The Euro Now Heralds Poverty And Deflation: Collapse Of The Eu

The Maastricht treaty was supposed to be like a beacon and creation of an economic power house that would match the USA. Unfortunately down the line the EU has achieved precious little and as things stand the EU is on the verge of a break up. The promised affluence has not materialized and in contrast the smaller economies have sunk under the burden of debt with the only winner being Germany.

The writing is on the wall, 3 Portuguese banks had to be bailed out on 8 Jun 2012 and Cyprus is on the verge of bankruptcy. Greece is unable

to service its debt and there is a run on the banks. The important point to note is that retail sales across the Euro zone have gone down drastically as the purchasing power of the Euro has declined.

 What has Maastricht achieved? Frankly the common man feels that he was better off without the Euro and a single currency. Countries on the edge of Europe are suffering the most. They are heading towards deflation, poverty and worse immigration. At the core is unprecedented tax raises to

shore up the economy. It’s a mess all around.

At this moment its worth remembering the Iron lady Margret Thatcher who two and a half decades back had forecast this . Some times great peoples words are forgotten and many at that time felt the lady was talking all crap.

The EU is just about showcasing German power. They now dominate Europe. France is a poor partner and most other nations owe colossal sums to German banks. No wonder the Germans are terrified of a break up of the REU as they will not be able to get their money back. So the German Chancellor plays on the fear of the smaller nations of another war and that going backwards and dismantling the EU is worse than going forward.

The fact is Europe as a power is finished. Its economy is down and bereft of colonies they don’t know what to do. The wheel of History cannot be stopped and the rise of China and India is imminent.

Article Written By Madan G Singh

An early retired Gp Capt from Air Force who is an Executive Director in the Corporate world. Loves to write fiction and articles. Published over 60 short stories and his novel" Romance of the Frontier" is published from Notion Books.His second novel is on way for publication. The author also has close to 10,000 articles on the b net with millions of views

Last updated on 22-07-2016 34 0

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