Daily we are told all about the restructing that the PIGS of the EU are having to do….well Greece is not going well and could bottom out tomorrow and yet they, the EU keeps forcing governments to do what they want….Iceland’s population said NO and now Spain is flipping off the EU…..
As many readers will already have seen, Premier Mariano Rajoy has refused point blank to comply with the austerity demands of the European Commission and the European Council (hijacked by Merkozy).
Taking what he called a “sovereign decision”, he simply announced that he intends to ignore the EU deficit target of 4.4pc of GDP for this year, setting his own target of 5.8pc instead (down from 8.5pc in 2011).
He is surely right to seize the initiative. Spain’s economy will contract by 1.7pc this year under his modified plans and unemployment will reach 24pc (or 29pc under the 1990s method of counting). To compound this with manic fiscal tightening – and no offsetting devaluation – is intellectually indefensible.
There comes a point when a democracy can no longer sacrifice its citizens to please reactionary ideologues determined to impose 1930s scorched-earth policies. Ya basta.
“Spain and other nations in the EU are sick and tired of Chancellor Merkel’s meddling and Germany’s usurpation – with the help of Sarkozy’s France and their pretended “executive presidency” that does not in fact exist in EU treaties.”
“Rajoy must not retreat one inch. The stakes are high and the country is in no mood to suffer humiliations from a Chancellor who is amassing all the savings of Europe and won’t listen to anybody, as if she were the absolute ruler of the Union. Merkel and the Commission should think hard before putting their hand into the sovereignty of this country – or any other – because it will be burned.”
Before everyone starts blaming those damn socialists….Spain voted out the socialist government a couple of months ago and this government is more conservative…..
The EU is slowly disintegration ………who cares, you may ask? Just wait! When the world markets start a downward spiral yet again and you demand an explanation…….please do not forget….you had one!