This morning I read that two journalists from Corriere della Sera discovered there were 72,000 official cars [in Italy], costing 1.85 billion euros annually. In Spain, the airport of Ciudad Real boasts one of Europe longest runways. Its vast airy light terminal is designed to handle 5 million passengers a year. It cost nearly a billion euros. Yet there are no planes.
During Irelands property boom, In the space of 10 years, 553,000 houses had been built. Nearly 300,000 of them lay empty. One city, Valencia in Spain, ran up a debt of 25 billion Euros.
These crimes of negligence by those responsible for overseeing the spending of OUR £56 million a day, and the money stumped up by other net contributor members of the EU, Germany, France, Austria, The Netherlands, Sweden, Denmark, Finland and Luxembourg were all linked to the synthetic boom that created a false economy in the European Union after the single currency was launched in 1999. German economic prudence culture didn’t stretch as far as Brussels or Strasbourg, instead the pen pusher and bean counters adoped a culture of WTF, we’ll just demand bigger contributions. The Member states can always raise taxes.
The single currency (Euro), in effect monetary union without fiscal or political union, played a major part in getting the EU into its current mess and is also stopping them getting out of it. Monetary Union was never going to work without political union first. Unfortunately political union is and always will be a non starter with the citizens of twenty eight member states which have vastly different cultures.
Anti European Union protests in greece (source)
It is a gross understatement to say the single currency was introduced prematurely in 1999. The creation of the Euro was a political act by a pen pushers and bean counters who fancy themselves as a pan European elite. Unfortunately these smooth faced, soft handed milksops could not organise a piss up in a brewery, let alone broker the political deals that would be needed to create a single European super-state. The military approach favoured by Napoleon Bonaparte and Adolf Hitler was a more sensible approach but they failed to take account of British bloody – mindedness and Russian obduracy.
The European Monetary System was always about politics not economics. It was supposed to be the next stage to an “ever-closer union”.
Unfortunately, the single currency was also an open invitation for countries with very different economies, and very different economic and political cultures to Germanys, to get into serious trouble and for incompetent bureucrats to start acting like despots (the least amount of power always leads to the greatest desire to abuse it – Bernard Levin).
As interest rates were artificially lowered to boost borrowing and spending and fuel a debt led boom, in the poor countries of southern Europe borrowing and spending exploded, loonytoons business ventures like those descrbed in the opening paragraphs were financed with loans guaranteed by the EU and debt rocketed. The financial crash of 2008 brought the hang-over: exposure, markets pushing up the cost of borrowing so high that only EU/IMF bail outs could prevent a default; and then the so called troika of the EU, the IMF and the ECB enforcing a new religion of austerity on spendthrift governments. it was the poor, the people that socialist politicians claim to care about but love to shit on, who were hit hardest.
Want to know more about The Lost Continent:
here’s a review in The Express
As mere mention of The Express with have swivel eyed lefty UKIP haters foaming at the mouth, here’s a review in the Sunday Times you will have to pay to read.
Unfortunately the left wing ‘quality’ papers, The Guardian and The Independent have shown typical left wing bigotry in adhering to the policy of refusing to acknowledge that a lot of intelligent, well informed people do not subscribe to their Maoist European Superstate agenda and have not published reviews of one of the most important of recent non fiction publications.
And those hypocrites have the arrogance to call their opponents bigots. “Bigot – a person who is intolerant of any ideas other than his or her own, esp on religion, politics, or race” Concise Oxford English Dictionary
RELATED POSTS:
Self-Managed Communities Thrive in Spain Without the State
The Original Boggart Blog 
