Europe’s Transformation is Underway
It’s often a little dizzying to try to decipher the details of
Europe’s attempts to survive the
euro crisis. But the outcome of the emergency meeting just
concluded in Brussels is fairly straightforward.
Germany and France wanted the members of the EU to agree to central control
of financial regulations, and what a surprise,
Britain’s David Cameron said “no”.
Spiegel Online highlights how British Prime Minister David Cameron
angered the rest of Europe by refusing to subjugate Britain’s financial sector
to the EU, even in the depths of the current crisis. From Spiegel, “Cameron’s
use of his veto has provided for much discontent within the European Parliament.
‘It was a mistake to admit the British into the European Union,’ said
Alexander Graf Lambsdorf, a prominent German MEP…’” He goes on to suggest
that unless the UK renegotiates its relationship, “the
EU will be founded anew – without Great Britain” (emphasis
added). Something like that now looks increasingly likely. Crisis meetings involving Europe’s top leaders have become
routine news amid ongoing attempts to salvage the
euro, and for that matter the European Union. We’ve heard talk of
a
two-stage Europe with
some members of the EU abandoning the euro and a smaller core of
nations anchored by
the leadership of Germany and France going forward as a political and
economic unit. Language describing the high level meeting that took place just
last night could hardly be more melodramatic. A
BBC
headline blared,
Euro Crisis Summit: The Night Europe Changed. It tells of
a dramatic move to “closer integration”, not as a result of majority sentiment,
but borne out of crisis. “…Europe’s leaders believed their project (the
euro and the EU) had ‘never been in such danger’”. “Last
night most of Europe’s governments gave up a chunk of their sovereignty”.
But Britain did not. British Prime Minister David Cameron
refused to agree to the demands of Germany and France that would have given the
EU power over financial regulations in Britain. “If
there was to be a treaty change, the Prime Minister (Cameron)
wanted exemptions from some financial regulations but Germany and France would
not budge.” Reading on, it becomes clear that
Europe’s governments agreed to the new arrangement on an “inter-governmental”
basis, and not through any changes to EU treaties already in existence as
that would have required “extensive ratification” and referendum votes in
several nations, notably Britain. As if further evidence was needed showing that Britain will
remain on the sidelines of Europe’s next phase the report says, “For
the UK this marks a fundamental change in its relationship with Europe. Never
has the UK been so on the margins.” Indications are that Britain is likely
to have to hold a referendum vote as to whether they remain attached to the EU.
So far, Prime Minister David Cameron has stifled calls for a referendum,
knowing that
British sentiment is to pull out. For that matter, polls show that the
German people are not enamored with the idea that it will fall their lot to
back more bailout loans for their undisciplined neighbors. This, along with
other factors may well lead to political changes inside Germany. It undoubtedly
accounts for the careful approach taken by
Chancellor Angela Merkel, to the dismay of EU members rattled by the
enormity of the threat to the euro. The BBC’s dramatic assessment of the situation hints at
dangers of not just economic collapse, but of political upheaval as well. “For
the European people, they are in a closer Europe than they ever voted for.
But
Jean Monnet, one of the founders of the EU, said Europe would be forged in a
crisis. It has been proved so yet again.” Garner Ted Armstrong said that Europe’s eventual configuration would likely come about as the result of economic crisis, and that Great Britain (based on Bible prophecy) would not be a part of it. As these fluid events play out in the international headlines, it is apparent that he knew exactly what he was talking about. In summation, the articles referenced above and others like them
show that no specific measures were taken
that would provide bailouts or additional low interest loans to the worst of the
debtors. In other words the euro crisis has not been mitigated
much less solved. It was instead the undertaking of an “inter-governmental”
agreement which gives the EU (led
by Germany and France) economic authority over member nations’
internal finances. Apart from Britain all EU member states have signed on
except Sweden, Hungary and the Czech Republic.
Those three countries will not give up further sovereignty without their
parliaments approval. [Breaking
story:
Hungry may adopt new EU deal] Important as this is in the grand scheme of current events, chances are it will get scant attention on the nightly news. We’ll do our best to keep up with developments and apprise our readers of the historic changes underway, particularly those of prophetic importance.
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The Garner Ted Armstrong
Evangelistic Association
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