The EU is divided, as always the European Union is made up of bureaucrats who are more interested in receiving their pay and expenses as opposed to any resolve of the economic crisis before them. It is this inability to work as a united group of Countries rather than a group of highly paid bureaucrats that may be the eventual undoing of the European Union.
Post Covid-19 many member States are completely dissatisfied with the way the EU has handled the much required financial assistance during the darkest of times in the member’s history. Italy was in total despair at the height of their pandemic and all the EU could do was disagree as to the best course of action to help one of their members.
It could be a simple case of too many cooks spoil the broth. Germany being the lead of the EU and the Country that calls the shots is fast losing ground as the effects of the pandemic begin to show in the Country. It is now more a case of every Country for itself rather than a cohesive group facing the challenges of the times. The United Kingdom opting to leave has only worsened the case for the EU and should the UK and EU be unable to come to deal to continue their relationship on a positive manner there will be further ramifications for the EU. It would be difficult to see them not lose other member States who too would not want to be a part of the club.
Christine Laggard the President of the European Central Bank told representatives of the 27 member bloc that repercussions were on the way, and that the bloc of members should expect the full effect of the pandemic to hit in due course. She advised the worst recession since the Second World War is on the horizon. Unemployment would soon hit double digits above 10% from its present 7.5%.
After a 3 hour blistering debate they were none the closer to finding a deal. The various Countries seem unable to agree. Each Country looking to their best interests, which do not fall in line with those of other member States. The predictable results usually end in a stalemate type situation that has become the hallmark of the EU.
The discussion is centred on the 1.1 Trillion euro budget and how best to utilise it in the present situation. The European Commission has also recommended borrowing 750 billion euro from the market to replenish recovery funds to help Countries hardest hit like Italy and Spain. Other Countries disagree and believe kick-starting their respective economies with much needed financial aid to stimulate their lagging economies as far more pressing. The bickering continues and the net result is more questions than consensus.