It appears, just as we warned, that Brexit was indeed the first of
many dominoes. Even before the Brexit
result, a poll by Ipsos Mori showed that the majority of people
in France and Italy want to at least have a referendum on leaving:
In Italy, 58%
wanted a referendum and 48% would vote to leave the EU. In France, 55% want a vote and 42% would
leave. In Sweden, 42% want a vote and 40% would leave. In Belgium, 45% want a
vote and 30% would leave. In Poland, 42% want a vote and 25% would leave. In
Germany, 40% want a vote and 35% would leave. In Spain 40% want a vote and 30%
would leave. In Hungary, 38% want a vote and 30% would leave.
Meanwhile, over
40% of Swedes, Poles, and Belgians are in the same boat.
But now, as Martin Armstrong
notes, Brussels simply went too far. They cross the
line moving from an economic union to a political subordination of Europe. Now eight more countries want to hold
referendums to exit the EU – France, Holland, Italy, Austria, Finland, Hungary,
Portugal, and Slovakia all could leave.
With Hollande's
approval rating at about 11%, and Merkel lucky she is not tarred &
feathered, the Front National leader Marine Le Pen has pledged to hold a
French referendum. Hollande rejected Le
Pen's call for a refendum today during their meeting; prompting the
following from the leader of France's far-right National Front party: "We will see at the presidential election (next year) which candidates
commit to organize a referendum.
You know I am one of those because for the past four years now I've
said that six months after being
elected, I would organize a referendum on the exit (of France) from the
European Union, and that I would use these six months to negotiate with
the European Union its transformation into a Europe of the nations, giving back to the French people four
essential elements from its sovereignty: territorial, economic,
monetary-budgetary and legislative."
Therefore, if LePen emerges victorious in next year’s
presidential elections, that means the next major player in the EU after
Germany is out and there goes the EU.
This entire civil uprising in Europe is underway ever since two months
ago when Dutch voters overwhelmingly rejected a Ukraine-European Union treaty. Angela Merkel’s Germany now faces
having to pay an extra 3 billion euros a year to the annual EU budget once
Britain leaves.
This alone is
prompting German government officials to propose that Britain is offered “constructive exit negotiations” to
keep their dues coming in. Some are now talking about a quasi-membership for
the UK calling it an “associated partner country” to keep the money
flowing.
Yet the French government of Hollande just does not understand. The governor of the French central bank
will exert pressure on UK banks. They are taking the view that it would be
paradoxical if Britain could retain privileges after the withdrawal from the
EU. First Banks are preparing apparently preparing to shift part of its
employees in London to the continent. They obviously fail to grasp that it is
European continental banks that are on the brink of collapse – not British.
Italian ministers warned on Saturday that the European
Union MUST change course or risk total collapse after Britain’s
vote to leave the bloc. The Italian Finance Minister Pier Carlo
Padoan said. “A double reaction to Brexit is under way, one financial, one
political. The financial one, at least until now, is limited. I am more worried
about the political one.”
Indeed, the unthinkable is happening. And they worry the pound might crash?
Pay attention to the euro.
Furthermore,
Portugal, with all eyes on Spanish elections, has made a clear threat to The EU
(via WSJ)...
A key ally to Portugal’s
Socialist government said the country should consider holding a referendum on
the European Union membership if the EU decides to impose sanctions over last
year’s missed budget target.
While Portugal’s Socialist party is deeply pro-EU and calling a
referendum would be highly unlikely, Left Bloc’s move puts pressure on the
government and Prime Minister António Costa, as well as the European
Commission, which is awaiting Spain’s election results to decide whether both
countries should be sanctioned after their deficits ended above a 3% of gross
domestic product threshold.
While the Communists are openly anti-EU, the Left Bloc has said the EU
must change, but not necessarily dissolve.
“If the European Commission undertakes the
grave measure to apply sanctions on Portugal...the European Commission declares
war against Portugal,” Left Bloc leader Catarina
Martins said on Sunday.
In other words,
if The EU dares to pressure Portugal over its fiscal excess, then Portugal will
leave. And finally, for now,
as if to reinforce the fears of EU dissolution, Slovakia's far-right People's Party launched a petition for a referendum
on the country's future in the EU.
"Citizens of Great Britain have decided to refuse the diktat from
Brussels. It is high time for Slovakia
to leave the sinking European 'Titanic' as well," the party said.
Meanwhile, as Armstrong
concludes, another critic
of the EU has been the leader of Poland’s ruling party. Poland’s Foreign Minister Witold Waszczykowski also now
responded and said that the UK referendum result shows the need for reform of
the EU. “This
is bad news for Europe, for Poland.
This is a great dilemma for the eurocrats, we
all want to keep the EU, the question is in what shape.” He continued: “We will be trying
to use this situation to make the
European politicians aware why this happened. And it happened because
this concept, which was created some time ago, is no longer popular in
Europe.”
Then again,
the Hungarian Prime Minister
Viktor Orbán intends to campaign in the British press for the UK to remain in
the EU, according to a Hungarian government spokesman. Orbán is clearly one of those who is out of
touch with the people and fails to understand that a federalized Europe is not
going down very well with the people. He is extremely arrogant to think
that he has any right to intervene or suggest that the vote be ignored.
To add insult
to injury, Turkey proclaims
the “Crusader union falls apart” demonstrating that memories in Europe go
back centuries. The United States people did not want to enter World War
II. Roosevelt even traveled to Boston promising that American boys would never
defend Europe. Boston was a very Irish community and they were upset at being
asked to defend Britain after their migration to the USA because of Britain. Old wounds never
quite die.
As Doug Noland
warns, European
integration is again under existential threat. And while disintegration will likely unfold over the coming years, a
crisis of confidence in the markets could erupt at any point.
Confidence in Europe’s banks is faltering
badly. I believe faith in the ECB’s capacity to hold the banks and securities
markets together is waning.
Comments
The EU
overreached and deserves to fold. Their mistake was to introduce UN Agenda 21
implementation and stealing the sovereignty of member countries. They should
not have assumed the role of the ruling European legislature, but they wanted
the fees from the member countries.
The
companies liked having a trade block. The citizens liked open border access for
jobs and travel. They all liked the Euro. The EU could have established a visa
ID card to allow jobs and travel to allow countries to keep track of who was in
their country and control their own borders.
The
problems arose with Greece and others defaulting on their debts and its effect
on the Euro. As the global warming hoax
was exposed, citizens demanded a stop to wind and solar costs appearing on
their electric bills. The citizens suffered the down-side of the EU fees and
rules. The political correctness imposed
nanny-state policies were a bit much and finally, the Muslim refugee program
was the last straw.
Norb
Leahy, Dunwoody GA Tea Party Leader
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