How would you go about solving your personal debt problem if your credit cards were maxed out, your overdraft was over it's limit and your income would not stretch to buying basics after all the interest on your morthgage and loans had been paid.? Go to a loan shark? Of course not, that should be a no brainer even for politcians and bureaucrats. But it is exactly where Europe is heading.
Euro-Lefties have been having a thin time of it recently. Only three per cent of EU citizens live under socialist or socialist-led governments. The European People's Party is the largest bloc in the European Council, as measured by voting weight, second are the European Conservatives and Reformists, who edge ahead of both the Liberals and the Socialists.
That, though, is about to change. France,a nation in which the state consumes 56 per cent of GDP, even more than our own greedy government - monster, and whose budget was last in balance in 1974, has just elected François Hollande who, on a platform of 'growth, not austerity,' (if only achieving it was as easy as saying it) will try to create illusory growth in the economy by borrowing more and more money at ever higher interest rates and giving it away to the lazy, the shiftless and the corporations whose business is built on mining taxpayer's pockets.
Greece, which also voted when France did and now must vote again, is inclining toward a pack of communist parties; the politicians there who talk openly of the need for cuts currently command less than seven per cent in the polls.
Fortunately the parties of Greece's fragmented left hate each other more than they hate the bankers who screwed their country Romania, too, is about to install a Leftist ministry, following the defeat of the last government's austerity platform. As other elections follow around the poor nations of Europe, we can expect more of the same.
The invevitable result of this will be that Europe will return to and intensify all the policies that brought it to its present unhappy condition: loonytoons spending, unsustainable borrowing, obscene levels of taxation, deeper fiscal and political integration integration. Voters, protected from reality for too long by the EU's overgenerous benefits system are in not willing to accept less generous benefits and pensions. They'd rather be told what they want to hear that the money can somehow be got out of the rich.
A politician who admits the truth that the rich, a tiny fraction of the total population, have nothing like enough to pay for all the things that modern governments want to do is liable to have rotten fruit, dead vermin and molotov cocktails thrown at him ... by member of his own party.
Even in the north European countries that still recognise the virtue of financial discipline the Centre-Right parties in government have done little to bring spending under control. All are running deficits that would have been catastrophic a generation ago. But like the other Elepphant In The Room, immigration, nobody wants to talk about it.
For Britain, official Treasury figures show that, contrary to almost universal belief, total public s ending is higher today than it was under Gordon Brown. The left constantly scream abouut the unfairness of the Coatolitions cuts but the Coalition austerity measures have not reduced spending by one penny. All that has been achieved is a lowdown in the rate of acceleration at which we are amassing debt.
The EU is in a downward spiral. The worse things get, the more reluctant its governments are to tackle the underlying problem of excessive expenditure. Lacking any alternative narrative, voters blame the lack of growth on 'cuts', 'bankers' and 'deregulation'. They then support parties committed to even higher spending – which, of course, exacerbates the problem. And, as if national governments were not burdensome enough, Europeans must also contend with more rules and more taxes and a headlomg dash towards fascism from Brussels.
The E U is insance and growing more psychotic by the minute. We must get out. Ignore those wimps who say it is impossible; unless you want to live under a system of oligarchic collectiveism (see George Orwell's 1984) we simply cannot allow it to be impossible. FFS we stood up to Hitler's Wehrmacht, have we become so weak we are prepared to let a bunch of penpushers in Brussels destroy our nation?
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Eurogeddon, the Euro zone debt crisis
Death of the Eurozone
Europe becoming a bureaucratic empire
Sacrificing the future to save the Euro
Europe: Death of democracy
more on the Debt Crisis