The United States and the European Union under Germany’s presidency have signed a new transatlantic economic partnership plan.
Under Chancellor Angela Merkel, Germany has been aggressive in leading the EU to cozy up to Washington. It has been one of the top priorities for her administration, and an uncommon one in an increasingly anti-American world. Her efforts are paying off. A summit between U.S. and EU leaders in Washington on April 30 set in motion a process to reduce regulatory and trade barriers between the two economic powers.
Prior to departing for the U.S., President of the European Commission Jose Manuel Barroso said, “This agreement will allow us to demolish existing, unnecessary barriers posed by divergent regulations…” Regulations in almost 40 sectors, such as the automotive industry and investment services, have been put on the fast track to become aligned on both sides of the Atlantic.
The logic for transatlantic economic integration is compelling. Bilateral EU-U.S. trade accounts for 40 percent of the world’s trade and, between them, the two economic powers record $3 trillion in sales every year. Sixty percent of the world’s gross domestic product comes from the combined EU and U.S. markets. It is hoped that closer economic ties between a German-led EU and the U.S. will open up a world of new opportunities for the economies of both, not to mention helping the West counter the rising giants in the East.
Among an older generation of Americans, eyebrows may go up as they see the U.S. climbing into bed with the nation they fought against two generations ago. At the same time, some of Merkel’s detractors are asking whether America can be relied upon as a partner, given its plummeting reputation in world public opinion.
Believe it or not, the coming together of America and Germany is an event prophesied in your Bible—as is the outcome of this illicit relationship (request a free copy of our Ezekiel booklet for proof). Based on past history and these prophecies, the real question is not whether Germany can rely on America, but whether America can trust Germany.