On June 19, Reuters reported that EU leaders “…made no progress on a massive stimulus plan that has divided them bitterly for weeks… The Netherlands, Denmark, Sweden and Austria—the ‘Frugal Four’—say the fund is too large and should be used only as loans, since grants would have to be repaid by all EU taxpayers. They want the funds to be clearly linked to pandemic recovery and say recipients must commit to economic reform.”
If divisions persist, EU’s inability to agree on the specifics of the 750 billion euros recovery fund to help revive economies hardest hit by the coronavirus will jeopardize the alliance’s economic and political future.
With the rise of fascist political trends in the EU and the increasing ability of developing countries to resist Western economic and political domination, European disintegration will most likely make EU regimes turn on themselves.
This will be a repeat of WWI-type situation.
European colonial regimes struggling to contain movements for self-determination and competing for resources in colonized countries, ultimately turned on each other on their own continent.
Courtesy: Reuters
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