Andreas C Chrysafis

Brexit has opened up a can of worms for the EU Commission but also for many member states facing unrest over the ever-rising costs of living standards. Public anger is directed at the source of the problem; the EU’s intractable austere directives imposed on them by their own Europhile governments! Citizens have finally come to realise the EU is leaving them worse off than before and without confidence for a better future.

There is also a growing concern brewing among EU leaders who are calling for fairer policies and to abandon the existing dogma of “one-size fits all” – it has never worked! If Geert Wilders wins this month’s elections, another political tsunami is on the way; the Netherlands would probably be the next country to quit the EU and revert back to commercial ties!

The Commission on the other hand, dismisses the ghastly thought of taking the EU back to its original roots as a common market trading bloc.

Consequently, recession across the Eurozone is creeping up and has already hit Italy, Spain and Greece. Meanwhile, France and Germany are frantically seeking ways to reverse the trend and put an end to public outrage vented in the streets.

The original concept of a Common Market was a sensible idea but the founding fathers – Jean Monnet, Robert Schuman and others – had a different agenda and never revealed those plans to the unsuspecting electorate. It was a cunning scheme and worked well! Duped by promises of great prosperity some countries – such as Cyprus – refused to even offer a referendum to the people on its membership. So anxious were they, they kept banging at the door to let them in at any cost!

Admittedly, Jean Monnet – considered as the patron saint of the EU – with a handful of collaborators have accomplished the biggest political project in modern history! The idea of “free movement of goods, services, capital and labour” was a concept everyone aspired to! However, that was never the objective but the bait; a bait to create a mythical United States of Europe governed by a Commission! The bureaucrat was to become a loyal and “most obedient servant” of the EU experiment, quite reminisced of Franz Kafka’s era!

As intended, the creation of the Common Market quickly transmuted into the European Economic Community, then to the European Community and finally to the European Union for a political, social, judicial and economic union dominated by supranational corporations and banking institutions. It has developed its own flag and national anthem as a way to fuse nations into one European “happy family”.

The formation of a EU army is next in line and plans are already under consideration to achieve such a “defence army”. But the greatest achievement of the founding fathers was the creation of a pseudo European Parliament crammed with 707 elected members whose main purpose is to debate on minor issues but most importantly to “democratize” and rubberstamp the Commission’s undemocratic decisions.

A Parliament that has no powers to make and pass laws is considered a lame Parliament and that is precisely what the original European Parliament concept called for: a lame parliament to mislead the electorate as a democratic institution but in fact to provide the mighty Commission legitimacy and supreme powers to make laws without public accountability.

Brexit has certainly shaken up the cosy arrangement of the EU bureaucratic elite and has also triggered a schism between EU leaders. They are demanding changes to overregulation and merciless austere policies hurting the people and Eurozone economies. Those requests have so far fallen on deaf ears.

They are disregarded by the EU Bankers Union, which is the body that holds the key to making changes to fiscal policies. This Euro-Group (IMF/EU/Troika) labelled as “economic assassins” are in fact given supreme powers over all monetary policies of member-states.

The EU Special Summit on 20 and 21 February held in Brussels to discuss the EU’s long-term budget for 2021-2027 collapsed. No agreement was reached. Instead, discord has emerged between the leaders seeking ways to fill a 75 Billion hole in the bloc’s budget and cope with the UK’s departure. Major contributors are rejecting a proposal of paying billions more to meet EU’s Budget shortfall because of mismanagement and squandering.

Leo Varadkar has criticised the EU for offering Ireland a bad proposal on its contribution to the EU budget; Greece has complained that Troika’s Euro-group is delaying the release of its bailout package of 86 Billion Euros; Cyprus in recession, demands more funding to cope with the steady flow of migrants dumped on its shores by Turkey; Marine Le Pen has promised to hold a Frexit referendum if she wins the election this Spring; Mateo Salvini has also been vocal about abandoning the EU.

There are certainly thorns propping up in the perfumed garden of the Eurozone!

Euro-scepticism could influence elections in a number of EU member states and the likelihood has alarmed Eurocrats. They believe that Holland, alongside France and Italy are the trio that could permanently tear EU integration to shreds. There are also fears of Grexit due to the Troika’s economic austerity, which has brought destitution to thousands of Greek citizens not to mention the army of migrants entering the country illegally through Turkey to reach the EU – the land of milk and honey! Meanwhile, Greece is taking the brunt of EU botched policies!

In May 2004, the small island of Cyprus also joined the EU and in so doing, abandoned its strong currency; adopted the Euro; liberalized the banking industry; relaxed monetary controls and allowed the EU to dictate social, economic and political policies! Not long afterwards, the floodgates opened up to financial ruin through greed, money laundering, and bank corruption. Unsustainable loans were given like confetti to anyone without security or the ability to pay – even to dead persons!

The European Central Bank (ECB) with the Central Bank of Cyprus responsible for ensuring good banking practices have turned a blind eye that has ultimately brought ruin to the banking system with dire consequences for the people and industry alike.

The Euro-group (IMF-EU/Troika) grabbed the opportunity to rescue the Cyprus banks and moved in for the good kill; the economic colonisation of Cyprus has just taken roots! For a 10 Billion euro loan the Euro-group finally found the perfect guinea pig to test its closely guarded concept – Bail-in!

Economically broke Cyprus was the ideal candidate for that! Weak and vulnerable, it was crying out for hard cash and without objection had become a test case of things to come across the Eurozone.

On March 13, 2013 the plan was put into action for the biggest “robbery” ever attempted in the history of banking. No sooner had Mr Anastasiades been elected President of Cyprus under EU pressure, he did the unthinkable; he shut all the banks at the weekend and under padlock, emptied peoples’ bank accounts! The stealing frenzy continued for two weeks with little thought for the social and economic concerns or the depositor’s plight. At the end, banks were saved but the economy was destroyed.

The Troika “Bail-in” experiment was a great success! Cyprus was now dependent on long-term Troika loans!

European citizens – like the victimised people of Cyprus – are now expected to pay for loan mismanagement and bad banking practices. Iceland did the exact opposite; it refused to bail out its financial institutions at the taxpayer’s expense and banks were forced to bail themselves out! At the same time, top bankers went on trial and sent to prison for dishonesty and corruption!

In Cyprus, not a single banker has been incarcerated – yet!

Meanwhile, the fallacy of the European “happy family” that promises prosperity and social stability, continues to remain a myth; and bad one at that!

Andreas C Chrysafis
March 13, 2020

Andreas C Chrysafis a Greek, Canadian and a British citizen is a non-politically affiliated UK published author, a writer, an artist and a strong advocate of Democracy, Rule of Law, Transparency and Human Rights. His published novels, books and articles are available globally and make a good read. The publication about EU integration it’s most revealing.