Can non-Euro Group members permit Von Rompuy's dual Presidency?

The expected acclaim to the nonsense presented by Merkel and Sarkozy yesterday has arrived from the EU Commission, read here.

The final paragraph of that press release is extremely significant, it reads as follows:

We look forward to working with the president of the European Council and the president of the Eurogroup to take forward this debate and to formulate proposals in the coming weeks.

The question posed in the headline of this post is not the most important that comes to mind, for it can be simply answered by a rapid "No!" Von Rompuy, from both his background and present job performance , has proven himself incapable of fulfilling even the role of the Presidency of the Council, look at the shambles it is in on this sunny mid-week summer's day!

Should any individual be expected to fill two such totally contradictory jobs? Clearly the answer to that is also a definitive and emphatic NO!

The fact that the leaders of France and Germany believe such a possibilty should be taken seriously, speaks volumes!

Italy facing dismemberment after ECB tax hikes - Tremonti at risk!

The unelected and increasingly ludicrous President of the EU Council, Herman Von Rompuy, issued a press statement on the Italian revised austerity programme this evening, as follows:

"I spoke to the Italian Prime Minister, Silvio Berlusconi today following the adoption of the financial package in Italy yesterday. I fully support and welcome the timely and rigorous financial measures. I underlined that these approved measures are crucially important not only for Italy but for the Eurozone as a whole."

Reuters analyses the increasingly impossible plight of the Italian Finance Minister, Giulio Tremonti, in a report, linked here. A taste of the critique:

The latest package is already being criticized by economists.

Tito Boeri, economics professor at Milan's Bocconi University, said he was "very disappointed" by the plan and was concerned that markets would take a similar view.

"There are no structural spending cuts, nothing in the near term on pensions, no reforms that can help the economy, and instead we have a series of tax hikes that will have exactly the opposite effect," he said.

In news conferences and parliamentary appearances in the last few days, a crestfallen Tremonti made no attempt to disguise the extent to which policy was now being dictated by the ECB.

Make no mistake about what has been underway during the past few days. The democracy of a large European Nation, has been removed and the people rendered powerless. The Italian Parliament has sixty days to pass this package into law. The Italian MPs now increasingly appear as the last defence between the people of Europe and tyrannical EU oppression, undertaken purely to save a common currency few now even want. I would have preferred sturdier gladiators myself, but Britain's Government has already surrendered, see my posing immediately below.

Is Von Rompuy's bemusement shifting attention to Belgium's bonds?

Von Rompuy's widely reported asinine comments on the latest developments surrounding the doomed euro currency are perhap focussing market attention on the nation that produced, and allowed to clamber to the top, such a clearly clueless individual. Reuters highlights the widening gap between Belgium (and indeed France) versus the real core EU country Germany, in a report just in and linked here. The following is the particular quote:

Ten-year Belgian and French spreads over Bunds hit fresh euro era highs at 209 bps and 81 bps respectively, in a sign that Italy's underperformance has raised fears the euro zone crisis could hit core economies as well.
"Equities everywhere seem to be under a lot of pressure. (Belgium) is probably the next weaker nation after Italy. It is not surprising to me that they are struggling," a trader said.

"Astonishing" and "ludicrous" Herman Von Rompuy

The EU leaders who fudged the appointment of a competent individual of personal authority to become the "appointed" head of the EU Council, were really repaid in full last evening, when Von Rompuy showed his almost complete financial ignorance and personal stupidity by launching into a transnational attack on the markets in the op-ed columns of various newspapers. A summary from the EU Observer is linked here. (Update see also Irish Independent here).

Selectively picking the few bright areas for hope in the Spanish and Italian economic mess as examples, he completely failed to address the main simple fact, spelt out here last evening, that with the list of countries already bailed out or on the verge of failing now approaching the same number as those expected to support them, with indebted France, for the moment, still being counted in the camp of such supporters, matters are clearly coming to a luicrous end for the Euro. That Von Rompuy, can quote the recent Euro Group outcome as a reason to halt the crisis simply beggars belief on its own!

Von Rompuy, himself, is suitable for standing alone as ample evidence, that even the EU itself, never mind the Euro, is not worthy of any further wealth destroying existence, power or authority within Europe.

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?