Italy shows no sign of folding like the Greeks did a few years back when they took on the EU. From Mike “Mish” Shedlock at money-maven.io:
Italy’s is on a collision course with the EU in two different ways. The first regards Italy’s budget.
Outgoing European Commission President Jean-Claude Juncker warns Italy faces an “Excessive Deficit Procedure” and may be fined billions of euros. No country has ever been fined. This is the first time a country has faced such a ruling.
France regularly breaks the deficit rules but “France is France” as Juncker once stated.
The center in Europe is the increasingly detested EU, and so the center isn’t holding. From Tom Luongo at strategic-culture.org:
If there is one big takeaway from the recent European Parliamentary elections it is that centrist parties which stand for nothing in particular represent a lot fewer people. From both the ‘left’ and the ‘right’ the center lost ground across Europe.
The Euroskeptics got a lot of press in the run up to these elections and the final result was pretty much in line with expectations, with a couple of exceptions. The pro-EU left lost a lot more ground in Sweden than expected but the Dutch People’s Party were rejected thoroughly in the Netherlands.
Otherwise the polls were mostly in line with the results. And while the early spin tried to put a brave face on results in the U.K. and France Marine Le Pen outpolling sitting president Emmanuel Macron just two years after he beat her in the presidential election is notable.
The results in the U.K. were a microcosm of the trends we’re seeing across Europe. The major parties, both campaigning from the center, lost the confidence of the people on both sides of the divisive Brexit argument.
Those that want Brexit in no uncertain terms bolted to Nigel Farage’s Brexit Party while those fed up with Labour’s indecision on not only Brexit but a host of other issues bolted for the Liberal Democrats and the Greens.
And a lot of those seats that would have went to the Social Democrats via Labour in the European Parliament now belong to Guy Verhofstadt and ALDE.
But the U.K. isn’t alone in this splitting along ideological lines. Germany has seen the collapse of the Social Democrats give spark to the Greens there as well. The Greens outpolled Angela Merkel’s Grand Coalition partners by more than five points, coming in 2nd behind the CDU/CSU with 20.5%.
If the EU is so essential, why do so many European nations that are not part of it do so much better than so many that are? From Ferghane Azihari at mises.org:
A certain nostalgic view of the Roman Empire has helped to push the idea the European Union is essential to the prosperity and success of Europe. But a closer look at the continent invalidates the link between prosperity and affiliation to Brussels’ Europe. Among the richest European countries are the countries outside the Union. This is the case in Switzerland, Norway, Iceland and Liechtenstein.
Nor is there a link between the wealth of a country and its membership in large political groups at the global level. In addition to the regions already mentioned, many places combine smallness and wealth, as shown by Singapore, Taiwan, South Korea and New Zealand.
Unfortunately for the proponents of a political Europe, the historical rise of the European civilization also illustrates the opposite of the imperial narrative. The American historian David Landes recalled in 1998 that the fall of the Roman Empire was a happy event for the Old Continent. These affirmations support the work of the sociologist Jean Baechler, who, three decades earlier, wrote that the expansion of European trade was favored by the anarchy inherited from the feudal order.
The European Parliamentary elections will reveal just how strong nationalist sentiment is. From Patrick J. Buchanan at buchanan.org:
A week from today, Europeans may be able to gauge how high the tide of populism and nationalism has risen within their countries and on their continent.
For all the returns will be in from three days of elections in the 28 nations represented in the European Parliament.
Expectation: Nationalists and populists will turn in their strongest performance since the EU was established, and their parliamentary group — Europe of Nations and Freedom — could sweep a fourth of the seats in Strasbourg.
Nigel Farage’s new Brexit Party is predicted to run first in the British elections, winning two to three times the votes of the ruling Tory Party of Prime Minister Theresa May.
In France, Marine Le Pen’s National Rally is running even with the party of President Emmanuel Macron, who pleads for “more Europe.”
Matteo Salvini, interior minister and leader of the League, predicts his party will finish first in Italy and first in Europe.
At Salvini’s invitation, a dozen nationalist parties gathered in Milan this weekend. A week from now, they could be the third-largest bloc in the European Parliament. If so, their gains will come at the expense of the center-left and center-right parties that have dominated European politics since World War II.
If Brexit goes through, ordinary British people may get the idea that they, rather than the Deep State, should be deciding how they’re governed. By George Callaghan at theduran.com:
- In 2016 the British people voted for independence. This was despite the despicable threats of the EU elite
Decades ago the British deep state hatched a nefarious plot against the British people. The elite wanted to foist European unity on an unwilling populace. The notion of the conceited Whitehall elite was that the peasants were stupid and the mandarins knew best. In late 1940s the United Kingdom politely declined offers to join the proposed European Coal and Steel Community. This was an embryonic European Economic Community. As Churchill said ‘we are with Europe but not of it.’ One Labour MP sagely said of joining the European project ‘the Durham miners won’t wear it.’ Those were the days when MPs quaintly cared about serving their constituents.
Harold Macmillan sought British accession to the European Economic Community. The French President de Gaulle rightly rejected the British application. De Gaulle was doing the British a favour. He correctly surmised that the United Kingdom would never be fulling committed to the EEC and that the bulk of the British people were adamantly opposed to such a venture. Charles de Gaulle was a visionary perhaps 70 years ahead of his time. He said that if the UK were admitted it would be forever sticking its oar in. These were prophetic words!
In the late 60s Harold Wilson’s Labour Government sought British membership of the EEC and was again rebuffed. In the early 1970s Edward Heath’s Conservative Government applied to the EEC for a third time. On this occasion Heath’s efforts were crowned with success. It only succeeded through subterfuge of the grossest character. Heath was warned by civil servants that the United Kingdom would have to sublimate itself to European sovereignty. Nevertheless Heath would not let the truth get in the way of his vaulting ambition. He released an official statement that ‘this involves no loss of essential national sovereignty’. Edward Heath did that in full knowledge of this being an outrageous falsehood. The public were assured that the idea there would one day be a single currency was a preposterous scare mongering tactic. In 2002 Heath was asked whether in the early 1970s he had envisaged the UK joining a single European currency. ‘Yes, of course’ he chortled.
Posted in Business, Civil Liberties, Economy, Financial markets, Geopolitics, Governments, Insurrection, Politics
Tagged Brexit, EU, Great Britain, Theresa May
The fate of Brexit will make or break the EU and Great Britain. From Tom Luongo at moneyandmarkets.com:
Brexit is the most important political event of the 21st century. It cuts across so many of the dominant narratives playing out daily in the headlines that it is almost mind-boggling.
In fact, just about any theory you can dream up as to why Prime Minister Theresa May has worked so assiduously to betray and delay Brexit likely has an element of truth to it. I could spend this entire article listing them.
The biggest issue, of course, is that the European Union is a project without end. Its goal is creating the template for world government with only nominal nods to individual states still retaining control over their destinies.
But they don’t get to do so over anything that actually matters. And not in perpetuity, either.
So, with May openly conspiring with German Chancellor Angela Merkel on pushing back the date of Article 50 to Halloween, it’s clear that the next six months will be used to step-by-step end this pesky Brexit nonsense once and for all.
Brexit may tear both the EU and the UK apart. From Tom Luongo at strategic-culture.org:
Brexit has been a fascinating thing to watch. Despite all of the twists and turns, the incomprehensible motions, legal maneuvers and behavior of Prime Minister Theresa “I Surrender” May, for me there’s been a simple through-line to it all.
The EU does not want Brexit and if it were to happen it will inflict incredible damage to the British political system and its integrity.
This is really no different than what happened in Greece in 2015. And it was directed by Angela Merkel than and it is being directed by Merkel today.
The EU’s intransigence in negotiations, aside from it having no other option, is an elaborate bluff to separate and divide the British political class, now that the people have voted to leave.
It preyed on the divisions within the U.K.’s structure, empowering Scottish ‘nationalists,’ the SNP, while offering power to the eternal victim-status seeking Labour leadership. It knew it had a Tory leadership willing to play ball with them to find a way to deliver BRINO – Brexit in Name Only – and a civil service that would provide all the supporting data to gaslight millions.