EU . . . Too Big To Fail!

EU photo

I have never been a fan of the EU. When Ted Heath took us into the ‘Common Market’ we were told it was to ‘make trading with each other much easier and to reduce the possibilities of future aggression”. At the time there were protests of the birthing of a ‘Super State’, which were immediately poo pooed by politicians and which history has subsequently proved to be the very object of their silent agenda.

These are the unfortunate/prophetic (you decide) words used in Wikipedia, as the organisation grew (My underlining) : “In 2009 the European Community’s institutions were absorbed into the EU’s wider framework and the community ceased to exist”. Profound or what!!!

When you look at the way Greece is now being ganged banged by the IMF, World Bank and ECB there is certainly no community spirit there, given that it was abusive moneylending practices that created the problem for them and the rest of us in the first place. Then there is my primary gripe with the whole set up. For each of the last 20 odd years the EU has not had its accounts signed off because not all the money can be accounted for.

‘Community’ doesn’t enter the equation for this elephantine bureaucracy, which was designed by the corporate world and politicians for the corporate world and politicians. What is happening to Greece demonstrates just how much the banks are in charge now and how little they care about community. Greece is being reprimanded in the most obscene manner, as its people are reduced to penury so that the moneylenders can extract their pound of flesh, whilst also providing a warning to the rest of us.

We must watch closely what is going on there, as it points to a repressive climate being prepared for us all if the troika are allowed their head. Slowly they are massaging the European countries into a single entity, where they will rob us of national identity and public assets in a quest to homogenise a Capitalist state and market place.

With the power of the unions reduced, people will be constantly migrating to survive on lower and lower wages. From these lowering wages they will also be expected to pay taxes that not only fund these bloated bureaucracies but also the interest on vast debts, plus bailing out equally bloated corporations when they come unstuck through their dubious business practices.

When you look at the EU, absolutely nothing is designed for the benefit of the people. Taking down national borders seems friendly enough until you come to recognise that immigration is a one way street and little has been done, by the thousands of people employed and justified by the Brussels ‘rice pudding’, to develop a growing multicultural society.

They can talk about fish quotas and design endless forms to ham string small businesses but any question of integration of the diverse cultures does not interest them. They are only capable of regulation and totally incapable of management. ‘Union’ should be struck from the title!

For me the latest and greatest sin is the deliberate and contrived years of secrecy they felt necessary to cloak their dealings with the US in, over the democracy crippling TTIP agreement. It demonstrates the leverage the banks have over the European political establishment, as it has politicians supporting a powerful agreement that effectively strips them of their powers to regulate for the protection of the people who have elected them.

Sentiment is growing against a power that, as it has grown in size, has become more and more detached from those who elect it. As a species we are obsessed with building vast empires which become too big for us to manage and subsequently fall away in ruins. Back in the 80’s Enron was a perfect example of this, where not only the company but its financial advisors, one of the world’s largest accounting firms, collapsed through fraudulent practices designed to convince everyone they were both successfully growing ever larger.

Their activity pales into insignificance however, compared to the 2008 financial tipping point that was the banking scandal. To stave of the inevitable ruination the biggest confidence trick in the history of our species was perpetrated with the cry “Too big to fail”. It may have bought them some time but we have a failing and bankrupt global financial system that others, including the Chinese and Latin American countries, or the internet, will eventually replace.

The EU is headed for its own tipping point as it’s failing financial policies and gross misuse of stolen national powers propels a growing resentment by a duped European electorate. When the crunch comes and maybe Greece will precipitate it, we will again be threatened by that familiar cry of “Too big to fail” and our only response this time must be, “You failed because you were too big!”

Until the next time

 

 

Thinking from his Book: Global Magna Carta. Returning Power to the 99% . . . If They Want It! By J T Coombes