Global Security Headlines

Sunday, May 8, 2011

Eurozone nearing end?

Charlemagne, the medieval Frankish king, is credited as the first uniter of Europe.

Napoleon and later Hitler also tried by force to forge one Europe united under one man. In the end, the tyrants went down to defeat.

The dream was resurrected by the peaceful Treaty of Rome of 1957, the beginnings of the European Union (EU) today.

The EU went on to embellish statism as its chief economic system.

There is the root cause for the EU's angst.

Sooner than later, money tends to dry up from overregulation, numerous onerous taxes, nanny-state interference in every aspect of life, and the disincentives built into the economy that reward sloth, not hard work.

EU Pain
The rapid expansion of Europe from the Urals to the Atlantic did not come without a price.

Despite the haunting past, the European elite pressed forward with their idea of a common European market, and a common European currency in an attempt to forge a faux European identity.

The north-south split it appears in the end trumps the east-west division in the EU.

Namely, Greece, Portugal, and Spain threaten to shred the EU false construction from papier-mache. The fragile southern economies as feared are a drag on the richer northern economies of France and Germany, and to a certain extent, the United Kingdom (not in the European Monetary Union).

All eyes on Greece
Rumors of Greece's exit from the EU scheme drubbed the euro and forced a hasty meeting of EU ministers in Luxembourg last Friday to discuss restructuring Athen's debt.

Should Greece drop the euro, like a pebble in water, it would ripple from the Adriatic to the Atlantic. The eurozone house of cards would likely collapse.

But, is there enough money and willpower left in the EU to prop up Athens?

Will EU taxpayers happily pony up to save the united Europe dream of which they were barely consulted?

Or (more likely) are the days numbered for the EU as we currently know it? Charlemagne would not be proud.

***If you need research from open sources in Spanish, French, or Portuguese and presented in a stylish English language report or a translation of documents in said languages to English, please contact Professor Winn at by sending an email to for a prompt evaluation.

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