Tuesday, August 02, 2011

If Von Rompuy becomes Euro Zone President - Can the non-Euro 10 get shot of him?

Another example of how the EU is never content to stay within the already ratified EU Treaties, again raises its head today. This time EurActiv reports, that EU Council President Herman Von Rompuy, may take on the "undefined role" of Euro Zone President or even Euro Group Head of State!

No facility exists within the existing Treaties for either such positions, so would the remaining ten, non-eurozone ex-states have to continue to pay his salary as EU Council President, if so let's be rid of him NOW once and for all!

As I posted regarding the abuses of the EFSM, this time yesterday, the conflicts between the Euro and non-Euro members are all ready becoming severe enough as it is! Any individual would therefore find it impossible to remain independent and equitably fill both posts, never mind the lacklustre Von Rompuy.

As the list of bailout applicants slowly rises, Spain and Italy are now clearly also waiting in the wings, should the Euro Group not have a President for both the bailed-out and the dwindling band of "so-far-not yet bailed-outers"?  As Von Rompuy is a Belgian Citizen (should such continue to be anything other than a versyshort term entity,) and given the economic state of Belgium, which of two such roles should Rompuy most realistically fill?

Although, as far as I know at least as I type this, Cyprus has yet to officially hold out the begging bowl to the EFSF, although it must now be getting very close, as reported in the Vancouver Sun, read here there are  3 defaulters vs 14 non-defaulters as we count today.  After Austria, Belgium, Cyprus,  Italy and Spain, go for bailouts that would quickly become 8 vs 9, surely Finland would then pick up its ball and go home, leaving a potential stand-off?

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