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Barroso’s first draft regulation aims to further improve fiscal surveillance by establishing a common timeline and common rules to allow for more active prior on ex ante monitoring and assessment of the budgets of euro area Member States. 

Barroso’s second draft regulation aims to improve surveillance of the most financially vulnerable euro area Member States. The twopack is currently being scrutinised by both the European Parliament and the Council of Ministers. The Commission is working towards a fast approval of an ambitious version of its draft laws.

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Fourthreichian fiscal union is the Trojan horse for overall harmonization of economic rules, policies, and laws in Fourth Reich. Any eurozone problem is interpreted as a consequence of the lack of harmonization and leads to another wave of a creeping harmonization. Fuehrer Merkollande frequently declares that coordinating tax policies and labor laws is not just about currency issues but also about political cooperation, which has to be deepened. In other words, more enslavement to Brussels, transforming the confederation to a federation!

Barroso points out the Fiscal Treaty on Stability, Coordination and Governance is an intergovernmental treaty that was signed by 25 EU Member States on 2 March 2012. It demonstrates the willingness of the Member States to enshrine the very culture of financial stability in their legislation, mirroring the EU fiscal rules at national level. This had been a missing link in the EU budgetary surveillance framework. If a country does not properly implement the new budget rules in national law and fails to comply with a European Court of Justice (ECJ) ruling that requires it to do so, the ECJ can impose financial sanctions. The Treaty is currently in the process of ratification by Member States.

Vaclav Klaus points out Europe is not yet at the end of its journey. The de-democratization process goes on. The acronyms change further, together with the incoming stages of the unification process: EEC – EC – EU – EMU – EFU – EPU. We are now approaching the last but one stage, the European Fiscal Union, which looks for some people like a useful solution to the recent collapse of the previous stage, of the European Monetary Union. And there are further dreams on the side of the global governance adherents in Europe about moving towards the final stage – the full-fledged European Political Union which will undoubtedly become the global governance paradise.

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In November 2011, the Commission presented, together with the two-pack, a Green Paper on the feasibility of introducing Stability Bonds to structure the political debate in the EU on the rationale, pre-conditions and possible options of financing public debt through European Stability Bonds. 

To Klaus`s great regret, the region of Central and Eastern Europe – with its unfortunate communist experience – isn’t of much help. Klaus expected greater resistance among the citizens of these countries to such plans, but it hasn’t come. The people in these countries misinterpreted the European reality. They were not sufficiently attentive to its nuances and undergoing tendencies. They believed and still do believe that they were marching back to Europe of democratic nation-states whereas the direction in which they are going is avanti into the supranationalist European Union. The global governance exponents keep telling them that even the slightest criticism of this road is an implicit appeal to return to the Soviet Union-type state of affairs. It is difficult to convince the ordinary people that it is the other way round.

Barroso’s Green Paper on Stability Bonds needs to be followed up with a roadmap that outlines the necessary deeper fiscal and economic integration in order to minimise moral hazard and ensure fiscal sustainability, in other words, the features of an economic – and political – union required to make mutualisation of debt rational.

Klaus who lived in communism knows that fighting the concept of nation-states is very unfortunate. The current moving away from nation-states in Europe is based on an irrational but very easily embraced story that nation-states are responsible for wars. This is what the children are taught at schools. This is what the politicians in Europe repeat when they run out of arguments. Klaus is afraid that it is much worse than we assume – they probably even believe in it. We must patiently argue that the only guarantee for peace is democracy, freedom and prosperity, not global governance. 

Recent years have seen an unprecedented strengthening of coordination of economic and fiscal policies at EU level. This has been accompanied by an expression of solidarity to support financially vulnerable euro area countries through the building-up of the euro area’s firepower in the form of the EFSF, and the ESM (which should be effective in July).

I consider the European Union null and void confederation, because Europeans did not vote for any constitutional treaty! Eurokleptocrats pulled off the biggest powergrab in history by imposing a camouflaged constitution, bypassing all nonos. The Nazi dream for Europe was finally fullfilled – ein Volk, ein Reich, ein Fuehrer – one people, one empire, one leader. 

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