France Chaos Becoming A Threat To The Entire European Union

News services in Germany and around mainland Europe are expressing concerns that the current chaos in France, could easily spread, as it has come just when news is focused on the Brexit campaign while public anger at economic stagnation, high unemployment, unsustainable levels of immigration and the authoritarian attitude of senior EU bureaucrats is at an all time high.

France Chaos Becoming A Threat To The Entire European Union

 

The centre left, federalist, oligarchical collectivist political consensus that had dominated European Union politics for thirty years is disintegrating. UKIP in the UK, Front National in France, Italy’s Five Star movement and Liga Nord, Syriza in Greece and the Swedeb Democrats have set in train a grassroots rebellion against bureaucratic dictatorship from Brussels. Establishment parties of centre-left and centre-right – La Casta, as they say in Spain – have successively immolated themselves by imposing laws and policies forulated in Brussels against the interests of their own citizens.

Spain’s Bolivarian Podemos party, a recent start up, is currently topping the polls and with only moths to go to an election the popularity shows no sign of fading. Podemos has endured crippling internal rifts. It has shrugged off hostile press coverage over financial ties to Venezuela. Nothing sticks, simply because Podemos is anti establishment and the parties of the polical establishment and the political, business and bureaucratiuc establishment are recognized as irredeemably corrupt and rotten to the core.

The insurrectionists who came from nowhere last year, with Trotskyist roots and more radically left wing views than those of Syriza in Greece, are pulling further ahead in the polls. The latest Metroscopia survey gave Podemos 28pc. The ruling conservatives have dropped to 21pc.

Europe’s policy elites can rail angrily at the folly of these plans if they wish, but they must answer why ex-Trotskyists with a plan to dismantle market capitalism are taking a major EMU state by storm. It is what happens 5.46m people lack jobs, when 2m households still have no earned income, when youth unemployment is still running at 51.4pc and rising, and home prices are down 42pc, and the economy six years into a depression and with only fraudulent statistics to defend its policies.

The EU elites themselves have run their currency experiment into the ground by imposing synchronized monetary, fiscal, and banking contraction on the southern half of EMU, in defiance of known economic science and the lessons of the 1930s. It is they who pushed the eurozone into deflation, and thereby pushed the debtor states further into compound-interest traps.

It is they who deployed the EMU policy machinery to uphold the interests of creditors, refusing to acknowledge that the root cause of Europe’s crisis was a flood excess capital flows into vulnerable economies. It is they who prevented a US-style recovery from the financial crisis, and they should not be surprised that such historic errors are coming back to haunt.

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