EU to Borrow Money as a Single Entity

The EU’s Internal Market Commissioner and Euro-federalist fanatic Thierry Breton is giddy with glee, as for the first time, the EU has given itself the power to “borrow money for Europe and Europeans”. This week, fiscally conservative Germany finally capitulated to let the European Union assume shared responsibility for some debt. The EU will now issue €390 billion worth of grants and €360 billion worth of loans. It’s the first time the EU has borrowed money like this to give out as grants to countries…

The frugal EU nations of Austria, Sweden, Denmark and the Netherlands have softened their opposition to fiscal union. One thing Eurosceptics and hardcore Euro-federalists have always agreed on is that EU monetary union without fiscal union is bonkers. The sceptics saw this as an argument to not pursue monetary union as fiscal union would in effect create a United States of Europe, which was not desirable. The federalists saw the former as a way to pursue the United States of Europe by the backdoor…

This week’s move is not yet the famous ‘Hamiltonian moment’ – where the now famous United States founding father and first Treasury Secretary Alexander Hamilton persuaded Congress to allow the United States as a federal entity to actually assume the debts of all 13 distinct colonies in the 1790s – yet the federalists at the heart of the EU project see this moment as a first step towards that assumed inevitability. They probably dream that one day there will be a musical depicting Guy Verhofstadt dancing with Ursula von der Leyen. The United States of Europe project marches on…

mdi-timer 23 July 2020 @ 16:10 23 Jul 2020 @ 16:10 mdi-twitter mdi-facebook mdi-whatsapp mdi-telegram mdi-linkedin mdi-email mdi-comment View Comments
EU Proposes Trump-Like Travel Ban

It’s amazing how quickly the EU abandon freedom of movement during a crisis…

mdi-timer 16 March 2020 @ 15:20 16 Mar 2020 @ 15:20 mdi-twitter mdi-facebook mdi-whatsapp mdi-telegram mdi-linkedin mdi-email mdi-comment View Comments
EU Seeking “Unique” FTA with UK

EU Commission President Ursula von der Leyen has confirmed the UK will get a bespoke trade deal with the EU, rather than a carbon copy of another country’s settlement. Another victory for Vote Leave, who always said the UK would secure exactly this…

In a statement to the EU Parliament in Strasbourg, von der Leyen said she was willing to negotiate a zero tariff and zero quota relationship for goods – something that no third country currently enjoys with the bloc. However, the Ursula von der Leyen did say the EU is seeking a level playing field…

This is not the sting in the tail many think it is. Brexiteers shouldn’t confuse a level playing field with regulatory alignment, or even ‘dynamic’ alignment with EU rules. Even the EU’s ‘Canada deal’  has some shallow level playing field provisions, and Leavers should keep an open mind to the phrase – as long as it is along the lines of non-regression rather than rule taking. The devil is in the detail, not the soundbites…

mdi-timer 11 February 2020 @ 12:17 11 Feb 2020 @ 12:17 mdi-twitter mdi-facebook mdi-whatsapp mdi-telegram mdi-linkedin mdi-email mdi-comment View Comments
EU Commission Wants to ‘Protect Our European Way of Life’

The EU has announced the planned structure of Ursula von der Leyen’s forthcoming Commission, with a new college of eight ‘vice-presidents’. A whole swathe of new bureaucrats to be thoroughly bored by…

One role attracting attention, however, is that given to Greece’s Margaritis Schinas who will be taking up the role of ‘Protecting our European Way of Life’, which – when clarified – will cover migration and security. Guido’s sure if Donald Trump had created a ‘protecting our way of life’ job to deal with immigration, pro-EU lefties would be losing their heads…

mdi-timer 10 September 2019 @ 12:49 10 Sep 2019 @ 12:49 mdi-twitter mdi-facebook mdi-whatsapp mdi-telegram mdi-linkedin mdi-email mdi-comment View Comments
Ursula von der Leyen – Poor UnfortEUnate Souls

With Ursula von der Leyen about to be confirmed as Junker’s successor by yet another EU stitch-up, Guido brings you a musical combination with her namesake. Surprisingly similar characters…

mdi-timer 16 July 2019 @ 16:57 16 Jul 2019 @ 16:57 mdi-twitter mdi-facebook mdi-whatsapp mdi-telegram mdi-linkedin mdi-email mdi-comment View Comments
Meet Your New EU Overlords

After several days of opaque backroom dealings and horse-trading between 0.000005% of the EU’s population, the EU’s slate of new ‘Presidents’ was finally unveiled last night. Not a single one was on a ballot paper anywhere at the last EU elections, it’s a ragtag collection of undistinguished second-tier politicians unloved in their own countries and scandal-ridden appointees from the Davos circuit. Meet your new EU overlords:

European Commission President: Ursula Von Der Leyen. Who?

  • Daughter of a senior Eurocrat who was born in Brussels, she’s been German Defence Minister under Angela Merkel for five years. Her scandal-ridden stint in charge is widely regarded as a failure back home in Germany.
  • She thinks Brexit is a “burst bubble of hollow promises by populists”, supports a “United States of Europe” and is an enthusiastic cheerleader for an EU army, she even wrote about the importance of preventing “more democratic involvement” from “impeding Europe’s ability to act.” Nick Clegg eat your heart out…
  • It turns out she also plagiarised large parts of her doctoral thesis, her university let her off as they said there had been no intent to deceive. She’ll fit right into Juncker’s shoes…

European Council President: Charles Michel

  • Former Prime Minister of Belgium who was ousted in a no confidence vote last December, naturally because it’s Belgium he’s still ‘interim Prime Minister’ more than six months later. He now gets rewarded for failure and doesn’t even have to move cities. Theresa May must be gutted she didn’t think of it first…

European Central Bank President: Christine Lagarde

  • Everyone’s favourite scandal-hit oompa-loompa is back, evidently the EU didn’t decide that being criminally negligent with €400 million of taxpayers’ money was a barrier to giving her the keys to the Central Bank.
  • She might actually have to take a slight pay cut from her whopping half a million tax-free a year from the IMF. Will she still be able to keep her delightful suntan topped up?

High Representative of the Union for Foreign Affairs: Josep Borrell

  • Spain’s pugnacious Foreign Minister and onetime European Parliament President has been embroiled in more scandals than Juncker’s had boozy lunches. He was forced to resign from the European University Institute over an undeclared €300,000-a-year conflict of interest. One insider tells Guido the board were just relieved to have any excuse to get rid of the worst president the EUI ever had…
  • He was fined €30,000 just last year for a “very serious breach” of insider trading rules on the Spanish stock market, his defence was that it was only 8% of his portfolio. I’m rich, it doesn’t matter!
  • He’s fiercely hawkish over Gibraltar and says that the UK will split before Spain, and would welcome an independent Scotland into the EU. Despite his visceral opposition to an independent Catalonia…
  • He says that “you have to live with” how Iran wants to wipe out Israel and also likes being highly aggressive with journalists and innocent Catalan protesters. Makes Trump look diplomatic…

You didn’t vote them in, you can’t vote them out, in fact they can do pretty much whatever they like while living off hugely generous salaries and expense accounts funded by your taxes. EU democracy at its finest once again…

mdi-timer 3 July 2019 @ 11:30 3 Jul 2019 @ 11:30 mdi-twitter mdi-facebook mdi-whatsapp mdi-telegram mdi-linkedin mdi-email mdi-comment View Comments
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