E.U. on the brink of yet another major economic crisis
Ursula Von der Leyen has proven herself “very small” to be head of the most iconic union of Europe. She surely proved it on her first term. Now on her second term, she seems to struggle to overcome her first negative achievements by extra negative ones…
Coming 2025, an improved (!) strict and unrealistic “Stability and Growth Pact” (SGP) will be implemented to European Member Countries. This “Pact” will be enforced on European Citizens, once more without their consent or approval.
President Von der “Lier” never mentioned this plan on her pre appointment discussions (mind you she is not people – elected) but only in very imprecise hints.
Now, this plan will result to France’s GOP rate to increase (at best) to 0.8% and to Germany’s GOP to remain at the anemic 1.1% for one more year!
You can imagine that, if such terrible grow figures are planned for the two biggest European economies what kind of repression will hurt the smaller and the weakest ones.
Furthermore this “brilliant” “Stability and Growth Pact” will enforce penalties 0.1%/GOP to those countries that do not vastly reduce their debt, if it is more of 3% of the GOP. According to current fiscal numbers to all the country members!
Such fiscal restrictions it is more than certain to delay if not cancel all major social support and demographic programs not to mention long overdue increase on pensions, allowances and the overall upgrade of public health care.
Moreover, the tragic of the matter is, that nothing of the above will actually have a positive effect on E.U.’s economy. This ridiculous pact has not taken in to consideration the (Trump’s) US protective policy that increases taxes to all imported commodities for all countries except Canada and Mexico. Estimations calculate the world’s GOP to be reduced by 0.5%, US and China’s by 1.3% and France and Germany’s by approximately 0.5%. As it is obvious the fiscal figures projected by Von der Lier’s “Pact” are bound to fail…
