Saturday, July 10, 2010

Why the Euro should break up.

In an item in this morning's Daily Telegraph the head of the huge bank HSBC, who has tellingly left the EU to live in Hong Kong, Michael Geoghegan, is quoted as asking the following "Why should the Euro break-up, it was created to form a common trading platform across Europe," The journalist writing the report one Harry Wilson, described as Financial Services Correspondent and therefore, we must presume the newspaper itself, chooses to precede this quoted question with the following paragraph: "One striking point of optimism in his speech was his belief that the Euro would survive and that break-up of the currency pact was unlikely as it was still useful for its members." There is little doubt that for the head of a large international banking group that is part of a conspiracy that has brought the economy of the West to its knees and is now living in comfortable tax exile in Hong Kong there is little doubt that the euro currency is still seen as useful. To the ordinary citizens of Europe, however, who can daily now witness the fact that the euro currency was created for no other purpose than to consolidate the destruction of their democratic rights to periodically change their rulers without bloodshed, the "democracy" cited as the opposite of tyranny as defined by Karl Popper, the continuation of the euro is the one step that will guarantee that the Continent of Europe will be almost certainly doomed to return to the darkest days of the nineteen thirties. In this context, is it not incredible that a newspaper such as the Daily Telegraph can describe as a "striking note of optimism" the very notion of survival for the currency which the Nation State which is home to the Telegraph group has always shunned for reasons of Sovereignty and the absence of democratic legitimacy and accountability. International Bankers may well welcome a centrally controlled EU with a cowed and subservient population of some 350 million to exploit, none of whom will have any say as to how they are governed nor right to elect their leaders. Survival of the euro currency now clearly makes such an outcome an imperative for the EU, as argued by President Sarkozy of France and the three EU Presidents in justifying the necessity for "Economic Government". Without "Total" therefore "totalitarian" control of all the 27 economies of the member states (the Lisbon Treaty requires that all must eventually join the euro) the disparity between the countries inevitably suggests that the common currency will fall apart. Therefore to survive, totalitarianism is required, ( e.g. we must all have the same retirement age, working hours, wage rates, health rights etc., as decreed from Brussels) that is what is meant by "Economic Government"and any suggestion otherwise is a confidence trick, very much in line with the manner in which the EU has 'advanced?' up to this point. I would have hoped that a newspaper based in Britain, the nation that 70 years ago stood alone during the Battle of Britain to fight the dictatorships of Hitler and Mussolini, would have today been capable of recognising a putative tyranny approaching its adolescence. Imagine the controls necessary to achieve the euro's survival and weigh them against the well known consequences of the short term pains of sovereign default. Only bankers with huge sums at stake could possibly choose the former. Wake up Telegraph readers, I only regret that I am blacklisted from comments to that newspaper for earlier remarks, such that this plea cannot be made as a comment to the online article itself! (Later update - I have made an intended positive suggestion as to how the Coalition Government in the UK could proceed on helping to resolve this crucially important issue on another blog, linked here.)



Blogger 茂慧茂慧 said...


2:15 AM  

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