Tuesday, 16 February 2010

Greece will be the EU's excuse for economic and political union

Information Clearing House has an interesting article on the demise of the EU as a consequence of the Greek debt crisis.

However, it's a mistake to underestimate the EU. Not because the EU is wise, but because it is ambitious.  

The aim of the EU has always been to effect an economic and political union. This crisis has just demonstrated that a monetary union is not possible without economic and political union. So, where the sane person might say that monetary union has been a failure and should be abandoned, the EU mind will use it as an excuse to push for political union.

I.e., it is the solution to the problem they created - a 'solution' they wanted all along.

I hope I'm wrong, but time will tell.