Earth to EU: It’s time to face reality

European Commission President Jean-Claude Juncker must have had visions of sugar plums dancing in his head this week when he laid out his notion of where Europe is going in his annual address to the European Parliament, fancifully called the “State of the Union.”

His fantasy of a federalist European Union with all 27 members remaining after Britain leaves embracing the euro

EURUSD, +0.1930%

  and opening borders per the Schengen agreement was so out of step with reality and with the mood in EU countries that he seemed to be on a different planet.

In fact, the German daily Die Welt thought the idea of a Bulgaria or a Romania joining the euro was so absurd that one had to ask “on what distant star the spaceship EU under its Captain Juncker has spent the last few years.”

Sahra Wagenknecht, a leader of the Left party in Germany — who takes advantage of her party’s marginal status to speak more pointedly than mainstream politicians — said “Mr. Juncker seems to have taken leave of his senses.” The euro is already causing enough damage to the countries that have it, without extending it to the rest of the EU, she said.

Even the liberal Guardian, which has been steadfastly pro-Europe, said Article Source…

Leave a Reply

Your email address will not be published. Required fields are marked *