To preserve the Euro, while at the same time guaranteeing failing economies within the Eurozone (EZ), it is necesary to bring about fiscal union, as in common tax laws.
Failure to preserve the Euro would bring about the end of the world as we know it.
Therefore fiscal union it is.
That's the logic, like it or not.
We can confidently expect that the mighty Eurosceptic Right are not going to like it.
So in that case, they are just going to have to lump it, because the the alternative, as far as I know, is global economic malaise. Global recession. A Great Depression.
Maybe I'm being a wishy-washy bleeding heart soft headed liberal treehugger greenie here, but I think this is an outcome to be avoided.
Maybe we should welcome the downfall of Capitalism (whatever that is), and join Nigel Farage in calling for its immediate death through doing whatever we can to disrupt closer European Union as a response to the economic crisis.
Unfortunately, I see a big economic crash as causing huge pain, chiefly manifested as unemployent, but with risks of crime, conflict, social disquiet, riots, attempted revolutions, international quarrels, wars and even, God forbid, nuclear war.
This tips me personally towards trying to fix the present system, by rapid introduction of reforms, as follows:
- Global Financial Transaction Tax Agreement
- Global closure of tax havens
- Trans-National corporations acounts transparency
- Stimulus not Austerity as the way to renew broken economies
That is a tough set of specifications. Hmm...Ah yes. The Green Wage Subsidy.
There are many other measure to be added, from controlling TNCs to living on a low income, but I can't cover everything in one posting.
So, on balance I reckon that we should back the Merkozy Plan, but insist that it is followed by radical reforms to terminate the haemorrhage of wealth from the pockets of the 99% into the accounts of the 1%.
I could be wrong, but it feels right to me.