Spanish PM calls for eurozone 'centralised control' authority

#1
Spanish premier Mariano Rajoy calls for eurozone 'centralised control' authority - Telegraph
Mariano Rajoy, the Spanish prime minister, has called for the eurozone to have a "centralised control" authority, which would be in charge of the budgets of all the nation states.
Just what we need. More control by the Brussel muppets and less sovereignty.

It is interesting, where previously nations only ceded sovereignty by force of arms, we are now ceding control by force of £/$/€.

Another observation: as time progresses, there is an upwards flow of sovereignty from individuals, businesses right up to countries to centralised organisations under human control.

Individuals are now less free and more watched than at any time in history. We depend on the police for our protection, big companies (Tesco, Morrisons, Sainsburys) for our food/fuel, employers for our paycheck, the banks for our houses, etc.

Likewise small enterprise is drying up and consolidated into big companies - Google for information, Facebook for narcissists, Wal-Mart/Tesco/etc. for food

Now even governments are ceding power willingly, without a fight.

All we really need now is one world leader to take the reins of the utterly centralised systems and mess things up on a global scale.

Centralised authority = centralised cock-ups
 
#2
As long as control and the currency is centralised well away from me...
 
#4
Isn't this a ploy so that the Spanish Government could simply blame someone else for the countries finances going down the toilet?
 
#5
Mariano Rajoy, the Spanish prime minister, has called for the eurozone to have a "centralised control" authority, which would be in charge of the budgets of all the nation states
There is already isn't there?

It's called the Deutsche Bundesbank....

The Germans do appear to be faced with having to do what is necessary to rescue the "European Project" (whatever that is). Which must be hacking the French off hugely.
 
#6
Looks like a nice new racket with plenty of opportunity to make "loadsamoney" - worth keeping an eye on.

With all this EU stuff happening, makes you wonder why criminals still bother with drugs, surely politics and the EU in particular is a better racket ..........if the Krays were still around, I reckon they'd be MEPs!
 

seaweed

LE
Book Reviewer
#7
A centralised power structure attracts all the unprincipled chancers who want to be top dog. Worked examples are the mediaeval RC church, and New Labour. etc.
 
#9
Be careful posters. There are those on this site who defend the indefensible EU with a rabid enthusiasm. Additionally, remember with fear and trepidation, that the EU will be monitoring this site and noting the names of all those being less than fulsome in their praise of the EU.

The 'European Project' is the aim of forcing upon hundreds of millions of people a super-state: controlled and commanded, without recourse to any form of democracy, by Berlin.

The 1870, 1914, 1939 misadventures all failed, except in highlighting France's inability to defend herself, and this misadventure will fail as well. The Germans will become incandescent with rage that the Greeks, Portuguese, Spanish, Italians and others fail to comply with every order, that they will do what they always do when disobeyed: invade France.

Thank God that the failed psychotic oaf Brown hated Blair so much he refused to allow us to join the doomed euro (eurine). Had he not done so then we would now be faced with:

a. Being ordered by Berlin to do this and that, and,

b. Having to live with images of the grinning spiv Blair as President of Europe and the equally disgusting image of his his ugly free-loading wife posing as the First Woman.

If the Greeks leave the eurine, or if the eurine collapses into a heap, so what? We will be minimally affected and the Europhile doom-mongers warning about disaster will be shown up the liars that they are.
 

Wordsmith

LE
Book Reviewer
#12
There are only two long term options for the euro zone.

1) Some form of political and financial union - with money being transferred from the wealthier north to prop up the weaker economies in the south.

2) Some form of breakup of the Euro. At a minimum, this would be Greece, with Ireland and Portugal probably exiting some time later. If Italy and Spain were to be forced to exit, that would be the end of the whole 'United States of Europe' project.

The first option would be eyewateringly expensive for the wealthier euro nations like Germany and Holland. The second option would be even more eyewateringly expensive for the whole of the euro zone (and the UK). As Rajoy/Spain would be the beneficiary of any political and financial union with large transfers of funds heading in Spain's direction, it makes sense for him to call for it. So from his point of view, its smart politics.

And its also the politics of desperation. Spain looks increasingly like slipping over the edge of the cliff and into deep financial problems. The economy is in recession, unemployment is at 24%, the banks have a large and ever growing black hole in their balance sheets and money is being withdrawn from Spain at an increasing rate. If something isn't done soon, Spain is going to require either a Greek style bail out from the euro zone or a loan from the IMF. Either would be a national humiliation for Spain.

Wordsmith
 
#13
Better off investing in commodities... anyone want to buy some tinfoil?
... or pies ... must be a bulging market following the retreat on the " Pasty Tax " ... on a more serious note were not all of the Euro State Banks not subject to " Stress Testing " in the past couple of years and no major problems revealed but then again I suppose " events dear boy , events " have precipitated the current Banking mess in Spain .
 
#16
IIRC, that was tried in 1940-45 but was not a great success.
You have to admit, it was pretty successful in the beginning, but the downfall was spectacular. Just like the Euro really.

I think that the Spanish PM, and the Greek anti-austerity parties, and "Mad Frankie" Hollande in France are suggesting that their own countries' debts should be shared out among the rest of the Eurozone. It's logical enough. You can't really have a single currency with 17 different governments, 17 different fiscal policies, 17 different central banks and 17 different national bond markets.

Of course, the type of fiscal union that is being proposed would require relatively rich Eurozone countries to pass massive subsidies to relatively poor Eurozone countries, just as rich American states subsidise poor ones or rich parts of the UK subsidise poor parts.

According to Frau Merkel, such a move would be illegal under German law. It would certainly be unacceptable to her electorate who are already complaining bitterly about German funding of the Greek bailouts.

Dave should take a back seat on this one and watch as the irresistable force of Euro socialism meets the immovable object that is the Deutsche Bundesbank.
 
#17
Isn't this a ploy so that the Spanish Government could simply blame someone else for the countries finances going down the toilet?
I think you are mistaking them for the UK.

In Spain's case it is largely the fault of their own poorly regulated private sector aided and abetted by not very bright German and French finance. It's a capitalist economy that like Ireland was in extraordinary health before Lehman and these things will happen. It's only because they are ending up socializing toxic real estate debt that they are starting to approach the levels of public debt that the oh so prudent Germans habitually run. And if Spain goes you can probably wipe out any gains in EU GDP since the 70s.

And it's largely the resistance of the creditor countries to setting up a resilient european banking system that leaves the whole EU, and actually even Wall St, so exposed.
 

Wordsmith

LE
Book Reviewer
#18
I think that the Spanish PM, and the Greek anti-austerity parties, and "Mad Frankie" Hollande in France are suggesting that their own countries' debts should be shared out among the rest of the Eurozone. It's logical enough. You can't really have a single currency with 17 different governments, 17 different fiscal policies, 17 different central banks and 17 different national bond markets.
I like to think of the euro as being 17 ill-assorted countries going out for a big, expensive meal. When the bill arrived Greece said it had left its wallet at home and couldn't pay, as did Portugal. Ireland tried to pay but found its credit card had been blocked. Italy and Spain have shamefacedly looked in their wallets and have said they've got enough money to pay part of their share of the bill but not all of it.

An argument has now broken out about what to do.

-- The UK (sitting all alone at the next table) is sniggering quietly to itself and suggesting France and Germany should pay.
-- France says its got lots of money but - sacre bleu - isn't going to pay for anyone else's bill.
-- Germany has got enough to pay the whole bill but says that everyone else who can't pay should pawn their clothes to settle up their share of the bill. And if that leaves them naked and without the money for the taxi home - tough shit.

In the meantime, the restaurant owner has been listening to the conversation with increasing alarm. They've just come over to the table, said the police have been called and all 17 countries are going to get arrested unless he gets paid.

Tune in the next exciting episode next week...

Wordsmith
 

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