2016 – Red alert on the dollar, financial crisis, oil, banks… General strategic retreat in the perspective of an imminent “hard landing”

Our team has chosen to place 2016 under the sign of a “general strategic retreat”, affecting all levels of social organization, starting of course with the national levels, but not only.

This retreat (or fallback) will not yet represent in 2016 the end of the global mobility, of the international exchanges or of the internet, and the world will still be a global village this year. Nevertheless, we will see walls getting built, regulations being imposed, flows getting controlled, armies strengthened, markets fragmented … all this not on an international basis, since the failure of the global governance reform is striking, but on the basis of the only available political entities on the market: nation states, religious and ethnic groups, certain supra-national organizations and the local level. Continue reading

‘Two-Pack’ enters into force, completing budgetary surveillance cycle and further improving economic governance for the euro area

A new chapter in world history is being made, yet very little attention is brought to it. Not one article. When the readership gets past the friendly, politically polite terminology found within, one can see that this further subjugates EU members and that the economic sovereignty of all EU members is now gone. The United States of Europe, or European Project as some would put it, is well underway.

Since this is not necessarily an article, but a press release, the entire document will be posted.

Reference: MEMO/13/457 Event Date: 27/05/2013

Since the launch of the euro, clear rules to ensure sound public finances have been in place in the form of the Stability and Growth Pact (SGP), which sets the well-known limits for budget deficits and public debt of 3% and 60% of GDP, respectively. However, the global economic and financial crises exposed shortcomings in economic governance and budgetary surveillance at the EU level. These shortcomings were effectively addressed with the creation in 2010-2011 of the European Semester of economic policy coordination and the six legislative proposals known as the ‘Six-Pack’, which strengthened the SGP in a number of ways.

However, given the higher potential for spillover effects of budgetary policies in a common currency area, there is a clear need for still stronger mechanisms specifically for the euro area. To address this need, in November 2011 the Commission proposed two further Regulations to strengthen euro area budgetary surveillance. Continue reading

Euro blueprint gives Brussels economic sovereignty over members

Eurozone countries would lose the right to set their own budgets and end up surrendering economic sovereignty to Brussels under a blueprint to “complete” the European Union’s single currency.

A masterplan for “completion of economic and monetary union” has been set out in a confidential document to be discussed by EU leaders at a Brussels summit next week.

In the nine-page paper, seen by The Daily Telegraph, Herman Van Rompuy, the president of the European Council – the monthly summits of EU leaders – charts a series of steps from ongoing financial reforms to overall political union for the eurozone. “The general objective will be to aim for a progressive pooling of economic sovereignty at the European level,” the paper states. Continue reading