The financial crisis in Greece could have worse consequences on the global financial system than the collapse of Lehman Brothers, according to statements made by European Union anti-bureaucracy czar Edmund Stoiber on June 10. In an interview with Focus, Stoiber recounted how he warned against letting Greece in the eurozone in the first place.
“I wanted a smaller eurozone,” he reminisced (translation ours throughout).
In a speech made three weeks earlier, at the nrw Academy of Sciences, Stoiber presented his solution to the crisis. “We can only defend the euro together,” he said. “The next step is a common economic policy. Only then can a transfer union be prevented.” In other words, like European Central Bank head Jean-Claude Trichet and others, Edmund Stoiber sees the need for a pan-European financial authority.
Unlike most other European leaders, however, Stoiber has actually been blunt concerning the consequences awaiting eurozone nations that do not get their financial house in order. “When a state refuses to bring its finances into order, then it should be possible for the other members of the eurozone to exclude it,” Stoiber said last year.
With Greek citizens showing up en masse to protest new austerity measures, it is looking more and more likely that Greece will not be able to get its finances back on track. If this is the case, the other members of the eurozone may indeed exclude Greece in order to stay afloat.
Like the late Franz Josef Strauss, both Edmund Stoiber and his protégé Karl-Theodor zu Guttenberg share a dream of a united Europe under the dual leadership of Germany and the Vatican. If a nation like Greece cannot be brought under the economic governance of Germany, expect the European Union to give it the cold shoulder in favor of other nations that can be ruled.
As our editor in chief Gerald Flurry wrote back in February, “Germany will use this crisis to force Europe to unite more tightly. In the process, some eurozone countries will be forced out of the union. When that happens, the pundits will say European unification is dead, that the European Union has failed. Don’t listen to them!
“Every country that leaves the EU puts us one step closer to seeing the German-led 10-nation European superstate.” ▪