Bilderberg Merkel Says Euro Members Must Be Prepared To Cede Sovereignty

Merkel says euro members must be prepared to cede sovereignty (Reuters, April, 22, 2013):

German Chancellor Angela Merkel said on Monday that euro zone members must be prepared to cede control over certain policy domains to European institutions if the bloc is truly to overcome its debt crisis and win back foreign investors.

Speaking at an event hosted by Deutsche Bank in Berlin alongside Polish Prime Minister Donald Tusk, Merkel also defended her approach to the crisis against critics who argue she has put too much emphasis on austerity, saying Europe must find a way to deliver both growth and solid finances.

The comments came two months before European leaders are due to gather in Brussels to discuss moving towards a so-called “fiscal union”.

Expectations are low, in part because an easing of the crisis has reduced pressure on leaders to produce a big leap forward in integration, but also due to differences between Germany and its partners, notably France, over the next steps.

“We seem to find common solutions when we are staring over the abyss,” Merkel said. “But as soon as the pressure eases, people say they want to go their own way.

“We need to be ready to accept that Europe has the last word in certain areas. Otherwise we won’t be able to continue to build Europe,” she added.

Tusk said it would be “dangerous” if other countries in Europe felt Germany was imposing its own economic model across the entire bloc.

But Merkel denied that, saying Europe was made up of different cultures and economies with different strengths. The key she said, was for Europe to orient itself towards best practices.

That meant Germany accepting a single market for services, a common labour market and more compatible social security systems, so that Europeans could move from one state to the other without worrying about their pensions.

“We don’t always need to give up national practices but we need to be compatible,” Merkel said. “It is chaos right now.”

“We need to be prepared to break with the past in order to leap forward. I’m ready to do this,” she said.

Introducing Merkel and Tusk, Deutsche Bank co-CEO Anshu Jain praised the German leader and the European Central Bank for their efforts to calm the crisis.

“Now, as I travel through Europe and the U.S., even the most sceptical investors recognise that the future of the euro zone is no longer under serious threat. And that is a very good thing,” Jain said.

But Tusk acknowledged that the crisis had taken its toll on public opinion in Poland, where he said a majority of the population had doubts about adopting the euro.

1 thought on “Bilderberg Merkel Says Euro Members Must Be Prepared To Cede Sovereignty

  1. I was reading this story on UK Guardian yesterday, and it never fails to amaze me how the Germans seek to dominate. This time, they thought they would do it like the British Empire did in it’s glory days, through economic. What they were not prepared for was the fact every nation in the Eurozone (and out) practices Enron accounting, and have far less wealth then they pretend. When the Euro started going south in 2007-08 thanks to corrupt Wall Street practices, and Moody’s who exported Enron Accounting to the world, the truth started coming to light. At first, Germany thought they could turn the disaster into opportunity for Euro dominance…………..
    I watched the Enron debacle very closely, and paid close heed to how their accounting practices worked. I had a good job at the time, but actually taped the congressional hearings, and read the WSJ and NYTs on a daily basis, following it closely.
    For those who didn’t, here is a fast and easy refresher: Enron would take a debt of $100 million, and move it off their books onto the books of a shell corporation. They would list the debt as an asset of the shell. Then, they would have the shell give them huge contracts that were all fake. They not only made their bottom line look strong, but invincible, until the market went south, and it became obvious very quickly they were truly spinning straw into gold……..and it vanished overnight. They did this with so many shell companies……….the numbers were mind boggling.
    Germany can say what they like. At the rate the world economy is contracting, they are likely to find themselves in over their heads very soon.
    World Annual GDP supposedly varies between $50-65 trillion. When the real truth comes out, it will show much less. It is all smoke, mirrors and bubbles. I am amazed it has gone on this long, and it will probably lumber on for a while longer. I don’t know how, but they keep the balls juggling in the air.

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