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
Awesome write-up for describing the on-going eurozone crisis in least words.
ReplyDeletekeep u the work, bud :)
Thank You. :)
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