EFSF LESSONS LEARNED AND WHAT THE FUTURE HOLDS

EFSF LESSONS LEARNED AND WHAT THE FUTURE HOLDS

Perhaps the EFSF has been the much needed 11^th hour electroshock required to wake people up to what the European project really means.  There is a whole wave of Euro skepticism sweeping the UK and having spent last week on holiday in Germany’s southern capital Antalya, there are immense misgivings being freely expressed by our Teutonic cousins. One could hardly say the PIIGS in general and the Greeks in particular are exuberant about the situation either.

The politicians and bankers know the realities perfectly well, only they dare not tell the public. They know that the European bail out, to be effective should be for EUR 2,500 Billion, not the paltry EUR 1,000 Billion currently mentioned. So they play a game of “Extend and Pretend” and give the bad news out in salami sized doses, never ever telling the truth. The name of the game is getting through the next bail out and election cycle. This requires keeping the gravy train running, by robbing the efficient, prudent saver economies and bailing out the inefficient spendthrift ones. The communists call this “To each according to his needs, from each according to his abilities”.

The politicians mantra is never do anything for your country, when doing so would be detrimental to yourself.

Mr Sarkozy for example said at a press conference, that neither he nor Mrs. Merkell was in office when the Greek problems were created. He has perhaps forgotten that neither Winston Churchill nor General De Gaulle was in office, when appeasing Hitler led to WW2.

They faced the problem with great courage, and brutal honesty. Few can forget Churchill’s “I have nothing to offer but blood sweat toil and tears” speech. They were leaders and did not play blame games, more appropriate to a school playground than the highest sphere of Euro politics.

Even the power hungry central bankers, politicians and bureaucrats in Brussels know full well the end game is in sight. This is why they are making such desperate efforts to push their views in the media, suppress democratic voices, consolidate power, and seek even more centralized financial and fiscal control.

If they win Sovereign Governments in Europe will become entirely subservient to Brussels. They will fix the laws, the budgets, the taxes, the wealth redistribution, control money supply, interest rates etc.

The last person with similar ambitions was called Adolf Hitler. He failed because he tried to achieve this by military means. With Hitler the enemy was clearly identifiable and the public could be rallied to the very personalized cry of defeating Hitler and the Nazi’s.

How much more difficult to personalize and counter an insidious attack that has been ongoing over many years, by an almost invisible enemy, whose rhetoric is that everything is done for your good, because they know better. Through legislation, regulation, debt creation and many other devices, they have brought Europe to its knees, without a shot being fired?

We are now finally seeing Europeans standing up, and in Greece the fact that Mr. Papandreou, an ultra elitist, has in extremis called a referendum, means even he has realized he cannot rule forever against the will of the people. A similar watershed event is coming in most European countries.

Nothing is more abhorrent to the Brussels elite than the voices of freedom and democracy, and yesterday must have been a day of deep despair for them, as they watch their carefully erected house of cards wobble and start to fall.

Perhaps the final trigger for collapse will be Greece defaulting and leaving the EUR, the PIIGS further crashing their economies to get better haircut  terms, Italy or Spain defaulting for an amount well beyond the capability of an underfunded EFSF, or Germany or equally possible the UK, withdrawing from the Euro zone.

We should thank our politicians for their immensely inept and profoundly dishonest handling of the EFSF.

It has put into stark relief the true motivations of the power elite, their breathtaking self interested arrogance, and awakened in the minds of ordinary citizens the need to stand up and defend their rights, before they are swept away.

Although short term, the impending disintegration in the Euro zone will have a cataclysmic effect on the world as we know it, longer term we will survive and thrive.

We are after all Europeans, even if we are not the version that Brussels would like.