A speech was made by ECB Chief Mario Draghi to Committees of the French Parliament, its National Assembly, yesterday morning in Paris. It is linked from here
and at its end included the following startling passage:
But Banking Union is not the only example of where closer union is
needed. Ultimately, the euro area needs to be drawing closer in all
fields of economic policy.
The recent call from the leaders of France and Germany for closer
economic union shows that this message is being understood. But it is
important that form is fully aligned with substance. In my view, a true
economic union means three things.
First, it means every country ensuring its national economy functions
properly, without external imbalances and high unemployment. We cannot
have a strong economic union without strong national economies.
Second, it means transferring some sovereignty over decision-making
to the European level – accepting decisions that are made for the good
of the euro area as a whole, even if, at that moment in time, individual
countries may disagree with them.
Third, it means applying the same rules to all members of monetary
union. This is not only a condition of fairness between countries, but
also a pre-condition for deeper integration. Only if there is trust that
each member will play by the rules can a union of mutual solidarity
For these reasons, moving towards closer economic union also requires
an equivalent deepening of political union. Greater authority at the
European level must be matched by greater democratic legitimacy. And
here both the European Parliament and national parliaments have a key
role to play.
As Herman van Rompuy has reminded us, national parliaments have become EU institutions.
I had missed that earlier quote from Van Rompuy, but no matter, such coming from the head of the power hungry EU Council has come to be expected, from Draghi, delivered to the second most important Parliament within the EU, however, it marks a major turning point.
The following description of Draghi, also posted yesterday morning by John Ward of The Slog
, is perhaps well worth reading and dwelling upon at this point, click here
The riciculousness and pettiness of what the House of Commons has become was well on display throughout yesterday, as may be read in Hansard! After the childish knockabout of PMQs, a statement on spending after
the next General Election and some points of order, the day was taken up by the EU project and complete waste of money, the HS2. Read here
if you have nothing better to do!
Any with a vote for the UK Parliament has now some serious thinking to do! Arguments that this is merely a Euro Group project will not wash any more!
Are we really going to allow our democracy to be handed over to the likes of these people without complaint or resistance?
Labels: Democray, EU, EU tyranny, House of Commons, Westminster