The EU has today finalised the basis of agreement on a banking system that will “protect” the major banks of the Eurozone. Does this protection filter down to the man on the street or is quite the reverse being agreed.
Whilst the world awaits the formal report of President Herman Van Rompuy too much speculation would be unadvisable but the trend is somewhat disturbing. Control, control, control seems to be the order of the day to obviate the need to bail out failing banks. How to lead this superbank will be the debate that rages on and on whilst some members states flail in controlling spending.
Germany has been the “Unterstitzung” of Europe and should therefore be in the controlling board but will too much control be detrimental to the founding fathers principle of Europe and usher in the ‘one world regime’ or will this control mechanism be the saving of Europe.
The report is eagerly awaited … tomorrow.