Was the euro crisis a planned event?

From the outset many people predicted the failure of the euro, because you can’t have monetary union without fiscal and hence political union. And it really seemed crazy at the time that Germany and France would pool their currencies with all those poor, profligate countries who are now in distress.

I don’t know if this is an original idea, but here’s an explanation. Maybe France and Germany created the euro because they knew it would end up at this crisis point. And now we see the coup de grace. They are about to impose fiscal and hence political union on the 15 other nations in the eurozone, who are so in debt that they can’t refuse.

First the carrot, then the stick. The poorer countries joined the euro because they knew that money would flow in their direction. And now that it has flowed, they are in debt to the big countries, which means that democracy has been suspended. Governments in Italy and Greece have recently been replaced on the orders of Merkozy. Because a debtor, in so deep, has no choice but to do what the creditor says, or to go down. And the price of saving the rest of the Eurozone is fiscal union, run from Brussels. Which means that all people in the Eurozone are equal, but those in France and Germany are the only ones with effective votes.

Germany and France knew that the other countries would not vote for political union at the outset (remember the referendums which rejected the last major set of treaty changes), so they now have Europe in a place where voting is irrelevant.


In the UK, I hear people voicing concerns that the Government is making moves to create confidence in the markets, rather than thinking about what the electorate wants, and that this is undemocratic.  What did you expect?

If you want to be independent, you must not be in debt. Try telling your bank that you and your family have voted not to pay back your massive loan right now, and in fact want more money from the bank.  It’s a democratic decision, sure, but it has no force. Do what the the bank wants, or they will foreclose. And this is happening big time in the Eurozone right now.