The title of this book sums up the Federal Union’s path to destruction as Two-Speed Europe sees the smug 26 take the fast track to disaster
Has Britain missed the sailing of the Euro Titanic but exercising the British veto last week?
Last week, the Franco German demands for a total and unconditional surrender of Great Britain led to British Prime Minister Cameron exercising the British veto with the overwhelming support of the British people.
British anger increased further at the spectacle of the Clown of Brussels, Herman van Rumpy Pumpy, egging on MEPs in verbal attacks on Britain in the European Parliament.
Britain is now fully justified in responding to demands for money – “FU!”
As a responsible Government, safeguarding British taxes, the Cameron Government is fully justified, and moraly compelled, to halt the transfer of all funds to the EU until a new EU free trade agreement can be negotiated.
As things stand today, there is a massive demand for a referendum on British EU Membership by more than 80% of those polled. The percentage supporting outright withdrawal has also increased strongly.
The wisdom of the British action last week has been vindicated by unfolding events this week.
Many of the 26 EU members who voted to join a German led FU are now admitting that they will not be able to win endorsement from their own Parliaments and some may be forced to hold a referendum on submission to the Forth Reich. This suggests that ratification of the Treaty to form the FU will not be completed by late March 2012 and may follow the path of the EU Constitution/Treaty of Lisbon and take years to negotiate.
However long the FU Formation Treaty takes to conclude, and however few EU Members finally agree, the plans are looking even more irrelevant this week than they did last week. What the financial markets needed was clear evidence that the EuroZone had a clear and credible plan for a short term solution to the current debt disaster. A power grab by France and Germany was not that necessary plan. As a result, the markets reacted with some anger and deep concern.
The Franco German hope was that the power grab would help them force the IMF to make further illegal payments to bail out the EuroZone as it drowns in debt. That will not now happen. One reason is that Germany is among the IMF members refusing to prop up EuroZone countries and the German attitude to Europe is laid bare. Reich Kanzler Merkel is determined that Germany will not make a pfennig available to help fellow EuroZone members and is also not prepared to accept any increased funding of the IMF. This increases the probability that 24 EU countries will have their credit ratings downgraded. The other two countries that supported the formation of the FU last week, Greece and Cyprus, will not see any further downgrade of their credit ratings because they are now considered beyond even the lowest credit rating and most likely to default on their debts.
25 EU Members now face a curious situation. They may all be forced to re-adopt their own national currencies as the Euro fails, but they have voted to allow Germany to set their future budgets
The prospect of widespread civil disorder across the FU has increased significantly.