Skip to comments.ECB: Crisis nations have lost their sovereignty
Posted on 10/28/2012 9:13:38 PM PDT by Olog-hai
The head of the European Central Bank (ECB) on Sunday threw his weight behind a German scheme to allow the EU to intervene in countries' budgets and propose changes before they are agreed in parliaments.
The EU should have the power to police and interfere in member states' national budgets, Mario Draghi told Der Spiegel magazine in an interview due to be published on Monday, saying he completely supported the suggestion by German Finance Minister Wolfgang Schäuble to give more autonomy to the EU's economic and monetary affairs commissioner.
"Several governments have not yet understood that they lost their national sovereignty long ago. Because they ran up huge debts in the past, they are now dependent on the goodwill of the financial markets," Draghi said.
(Excerpt) Read more at thelocal.de ...
Welcome to the new Evil Euro-empire
That was the real purpose of the EU in the first place.
It was always there in writing. And of course, the ongoing “beneficial crisis” that Romano Prodi spoke of before the euro currency became official.
The end game was always a centralized government
The EU is writing your budget?
One word solution...
On the one trillion Euros of sovereign debt that was force fed to European private banks by the European Central Bank.
That will get someone’s attention.
This whole “Euro Crisis” is bogus.
It is a thinly disguised effort to consolidate political power in the unelected hands of Socialist bureaucrats.
No country will voluntarily leave the Euro Zone.
And many of them will default on their sovereign debt, no matter what the bureaucrats do.
I asked this question of a Danish exchange professor I had years ago: “Why would any nation give up their soveirnty to be part of the EU?” she said it was all about cooperation and working together. I just told her, for your sake, I hope so.