The Eurozone....it will not last
The ongoing farce of the Euro area
With the Eurozone continuing to suffer from a lack of real consumer lead growth and a political pull to the right. You would expect the leaders of the major economies to show unity by promoting growth and security.
But what do we see, Germany (the EU Banker of last resort), France (35 hour working week), Italy (131% GDP Debt) talking about closer federal integration! Have they not been listening to the people of Europe, are their advisers that poor (aka the king has no clothes) that they somehow don't realise that the right is driving Europe to be a closed fortress of middle aged decay and that the financial reforms, or rather lack of them, cannot and will not be indefinitely supported by the Germans.
The UK, wisely, made a decision not to join the Euro and has ‘Brexited’ as its people see the EU project as failing. No real control over immigration, soft boarders, soft bloated politicians who are at increasing odds with its electorate.
Do they not see that without the support of the people then the EU Project is doomed to failure and with its spiraling debt it will force more Eurozone members into appalling Greek default positions?
Look at France how does it hope to prosper in the long term without restructuring its labor market. The laws are so out of kilter with the rest of the world, it would surely be failing state had it not had access to cheap money through tying itself to the German economy. Can this last?
Everyone wants something for nothing. We all have to pay for security whatever form this takes. Health, Military, Social, Education, Infrastructure. Europe for too long has tried to justify its rich welfare state on history. That time is fast coming to and end.
Without major reform Banks will fail, the euro with crumble and become a distant memory replaced by trade barriers, insecurity and danger. The real looser will be the the citizens of Europe who have been sold a false dream. Their is no gold at the end of rainbow just a cliff and an abyss.