Emmanuel Macron is half-right. But it’s not a situation where the European Union “could die”, it’s one where the collapse of the European Union is absolutely inevitable.
Emmanuel Macron has admitted that the EU ‘could die’ as he issued a dire warning about the bloc’s economy. The French President told the Berlin Global Dialogue event that the EU was over-regulating and under-investing. He also pointed out that both China and the USA outstripped the 27 member-bloc in economic output and investment.
In words reported by the Daily Telegraph, Macron said: ‘The EU could die, we are on a verge of a very important moment. Our former model is over – we are over-regulating and under-investing. In the two to three years to come, if we follow our classical agenda we will be out of the market’.
One of the central tenets of the EU is the “free movement of people”. Which is a necessary component of free trade; the benefits of free trade necessarily derive from labor and capital flowing to the places where production is most advantageous. This already produces serious problems, but with financialization, globalism, and debt completely interfering with these flows, the costs of free movement are even worse than they should be while the benefits are never realized.
Either the nations collapse into civil war and barbarism or the EU does. And it’s clear that more than one-third of the native populations have already figured this out. The worse things get, the more people will understand that the status quo is simply not an option.
And, of course, they’re doing what all bureaucrats do when faced with failure: prescribing more of the poison that is already killing them.
Former Italian Prime Minister and former European Central Bank chief, Mario Draghi, said that the bloc cannot compete alone with the likes of China and the United States and needs a far more integrated single market to create pan-European businesses of the require global scale.