by Brussels rulemakers) to blow up a balloon.  Such activity is now a crime in the European Union. That kind of absurdity is typical of the elitist rule-makers in Brussels.  Who wants to live under that?

Fourth, the straw that broke the camel's back was the mandated migration of Middle East and African refugees into EU member states against the will of the ordinary citizens living in those member states.  The problem with these immigrants is not their race or ethnicity.

The problem is that every poll taken among these particular immigrant populations shows that more than 90 percent of these immigrants hate and despise westerners and their culture.  What are the chances of assimilation of this crowd?   Who wants hundreds of thousands of new neighbors requiring massive financial assistance and government services, whose main emotion is hatred of you, your country and your culture?

Had the EU consistently followed its own rules, instituted democratic rule as opposed to the oppressive Brussels un-elected bureaucracy, not underwritten the absurd fiscal practices of the Greeks, and not brought sworn enemies into the neighborhoods of ordinary folk, then maybe the EU could have survived.

Instead, wealthy elitists followed the Obama-Clinton-Merkel-Sarkozy-Hollande game plan of forcing ordinary folks to endure elitists dictates.  After all Obama, Clinton, Merkel, Sarkozy, Hollande will never, ever have to deal with the kinds of problems that they seem hell bent on imposing on ordinary folks.

Meanwhile, the wealthy elitists and bureaucrats are now publicly bemoaning their losses in the Brexit vote, as well they should.  Ordinary Brits woke up and rejected the arbitrary tyranny of Brussels and the rule of unelected elitists, bent on destroying their day-to-day existence.  The Brits were right to vote for their own freedom to decide their own destiny by themselves and throw off the yoke of the Obama-Merkel-Hollande crowd.

Look for other countries to follow suit.

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