Thursday 8 September 2011

The EU Empire Is Born.

http://www.express.co.uk/posts/view/269455/A-federal-Europe-is-now-inevitable-



ALL the eurozone nations will be forced into a single federal government to avoid future economic meltdowns, Europe’s finance chief said yesterday.


Jean-Claude Trichet, president of the European Central Bank, predicted that Germany, France and the 15 other single currency nations will have little choice but to merge into a single political unit.

“I think that one day the European people will have a confederation,” Trichet told a conference in Paris.

“If a country doesn’t take or is incapable of taking the required decisions, it should be possible to take them from the centre of the single currency.

“One can imagine a federal government.”

In chilling news, he also warned that the eurozone’s economic crisis is deepening.

His remarks will fuel talk that the EU is splitting in two, with a unified eurozone and an outer track including non-euro countries like Britain.


I think that one day the European people will have a confederation
Jean-Claude Trichet, president of the European Central Bank


Investors across Europe were spooked yesterday by a combination of fears over the state of the global economy and Europe's debt crisis, sending stock markets plunging by up to 4%.


They recovered some ground in early trading today, but soon fell again with only London's FTSE 100 closing in positive territory - as bargain hunters sought value in depressed UK stocks.

The FTSE closed up 1.15% at 5,161.43, but the mood was more downbeat on the continent. The Dax in Frankfurt closed down 0.9% at 5,199.09 and the Cac 40 in Paris was down 0.96% at 2970.76.


Analysts say share prices across Europe will continue to be turbulent in the coming days as investors fret further over the debts of Greece and Italy.









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