Believe or not, fiscal crisis or not, the EU is itching to fund the Islamist government in Egypt:
European Council President Herman Van Rompuy, visiting Cairo, said on Sunday the European Union and other financial institutions had offered Egypt over 5 billion euros to support Egypt's democratic transition.
"The European Union and associated financial institutions have offered an amount of more than 5 billion euros, or more than $6.5 bln, in grants, concessional loans and loans for a period of 2012 and 2013 to support Egypt's democratic transition," Rompuy told reporters
Well, I'm sure that makes the Greeks, Italians, Irish, Spaniards and Portuguese feel all warm and cozy inside...as well as the citizens of the other EU countries now suffering under harsh austerity budgets.
Unbelievable.
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3 comments:
Maybe Greece, Italy, Ireland, Spain and these other countries will finally come to their senses and opt out of the EU. Of course the underlying problem may still remain. Money was borrowed. Now it must be paid back. Folks don't want to pay it back.
In any event, the debts may be so large that they cannot be paid back in which case creditors may need to take a "hair cut." Whose dumber, the borrower who borrowed money that they had no ability to repay or the lender who lent the money when it should have been obvious the debts could not be repaid? I'd say they each have culpability.
At least, by dumping the EU these nations would have a fighting chance to grow their economies. Greece, Italy, Spain, and Ireland are completely separate countries with radically different cultures and radically different interests. To try and bring these nations together under some unified group like the EU or any thing else is a mistake and is unworkable.
When these countries are separated and are acting in their own interests based upon their unique situations, the nations should prosper and peaceful relations will be achieved. To try and force these countries together will only lead to failure and misery. The attempts by greedy men to control Europe played a large role in WWI and WWII. Lets not make the same mistake again. Scrap the EU forthwith.
Ultimately these decisions will need to be made by Europeans. If they wish to pursue a stupid policy that has no chance to succeed, then so be it. America should have no part in it. Withdraw from NATO and redeploy all military forces and assets away from Europe. Any attempt to save the EU will only lead to economic misery at best for Europeans and very likely war. If America remains in NATO, there is a very real risk America could be pulled into this war. Such a situation would further jepordize our national security interests.
In the EU's case giving money to Egypt makes some sense. At least it does from the perspective of how the EU sees itself. At best for the US, the EU is a strategic competitor. At worst for the US, the EU is an enemy. This is how it views itself and ideally the US government should understand this. Since the Egypt is an enemy of America, it makes perfect sense from their perspective to support it.
With that said do the dolts that rule the EU not realize they are bankrupt. Might they want to call off undermining America and supporting Islamists long enough to get their financial house in order? It seems the only government more insane than the EU right now is the American government!!
Egypt's financial low is what restrains Egypt from more than verbal damage to Israel. Yet, the EU and the US are pouring funds into Egypt. Sickening.
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