On Friday, 28 November 2014, in Brussels Jean-Claude Juncker the President of the European Commission will reveal the problems faced by certain countries which have overspent by more than the "Golden Rule" of 3% in 2014. Any sanctions will be delayed until the Spring of 2015 when final hard figures will be available !
The activities of the 17 countries in the EUROZONE vary widely and cannot be directly compared. What is however very clear is that unemployment everywhere in 2014, has had a brutal and negative impact on the economy of all countries.
Juncker knows this and will explain that more than 300 Billion Euros of Investments by the EU and EUROZONE in 2015 will be required to kick-start the European Economy. The finance is expected to come from private sources. Perhaps then the EURO will be safe for another year.
Alas there are other difficulties which EUROZONE (and EU) countries face which are not being addressed ! To name but a few,
- Immigration and inefficient Frontier Controls
- Freedom of movement of Migrants
- Unlimited and uncontroled imports from ASIA
The basic Treaties of the EU need changing to permit the EU to protect itself in a changing and more modern World !
When the EUROZONE judges Budgets and Financial Statements, it must admit France and Italy (and Britain in the EU) are concerned by these matters, and that they are serious ! Has Mr Juncker understood the result of the recent EU Elections ?
These problems will not just go away ! If nothing is done electors will make themselves heard !
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