[kitchencabinetforum] EUROPEANS ABHOR EIN VOLK, EIN REICH, EIN FUEHRER

Barroso declares that over the past two years, he has made very important progress in building a true economic union. Barroso even boasts that more has been achieved in the last two years than the previous ten. Barroso says he is delivering a robust response to the crisis by repairing our banking system; strengthening our economic governance; setting up credible financial firewalls and providing unprecedented solidarity to Member States in difficulty.

Germans are footing the bill for Greek sins and Greeks aren't doing anything to stem the bleeding. Graecokleptocrats are not conscious of their responsibility for the difficult situation in Greece. It is a winking game. Graecokleptocrats pretend like they want to reform, and Eurokleptocrats act like they believed them. But now this arrangement has reached its elasticity point.

At the heart Barroso's response has been a twin track approach of stability and growth. That means restoring sustainability to our public finances – because the crisis has shown that debt fuelled growth is unsustainable. And it means creating the conditions for growth and jobs, through structural reform and targeted investment.

Greeks, adding insult to injury, continue to play the victim and to look abroad for something to blame their own malaise on. Graecokleptocrats have been particularly focused on the Germans, showing their middle finger to them! Instead of reaping thanks for all the transfers of German taxpayer money, Germans are now forced to put up with a tongue-lashing.

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Barroso points out that for two years, he has pushed this twin track approach: in his State of the Union speeches, in the roadmap for stability and growth he presented last October and in this year's Annual Growth Survey. Barroso has always made clear that we cannot have stability without growth and we cannot have growth without stability. So, Barroso is extremely pleased to see the new momentum that is clearly building in Fourth Reich Member States to kick-start the stalled engine of European growth.

Germans abhor the Nazi dream for Europe - ein Volk, ein Reich, ein Fuehrer. The European project has lost significance among Germany's policy elite as the central driver of foreign economic policy. No clear grand strategy has replaced this Einbindungspolitik, German foreign policy tenet of engagement. Given the heavily-fragmented nature of checks and balances in German politics, the political elite seems to be buffeted by a cycling of priorities from regional elections to Chancellory infighting. The end result has been a series of policy reversals and costly delay. http://venitism.blogspot.com

Barroso's message for Europe Day is that we need to seize upon this new momentum to deliver on the many proposals for stability and growth that we have tabled. Barroso asserts that in order to regain competitiveness there must be an acceleration in structural reforms. There is work to do at both national and EU level. Member States should reduce taxes on labour to stimulate job creation.

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The European Council, following Barroso's stupid proposal, has already called for approval of the stupid project bonds. Barroso put forward stupid proposals on project bonds, stability bonds, and eurobonds. This is a stupid way of making funds available now while avoiding putting extra pressure on public finances. Barroso is pleased to see that this is on track, meaning that a contribution of €230 million from the current EU budget could be used to attract funding of up to €4.6 billion over the next two years for key infrastructure projects in transport, in energy and in the digital area.

Merkel reinforces her opposition to eurobonds, stability bonds, and project bonds, declaring that a communistic collectivization of debt would leave the bloc's members worse off. This is communism, pure and simple! Germany, Europe's largest economy, would face extra costs of a hundred billion euros a year through the alignment of interest rates with nations that pay more to borrow. Eurobonds lead us to a debt union, not to a stability union.

Giving eurobonds to PIGS is giving gin to alcoholics! Eurobonds create a transfer union. Eurobonds would benefit profligate PIGS, especially corrupt Greece, whose borrowing costs on the open market have become prohibitively expensive, but they would expose fiscally sound countries like Germany to more risk, increasing the country's low interest rates. Eurobonds would subsidize the dolce vita of PIGS.

Merkel rejects joint eurobonds as absolutely wrong. Restoring stability to the single currency bloc requires a longer-term step-by-step approach. We must move away from a debt union and toward a sustainable stability union. This won't be easy but it is right. In order to bring about common interest rates, you need similar competitiveness levels, similar budget situations. You don't get them by collectivizing debts.

Merkel points out that if the debt all goes into the one pot, you have difficulty figuring out where it all comes from. Spreading risk through eurozone would place Germany on a slippery slope where in the best case it would be on par with the European average, or, we all get worse together. Instead, a European framework needs to be developed in which a regulating body must have a right to intervene in order to bring fiscal discipline to failing budgets.

Wow! Smart words are more effective than smart bombs! Mighty words of a charismatic keynote speaker can transform your people to a new dimension of organizational climate, efficiency, self-actualization, enthusiasm, belonging, and motivation. I would like very much to speak at your conference in order to explain critical points much further. Basil Venitis, venitis@gmail.com