EU budget: Do EU federalists have the most reason to be pleased?
While not getting everything they wanted the ‘first time’ around, the EU federalists have advanced to the next stage.
No longer does one hear about this great battle between the ‘nations of Europe’ and the EU superstate; instead, the EU only grows and expands its scope, while Eurocrats march onwards towards their goal of a federal union…one step at a time.
Sometimes one can overlook the long-term battle while seeking short-term headlines. Like the von der Leyen debacle, some of this post Summit spin is over the top.
* For the first time, the EU Commission will borrow money on financial markets in an attempt to mutualize debt. And so it begins…
This plan is huge step towards a common shared budget and roughly doubles the regular EU budget’s size for the next three years. It is a huge shift towards greater EU integration and greatly expands the power and scope of the superstate.
– As the FT writes gleefully, “this involves debt-financed deficit spending at union level…Whatever solutions they choose, they have boarded the train towards more common taxation and cannot get off and turn back…. If managed well, the new governance structure could be the embryo of truly pan-European economic policymaking.”
** Who at the Summit raised objections about the power being vested in Brussels…taking the EU closer to a shared budget, central government and federalism?
Moreover, we see no serious efforts, even after Brexit, to reduce the size and scope of Brussels. All want ‘more EU’ and bigger EU budgets, which, in the long term, represent a slow death wish to the nation state.
Is it now just about how much money one can grab from the cookie jar, regardless of the long term consequences?
*** Somehow, through all the side shows, many have lost sight of reducing the size and scope of Brussels.
The rule of law was important to defeat and a victory on one level, but it was not the only concern and should not be used to rationalize one’s support of this monstrosity that will alter the EU’s political economy….forever.
**** Has the bar been lowered since last year’s EU Summit that welcomed the von der Leyen commission?