The EU Cannot Hold Together

The election of France’s socialist government will doom the EU. Why should Germany foot the bill for the largesse of the communists and socialists in Europe? Spain today asked to recapitalize it’s banks. Does anyone think that Greece isn’t going to need money? Just because an election gave everyone a sigh of relief doesn’t mean they are actually going to reform anything. They want to go slower. How about Italy? Portugal? Any better off?

Now with France electing to join the stupidity, the Euro is doomed.

The French are going to make it extremely hard to fire anyone. The are going to increase the costs. What does that mean? It means no one will get hired. French GDP is going to take a nose dive. Established companies are heading for the exits to go to lower tax countries. England is a beneficiary of the French stupidity.

However, even entrepreneurs are leaving. Typically taxes don’t affect start ups since they don’t make any money. However, regulation does, and the new French regulations penalize all business severely.

If I am the Germans I feel like the weightlifter on the bench press that just had a couple of manhole covers added to the bar. How can you have a European Union, when only one country in Europe is productive? Socialism is like that. They direct and regulate, you produce.

California, Illinois, New York, Rhode Island are the PIIGS equivalent in the United States. Obama and his administration epitomize the EU socialists in the US. As the world macro economy takes another downturn, it will be interesting to see how they weather the storm.

Thanks for the link Instapundit.

Thanks for the link Ace of Spades

thanks for the link Doug Ross.

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  • Max

    “Socialism is like that. They direct and regulate, you produce” To bad this concept is not taught in public schools. It’s almost as if those in charge don’t want the proletariat to know how much they are being exploited by the very people who claim to want to help them.

    • cpyddub

      Fear not. Plenty are learning, the hard way.
      The fatal flaw of socialism is that its appeal to those is only so much as it goes one way.
      Eventually even they, like the Germans, get hit up.

  • Beth Donovan

    The EU has been its own downfall. Regulating everything is crazy, and that’s what they have been doing.

    And it is what the Obama Administration is trying to do, too.

    Hate to point this out, but it is weather the storm, not whether the storm.

    • Rich Vail

      the problem is, under the current administration in the US, they have begun the process of regulating every damn thing here. The requirement for Licenses for employment has skyrocketed. Now a majority of the states require “interior decorators” to be licenses…WTF!!!!!
      That kind of crap is the problem, and state/federal legislatures are NOT part of the answer.
      Once a law is put into place…it never goes away. The same with taxes. It’s time to eliminate the current tax structure and implement a flat tax on everything. It’s not fair for someone making $1 milliond dollars a year to pay 50% of their income in taxes while someone who makes $30 thousand or less pays nothing…
      Furthermore, we as a nation need to eliminate ALL subsidies. If your business can’t make it without government “subsidies” then you need a better business model…or you fail.

      • pointsnfigures

        Agree there. Name something you can do on your private property without going to the government?

  • slickwilly169

    The Euro PIIGS demonstrate what Lady Thatcher said.
    ”Socialist governments traditionally make a financial mess. They always run out of other people’s money.”

    • cpyddub

      The EuroSocies are past merely running out of other peoples’ money.
      They’re running out of other people.

      The eternal triumph of the ever-expansionist, consuming, blue model.

  • CR

    “If I am the Germans I feel like the weightlifter on the bench press that just had a couple of manhole covers added to the bar.”
    Two words for you; “Gerd Bonk”. Okay, the GDR Staatspolizei drugged him up with growth hormones and steroids but you still had to be impressed with the outcome…

    • pointsnfigures

      Is he dead from cancer?

  • PatrickC
  • PatrickC
  • PatrickC

    Hitler campaigning in England.

    Alan Coren did a similar bit about how “1984” could never happen in England.

    I apologize for being on a tear with “Monty Python” today, but you look back at what they did, and it all seems very perceptive.

    I just need to figure out how to get a haddock, or herring, into this.


    • pointsnfigures

      Anytime anyone references Monty Python, it’s okay with me.

  • Angel Investor

    Awesome article . Keep on sharing :)

  • orbicularioculi

    The Euro and the European Union have been doomed since their inception. There has never been a United States of Europe, and Greeks, Italians, Spainish, et all do not want to be homogenized. Germany is going to finally tell them to f**k off. Europe has been killing itself for a long time. It’s cultural. And of course they all allowed the Muslims to infiltrate their Nations. And of course they refuse to have children, so demographically they are dying while the ;7th Century Muslims in their midst take advantage of their confusion as dhimmis. It’s over, EU… what is sad is that there is no way to turn it around. Europe is dying.

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  • Over50

    Yes, the EU and the Euro are toast. How about some thoughts on how to profit from this fact?

    • pointsnfigures

      short the Euro, buy the dollar. Short commodities.

  • Leslie Robinson

    French labor laws stink enough already. Not sure if Hollande can make it worse. I see some signs of increased taxation on dividends and higher bracket income earners. But celebrities like Johnny Holliday have been hiding here in Switzerland 6 months and 1 day each year to avoid French taxation long before Hollande came along – let’s see if Hollande takes the fight to those who’ve fled already. You’re right that things ain’t likely to get better, but I’m taking a wait and see approach before wielding the ideological bat against this guy. France was already on its knees and it wasn’t the left in power these last 20 years. Cheers.

    • pointsnfigures

      They do, but Hollande is already going to make it worse. Now it will be an outright exit of wealth Companies that can will, individuals will go to tax havens. The upper middle and middle class will get wrecked. The government employees will be okay until the money runs out.

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  • Aristotle120

    The Diplomad 2.0 has written a great deal about this. One his/her best is