The fact that society will in essence collapse to a third world level doesn't matter because Brussels will be well funded and quite capable of enforcing the rules it makes.
It's the wave of the future. The post industrial, post petroleum, age when societies no longer rely on the debt slaves with decent jobs but can transition to the clean, green, slavery of drugs both old and new.
Your description of where civilization is heading is magnificent. I think of HG Wells TIME MACHINE. It does not end well for those who isolate themselves from the subservience they create.