This collapse of the EMU and possibly thus the EU itself was foreseen in 1999
This paper will not take a stand on whether the union will or will not collapse in Stage III or later. It will simply consider the technical mechanism whereby a crisis will be propagated through the financial system of the union, if a crisis does arise. The crisis may emerge as a straight banking crisis and not as an attack on the permanence of the EMU at all. It may reflect a disbelief in the permanence of the union; even if this belief is erroneous, it is worth examining how the funds will flow across borders and how the system will be defended. Finally, there may be a crisis that is preliminary to the collapse of the union itself.
As more and more millions of people across Europe suffer the consequences of the conspiracy that was deliberately engineered against them, to destroy both their democraccies and national sovereign independence, facts such as these must be increasingly circulated and brought out into the open, so that the culprits cannot pretend they acted in any interests other than for their own greed and lust for power!
Labels: EU collapse