Thursday, November 15, 2018

The EU: Beggining Of The End Or End Of The Beginning?

Where to EU?  What started as a lofty and noble idea to establish an enduring  peace in the continent most guilty of global blood letting is turning into a low, cheap and acrimonious scuffle about Polish plumbers and Italian bravado.

Cheap it may be, but the current fight amongst member states is, nevertheless, dangerous.  And the reason is not what the fight is about, but because of what is missing at the very foundation of the EU. To wit, a common fiscal policy mechanism and a common defense structure.

What are the two most important elements of an empire?  A strong global currency and a strong military with global reach.  The EU seemingly has the first, but in the absence of a common fiscal policy structure it actually doesn't, and has zero common military.

Therefore, if the EU is to survive and even thrive it urgently needs:
  1. A European Department of Treasury / Ministry of Finance AND
  2. A European Army
Just think of Rome without its legions and aurii or the British Empire without a pound sterling and the Royal Navy.

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