Tensions within the eurozone over how to resolve the debt crisis are turning countries against each other and threatening to rip Europe apart, Italian Prime Minister Mario Monti has warned.
Resentment in Italy is growing against Germany, the European Union and even German chancellor Angela Merkel herself, he said, adding that “the pressures already bear the traits of a psychological break-up of Europe”.
Mr Monti told German news magazine Der Spiegel that he was “concerned” about the deepening divisions and said governments “must work hard to contain it”. His words were released as Greece pledged further economic reforms to avert bankruptcy at a meeting with the bail-out “troika” of the European Commission, European Central Bank and International Monetary Fund.
After Sunday’s meeting, the troika said: “There was an overall agreement on the need to strengthen policy efforts.” Last week, Greek prime minister Antonis Samaras secured cross-party support for a further €11.5bn (£9.11bn) of cuts in 2013 and 2014 to keep the €130bn of international rescue funds flowing. The details must be agreed by early September if Greece is to receive its next bail-out tranche.
The divisions within Europe were laid out in the weekend’s German press, where German regional finance minister, Markus Soeder, said that aid to Greece should be stopped. “When a country like Greece on a continuing basis cannot pay back debts, it must leave the eurozone,” he said. “Greece should quit by the end of the year.”
Some of the comments after the article are priceless ...
COMMENT: This is the first of many repositionings these cowardly, incompetent, selfish and manipulative politicians will make. Each will try to lob blame at the other to avoid what should be the just conclusion.
Nearly all the EU politicians were bought by the reflux of national wealth through the EU which then used these massive funds to manipulate and control national politicians to sell their electorates down the river. This will be the first in a nasty series of squirming attempts to avoid responsibility from politicians who have prostituted themeselves for selfish gain.
This is a very nasty scene. Then, again, what else can it be coming from people who have all but wrecked decent democratic systems for the purposes of career advancement and personal enrichment?
COMMENT:----- ----- ----- -----"Tensions within the eurozone over how to resolve the debt crisis are turning countries against each other and threatening to rip Europe apart"
There was never any doubt that this would be an inevitable outcome. It had to happen. There are two completely opposite and incompatible mindsets within the Eurozone: (1) the prudent, frugal, and hard-working Northerners; versus (2) the imprudent, improvident, and lax Latin Club Med nations.
Moreover, with the results from the most recent summit, we now know that there are two completely opposite types of psychologies amongst the EUROCRATS: (1) the honest, loyal, and honorable variety; versus (2) the dishonest, ambushing, and blackmailing variety.
Anyone who's been in a dysfunctional marriage where you have one loyal, honest, hardworking, and prudent spouse, versus the other spouse who is cheating, scamming, imprudent, lazy, disloyal, blackmailing, and backstabbing ... you know what the ultimate result will be: DIVORCE.
There is no question that the Eurozone will end in a bitter, ugly DIVORCE, where the PIIGS end up never paying back the hundreds of billions they've borrowed from the Northerners.
This will get very ugly ... and it will conclude in a vicious DIVORCE. There's no question about it. The Germans should cut their losses and file for DIVORCE now.
COMMENT: The answer is simple Mr Monti, break up the Euro Zone before it breaks up Europe, of course you don't want to hear that so you will continue down the road of destruction. Spain is already pressuring Eastern Europeans to leave the country and no doubt this will accelerate and be taken up by other countries whose finances have reached breaking point.
COMMENT: For some reason, the DT completely missed the second main part of Montis statements, which was that he urged the European governments not to act feeling bound to much to their respective parliaments!
He was actually suggesting the government should sort of overrule the parliament and in Germanys case he seems to have the Constitutional Court in mind as well.
So according to Monti, the Euro can only be saved, if governments stick to undemocratic behaviour, which for the North means to FORCE its own electorate to (forever) fund Club Med hence effectively ending democracy itself.
Quite naturally this provoked opposition amongst German politicians, with one of them stating "Germany will not abandon its democracy just in order to fund Italian debt".
COMMENT: Very surprised that Mr Aldrick does not mention an other statement by Mario Monti during that interview which has caused real anger in Germany. During the interview Monti stated: "If Governments let themselves be fully bound by the decisions of their parliaments, without preserving any room for negotiation, the break-up of Europe would be more likely than closer integration."
So a technocrat PM, hoisted to power by an EU putsch in his own country is asking for the suspension of democracy and the rule of law in all other euro countries also. The final choice according to Monti: demcocracy or the euro.
COMMENT: A Union which works only in good times is superficial, false, badly constructed and dangerous.
This characterises the EU and the Eurozone because both were set up with no democratic mandate to satisfy the obscene political vanity of a few politicians who were immeresed in the past and misinterpreted the consequences of history.
Both will fail as these artificial constructions always do.
COMMENT: The Euro was a foolish, ill-conceived experiment that failed. Break up this nonsense now, or the markets will break it up for you. Even the "Father of Euro" Jacques Delors conceded here in the "Telegraph" a few months ago that the Euro is now doomed because the politicians have violated the rules that his EU Commission had laid down.
I`m sure they`ll come up with a plan to "SAVE THE EURO" this week, like they did last week, the week before that and the week before that and so on and so forth...
The sooner the better..."Debt crisis threatens to break up Europe"
Seeing the end of the eu would make me incredibly happy.