The Great European Bird, shedding it's feathers.
The European Union today stands at a position no one would have ever imagined. Today the whole purpose of that Union stands defeated. The English seem too happy with their decision to stay out of this Union but they themselves are in such a crisis (both politically and economically) that they don't have time to deal with all of this. With internal clashes within the United Kingdom is making is weaker day by day and the United Kingdom is not even a part of the EU.
With the greatest economies falling into a debt trap the world is facing a whole new crisis. Starting from Iceland and Liechtenstein, moving onto Greece and now we stand with Spain and Italy going down. The European economies have been trying to get Greece out of its crisis situation for quite a while but now everything seems futile because while all of this is going on on the economic front, on the political front the leaders of major countries are changing. With Sarkozy losing to Hollande the French now have a new leader to their great nation. Hollande himself was involved in some scandals and was somehow not even thought of as a potential candidate before Dominique Strauss Kahn's sex scandal but after that the tables turned and now 'Mr. Normal' is going to be heading the French into their future.
Due to this election a lot of problems have come up. Angela Merkel, the chancellor of Germany who hadn't been much supportive to Sarkozy (Or anyone else in Europe) while discussing the Financial stimulus pact was actually supporting Sarkozy in his campaign. Towards the end, after all those endless meetings where British Prime Minister and the French President were seen holding their heads down, the European Union (Or only Mrs. Angela Merkel) was coming to a consensus. But suddenly the French elect 'Mr. Normal' as their president.
Due to this Mrs. Merkel has closed all doors of negotiations and is planning to stick to her own stand without much flexibility which earlier Sarkozy was helping to fetch. Mrs. Merkel was supporting Sarkozy's campaign and she now doesn't really like the 'Mr. Normal'. Adding to this, a similar stance has been taken by the British Prime Minister where he has been saying that he has the Olympics on his head and a lot needs to be done for that and their will to make it better than China (doubtful). Still, Mrs. Merkel in her latest interview said that she might entertain some points. Let's see how well that goes.
The only countries which can save the European Union are these three, with 'Mr. Normal' not having a good rapport with Mrs. Merkel and David Cameron, circumstances do not look so well. Now, during all of this is going on there is more to follow upto this. In Germany the preliminary elections are going on and Mrs. Merkel's party losing a big constituency, Merkel's future seems a little bleak. The Germans are correct on their part. They all have a common point, 'Why should we pay for others mistakes?'. The Germans have worked day and night to build themselves up from the ashes of the World War II and now they are the only hope to all of the other European Nations. Because of this reason Merkel wasn't so keen on sending a stimulus package initially.
The latest solution which has come up suggests saying goodbye to Greece and leaving it into its dumps (because of the obvious reasons of its immense debt) and moving on and simultaneously Greece is now planning to go left, which would again lead to a huge change in policies. Filippos Sachinidis feels even more paralyzed now due to the new developments and the IMF too stands still. So, now the great European Union has started shedding it's wings. The with which everyone wanted to fly is now shedding some load. With Merkel losing ground in Germany and Cameron being sunder immense pressure, the whole of Europe is either going to fall or going to fall in the hands of absolutely new leaders.
Photo:Greek finance minister Filippos Sachinidis (R) awaits the start of the meeting of euro finance ministers at the EU Council in Brussels. Photograph: Francois Lenoir/Reuters