As the United Kingdom debates on whether to exit the European Union and keep their dual currency mandate within the coalition, French President Francois Hollande on Feb. 19 spoke in opposition to this and instead advocated his support for the unelected technocrats that run the EU’s financial system. And in comments made during the ongoing EU Summit, Hollande stated that no sovereign nation should have the power to veto decisions made regarding financial regulations within the European Union.
President Hollande’s words support recent comments made by both the French and German central bank heads who called for a centralized finance ministry at the EU level that would supersede all member states within the Union.
EU member states should not be extended the right to veto decisions related to financial regulation, French President Francois Hollande said Friday.
London has been calling on other EU members to adopt a new principle of multicurrency, to emphasize that the euro is not the sole official currency of the bloc and not all EU economies intend to integrate into the eurozone.
“France wants to see financial regulation implemented across all of Europe, and so there should be no right of veto or blockage so that we can tackle speculations and financial crises in the same way everywhere and with the same structures,” Hollande said while arriving for the second and final day of the ongoing EU summit. – Sputnik News
It is not a coincidence that EU technocrats are attempting to seize all financial power over member nations at this time considering that the ECB, along with many central banks within sovereign EU nations, are preparing to enact full scale negative interest rates and perhaps even the elimination of cash to stem the ongoing decline in Europe’s overall economic conditions. And this move also comes at a time when many European people’s (Greece, France, Britain, and Italy) are rising up to create new political parties that have at their foundation the exiting from the Eurozone as their goal.
In many appearances, the European Union was an experiment by the powers that be to see if a large body of nations could function under a non-elected body which could eventually be promoted globally towards a singular world government. But as with all governments forged by men, corruption, lunacy, and the continuous seeking of power eventually creates the groundwork for its own destruction, and instead of dissolving the bad influences, the normal reaction is to double down and to seize even more power under the guise of ‘saving’ the system.
Kenneth Schortgen Jr is a writer for Secretsofthefed.com, Examiner.com, Roguemoney.net, and To the Death Media, and hosts the popular web blog, The Daily Economist. Ken can also be heard Wednesday afternoons giving an weekly economic report on the Angel Clark radio show.