It seems that the Euro project has been saved for the present.
The bankers will get their rewards and the taxpayers of Germany and other European countries will pay the price of their bonuses, even including Britain although we are not part of that scam.
The Euro project can never work however many Billions (trillions?) are thrown at it without causing poverty among millions of people through no fault of their own.
I am not talking now of how all this money is created out of thin air and interest charged on it by the banks.
I am talking about simple geographical facts.
When I was at school unlike now we were taught Geography as a scientific discipline, uncorrupted by PC influences.
We were taught the reasons why cetrtain regions specialised in certain industries and created their prosperity thereby.
Thus in my region it was "King coal and King cotton which created the wealth (the profits unfortunately leaving our area for the great maw of London), but it did provide employment and in doing so made Britain as a whole wealthy.
But this was just one of many regions specialising on and taking advantage of their strengths and the whole taken together made a successful country.
This is the weakness of the EU. It seeks to lump all countries together with a common tax and political system which prevents local areas all over Europe exploiting their relative advantages.
It is no surprise that the countries (the PIGS) are at the priphery of this union.
Why are they unable to compete with the Northern European countries in this union?
The answer is simple. Geography. These countries are distant from the centres of power and thus unable to compete. It is not a level playing field.
Imagine a firm wanting to start a factory. Will they open it in Greece, Southern Italy or in North West England in paces such as Blackpool or Workington?
Very unlikely as the transport costs would make them uncompetitive so the new factory will be built in North Germany, the Low Countries, North France or South East England, all near to the hub of the EU.
The common rules on tax and economics preclude these regions from taking measures to negate this disadvantage.
To survive the more peripheral regions must exploit any comparative advantage they may have and if these advantages are few create them.
The Isle of man for instance has a benign tax system which counters its severe transport disadvantage.
Greece has its sun as does Southern Italy, Spain and Portugal. We in the North of England have our fishing (and still plenty of coal and probably gas) if the European fisheries policy were rescinded.
We have a great port Liverpool the nearest to the Americas which if we had a decent transport system could be revitalised, and industries could be encouraged to produce easily exportable goods for the Americas markets with suitable tax breaks. We have the engineering expertise (as yet) and it could be done.
Even shipbuilding could be resurrected with the right will and conditions. Finland, the only prosperous periphjeral EU country has a thriving shipbuilding industry in a harsh climate.
If they can do it so can we.
Why don't we do it?
Because everything European is geared to the centre of the Union for political and financial reasons and this is why even if it does not suffer financial collapse the peripheral regions will always be poorer.
The "experts" will at some time have to consider whether they want a rich crowded centre surrounded by relative poverty and empty areas or will they come to their senses and see it is unworkable.
Many of the bankers and Eurocrats will of course taken their ill gotten gains elsewhere but we, the people of Europe will face strife, disorder and possibly violent revolution because of this injustice.
The Euro project was supposed in part as a method of ensuring peace and stability but as I think I have shown, the contradictions caused by a unified set of rules for very different regions are a recipe for trouble.
The next conflict will not be between nations fortunately but between the united impoverished peoples of the peripheral regions against those who have betrayed and stolen from them.
This institution, supposedly an antidote for war but beset by unresolvable stresses will be the cause of civil war when the money runs out.
I have not even started on the imposition of millions of unwanted aliens in our midst BUT--
It will demonstrate THE LAW OF UNINTENDED CONSEQUENCES and
GOD HELP EUROPE.
