Is the EU Volcano About to Erupt?

Is the EU Volcano About to Erupt?

Monday

Aug 2016

Posted by mishgea | August 22, 2016 6:32:50 | Economics

I am wondering if the EU volcano is about to erupt.

My rationale is Matteo Renzi, Francois Hollande, and Angela Merkel met on a volcanic island near Naples, specifically chosen as a symbolic mark of their joint resolve to stay the course with the EU after the UK voted to leave.

Big Three

Europe is the Solution Says Hollande

Please consider EU Leaders Pledge Brexit Will Not Weaken Bloc.

The leaders of Germany, France and Italy declared they would not allow Britain’s departure from the EU to propel the bloc into reverse as they discussed plans to deepen intelligence co-operation and bolster a pan-European investment plan.

At a summit on the Mediterranean island of Ventotene, they pledged to address some of the bloc’s most urgent problems by reinforcing European defence, overcoming a refugee crisis and spurring economic growth.

“We think that Europe is not the problem. It’s more the solution,” said Italian premier Matteo Renzi at a press conference with German chancellor Angela Merkel and French president François Hollande on the flight deck of an Italian aircraft carrier.

Almost two months after Britain voted to the leave the EU, the summit was cast as an opportunity for the three largest founder members of the union to declare their common commitment to European integration.

The volcanic island near Naples was specifically chosen for the meeting, the leaders’ second since the Brexit referendum, as a symbolic mark of their joint resolve to stay the course with the EU after the UK voted to leave.

Pure Ignorance

Earlier today a reader commented …

To think that EU is only a economic construction is pure ignorance, The main objective was (and still is) TO AVOID MILITARY CONFLICTS in the most violent continent in the last 3 centuries. This has been successful.

Analyzing EU with “nannycrats” and other silly notions denotes only the lack of culture, lack of meaningful readings and shortsighted view of the writer.

I know full well what the mission of the EU is. The problem is two fold.

Mission creep: The nannycrats did not stick to the mission.
The Euro: The euro is fatally flawed as a currency.

I fully embrace freedom of movement, within the EU, for the right reasons.

I do not embrace open invites to terrorists, from elsewhere. Nor do I embrace open invites from elsewhere for economic reasons.

The results speak for themselves, and the volcano is arguably ready to blow its top.

Volcano Offers Perfect Symbolism

Beppe Grillo’s eurosceptic Five Star Movement party is in a dead heat with Matteo Renzi in Italian polls.
Marine Le Pen eurosceptic National Front party is leading or in second place France.
The Eurosceptic AfD party is on the rise in Germany.
Norbert Hofer of the Freedom Party, a right-populist group with an anti-immigrant, Eurosceptic platform, is in the lead in a presidential re-run in Austria.
Spanish separatists in Catalonia threaten to break away from Spain and are in open defiance in Madrid.

Brexit happened because of inane nannycrat rules and also because of Merkel’s blatantly stupid open arms welcome of outsiders for political and economic reasons.

Termite Infestation

Europe is more splintered now in many ways than it was before the adoption of the Euro.

Anger is visible everywhere. The volcano is ready to blow.

Mike “Mish” Shedlock