Exactly what was predicted here long ago as a potential outcome is now stated in this article: The EU will eventually break up into a two tier hiearchy. Also mentioned was the Mediterranean nations being a source of gas and oil to fuel and rebuild Europe’s economy, which is why Greece and Cyprus have been subjugated into EU vassal states and likely will remain on board any future EU integration — they’re too strategically important to lose. The United States of Europe is indeed coming.
The term “the Great Game” referred to the strategic rivalry between the British and Russian empires in Central Asia. Today’s Great Game is the battle for economic survival in a world of low economic growth. In such a world economic nationalism reasserts itself, reducing free trade in goods and services and free movement of capital. Escalating sovereign debt and banking sector problems will favour European introspection.
Individual European economies are modest in size relative to the US. But as a single entity the European Union, including the 17-member eurozone, accounts for more than 25 per cent of global GDP, making it the world’s largest economic unit. Continue reading