The list of countries that are enslaved by the Euro-regime crisis is increasingly growing and the entire European Union, as a result, looks like a wooden house slowly chipped away by termite ants who will eventually bring down the entire structure – and Serbia is lucky that the EU, last week, declined to offer Serbia membership date.
That it is so attests yesterday’s report by the European Commission that has detected substantial financial risks in 11 EU member countries in addition to the ones already in crisis!
So, besides the already crisis-stricken Ireland, Italy, Spain, Greece, Portugal and Cyprus, the Commission warns that Slovenia is on the way towards bankruptcy and the “commission detected less severe imbalances in 11 other countries: euro members Belgium, Finland, France, Italy, Malta and the Netherlands, as well as euro outsiders Bulgaria, Denmark, Hungary, Sweden and Britain,” reports Bloomberg.
This is a rather impressive list! So much so that the only place where there is no crisis is in Germany.
Now, if Euro does not work for everybody but one than it is rather hard to claim that Euro is a good thing and that membership in the European Union has any benefits – because if it was so the list of countries in crisis would shrink instead of enlarge and the EU would have some sort of a remedy for their ailments.
Not only does EU have no growth policy but instead, to square the irony, the EU has issued a threat of punishment to all of these stricken by the financial malaise.
“Both countries [Slovenia & Spain] were given a May 29 deadline to make reforms or risk becoming the first to be punished under a year-old ‘macroeconomic imbalances procedure’ designed to deal with the lagging competitiveness and overstretched banking systems that fueled the debt crisis,” reports Bloomberg.
Punishment! So what is the point of being a member of the EU club?
Of course, Slovenia used to be a poster child for a “good European” whose government took snobbish “high ground” in dealing with the lowly Balkanites, especially when dealing with Serbs to whom they were quick-witted to dispense much snobbish moral high ground so now that they are in line for bankruptcy and financial punishment, well, that is something, as morally elevated nation, they could enjoy.
As for Serbia, by being snuffed with territorial ultimatums from the EU, Serbia has been spared tremendous amounts of economic and political troubles because any date would have been for the benefit of Serbia’s ruin.
Not only would Serbia have to have given up on its Kosovo province, but post-date negotiations would require Serbia to go the path of a more drastic “austerity” while having to impose a stronger peg of its currency to the Euro and thus become just like all those countries on the list above that don’t use Euro but whose risks have been detected and are on the rise.
Staying away from the current European Union’s house of termites is the most prudent strategy for Serbia.