Monday, July 20, 2015

The Call For Federalization of Europe Is No Solution

News
What threatens us is not an excess of Europe but its insufficiency.

French President Francois Hollande has called for the creation of a eurozone government, a complete socialistic State for EU member states to renew their faith in the European project weakened by the Greek crisis that is by no means overs. Hollande proposed "a government of the eurozone (with) a specific budget as well as a parliament to ensure its democratic control".

I don't know whether Europeans should be laughing or crying over these comments. Hollande, a hardline socialist that believes in centralized control despite that fact that business cycle cannot be managed, has no problem envisioning more power to the State with each crisis. Unfortunately, federalization of Europe has already been tried and failed. Europeans view Feudalism, Monarchies, and most other governing bodies that forbid representation through the voting process as unacceptable; American also share this view. Hollande argues that Greek crisis, a function of control rather than design, stems from the lack of federalization within Europe; the inability of the Trioka to do as they please without the shackles of accountability to the people. Hollande's solution to the Greek/Euro crisis would be the acceptance of government principles thoroughly rejected by Europeans and their descendents has Thomas Jefferson rolling over in his grave.

The illusion of socialism is sending Detroit, Greece, Puerto Rico, and Rome either into or towards bankruptcy, yet we still listen to their solutions? The invisible hand's strong voice, market force pushing the Euro towards collapse, will force different actors (and solutions) to the center stage soon.

Headline: Hollande calls for the creation of a euro zone government

PARIS (Reuters) - French President Francois Hollande called on Sunday for the creation of a euro zone government and for citizens to renew their faith in the European project, which has been weakened by the Greek crisis.

Reviving an idea originally put forward by former European Commission chief Jacques Delors, Hollande proposed "a government of the euro zone (with) a specific budget as well as a parliament to ensure its democratic control".


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