EU – Organization Displacing Sovereignty and Exacerbating Economic Crisis

May 6, 2017

By Padmini Arhant

European Union came into existence with objectives not necessarily designed to promote growth and development even though touted as such to attract membership.

EU since inception in 1993 headed by representatives identified more with concept of alienation rather than unification evident in the policy implemented to benefit the selective few and privileged reining control over the system.

EU emergence followed by introduction of euro as a common currency largely benefiting the developed and dominant industrialized member than others in the union has been ineffective in addressing the serious economic crisis until today within euro zone and EU respectively.

The hardline approach to contain economic meltdown with austerity as antidote for fiscal responsibility in the absence of stimulus arguably weakened economy and escalated unemployment as well as poverty among vulnerable segments in society.

The measure is analogous to ailing patient administered with strong dosage of medication and treatment without any supplements for revival.

The euro claiming to serve members within euro zone created superficial buffer to exploit trade opportunities for industrialized, fragile and fledgling economies pegging local currency fluctuations to common trading unit.

The results have not been favorable for modest and struggling economies within EU competing with major partners forced into accepting terms and conditions suitable to keep euro afloat in contradiction to reality.

Whenever artificial mechanisms are in place in deviation from practical course, the bubble burst effects are far greater  in economic activities witnessed in recent memory. The euro zone members like Cyprus and Greece succumbed to extreme demands to prevent expulsion and in return surrendered sovereign assets in the deal with financial institutions viz. ECB, IMF and EC run EU.

EU economic platform poised as Europeanism essentially facilitates bankers control on monetary policy directly impeding trade prospects.  The debt bondage lasting generations in the repayment of debts and borrowings not subject to fair and transparent scrutiny with aggressive methods to secure collateral on euro zone and EU members state owned resources is yet another factor stifling economic recovery.

The model in disguise protects the interests of those profiteering from subjugated economies within EU.

Although protectionism is distorted in definition and application synonymous with democracy in politics, the global elites’ goals in preserving their exclusive rights to extraordinary gains regardless of economic pattern and shifting market dynamics not recognized as such in the secluded economic prosperity.

Accordingly, their choices in political representations in Europe and worldwide are those conforming to establishment and elitists personal enrichment over population progress.

In terms of EU status enabling free flow of goods and services including EU citizens’ ability to travel and work in EU region apparently not a big advantage for feeble economies trading on single currency euro with exceeding trade deficits.

The rising inflation and lower productivity in addition to local problems varying from employment conditions to public and private sector regulations requiring adjustments to EU protocol exacerbate economic woes that could be mitigated in normal statehood.

Similarly, the workforce is susceptible to layoffs with business preference to operate in EU territory hiring labor at reduced costs to increase competitiveness in the otherwise expensive European environment.

EU position on immigration and security is paradoxical considering EU coordination with United States in destabilizing sovereign nations whether Ukraine in Eastern Europe or Syria in the Middle East creating ISIS, ISIL and so on with EU decision to lift ban on weapons supply to terror networks in 2011, 2012 and later generated the refugee crisis at EU doorstep not to mention the terror attacks experienced in France and other parts of Western Europe.

EU governance overrides autonomy in the implementation of economic, political and humanitarian policies aimed at enhancing vested interests with little or no concern for adverse impact on citizens in Europe and EU intervention elsewhere.

The notion that EU provides economic and political stability is propagation to corral members in maintaining status quo with economies constricted to limited performance and EU strategy expanding the role and dominance as parallel government displacing EU member states sovereignty remains the fact.

EU overseers are the beneficiaries capitalizing on Eurocentric sentiments leaving the population more divided in the stagnant economy with simultaneous exodus and influx changing geopolitical landscape.

Any nations independence is solemn upon governance committed to defending sovereignty, territorial integrity and freedom of all citizens in the country.

Peace to all!

Thank you.

Padmini Arhant

Author & Presenter PadminiArhant.com

Spouse in Divine Mission

Written by Padmini Arhant · Filed Under Featured, International Politics 

Comments

Got something to say?

You must be logged in to post a comment.