Is the EU's doomsday moment at hand?

Ambrose Evans-Pritchard of the Daily Telegraph, ever one of the more insightful reporters on the over-bloated EU, has a typically pithy piece this morning linked here, titled:

EU refuses bail-out package despite crisis fears

It was always likely to be the Euro experiment that killed off the undemocratic bureaucratic nightmare that the ever closer union project has steadily become. The death of the EU which might well follow the Euro's demise would be traumatic for Europeans, but the next few days now seem worrying indeed with the stupidity and arrogance of the EU's leaders now likely to bring the world financial system to its knees with widespread disorder and chaos the only likely result. The key to the present problem in my view and mentioned in the linked article, is the fact that the ECB has lent huge sums to its own banks on the basis of bad debt insurance policies from the bankrupt AIG and therefore effectively covered by the US taxpayer. (As I blogged a week ago, here). Refusal by the EU to match the US taxpayers vulnerabilities and the backlash will be immense. Surely it is akin to a declaration of economic warfare? It could be done but after a period of economic slump and high levels of personal distress and protest, suspension of the convertibility of the Euro can be the only likely end result. The EU will then become a siege economy with no freedom of movement for either capital and eventually nor even people beyond its tyrannical borders - the rouble under the USSR should surely be example enough to steer us from that course. The fact that today the EU Parliament, already having re-introduced the EU anthem and the EU flag in spite of the desires of the national framers of the Lisbon Treaty, will today propose controls upon the internet, gives enough clues of the preferred way ahead for those presently at the trough. Ominous signals indeed.