The Beginning of the New World Order
"The eurozone is merely the most conspicuous symptom of failure. It reflects a historic policy blunder by the rich, prudent nations that linked themselves in a suicidal currency pact with the non-serious countries of Europe, Greece and Ireland foremost among them.
Even the staunchly pro-European Economist magazine admitted last week that ‘the debt crisis is exposing problems in the basic design of the European Union’; that the eurozone faces a stark choice between break-up and fiscal integration, against the strong wishes of its solvent members’ voters.
Some of us used to argue that Europe has been an economic success story. Those who remembered the past poverty of Spain, for instance, rejoiced to see the country apparently booming, its prosperity exemplified by Madrid’s glittering new airport.
Much the same might be said about our western neighbour, the Celtic tiger.
But now we see that their supposed success — not to mention that of Greece and Portugal — was an illusion created by smoke, mirrors, prodigious subsidy and reckless borrowing. The EU’s generosity enabled tinpot countries to create lavish welfare states unsustainable by their own real wealth.
The pain of restoring their solvency will persist for years: Italians last week staged a general strike to protest against austerity cuts. Southern Europe can regain stability and credibility only by making a rendezvous with reality involving a much reduced standard of living.
Beyond the euro, a thousand other, scarcely lesser Euro-nonsenses blight our lives and prosperity. Consider, for example, the impending EU directive affecting 1.3million temporary workers in Britain. From October 1, after 12 weeks’ service, they will be granted identical rights and privileges to those enjoyed by permanent staff.
This can have only one consequence: to deter employers from engaging temporary labour — madness at a time when British unemployment stands at 7.9 per cent and one in five young people aged between 16 and 24 lack jobs.
Equally, a shop that wants to cut its workforce from six to five faces a statutory requirement to make all six reapply for their jobs.
Meanwhile, small businesses employing as few as two or three employees, lacking administrative staff and human resources departments, are drowning in a sea of paperwork.
The European Commission, supposedly a driver for commerce, has become a blight on it."
Click Here for the rest of the story on what the Republicans are about to vote into "Law". You won't believe this one folks.
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