Spain is now so financially desperate it seems ready to conced any amount of sovereignty top save itself. A report from India
on yesterday's dangerous developments is linked here, from which comes the following confirmation of the EU Commissions willingness to extend their arbitrary and non-democratically restricted powers!
A spokesman for Olli Rehn, the EU commissioner in charge of economic and monetary affairs, said draft legislation designed to step up financial discipline in the euro zone, would create such a fiscal authority by granting new powers to the EU's executive.
"This would grant enhanced powers to the European Commision on fiscal surveillance, including allowing the sanctioning of countries," said Amadeu Altafaj.
"Even before a budget is drafted and reaches the national parliament, the Commission could ask for a revision of the budgetary plans if it considers this would not allow a country to meet its fiscal commitments, and thereby could endanger financial stability."
Labels: Now Spain, Olli Rehn