26 February 2016
© AP Photo/Giannis
EU politicians and European
heads of state
are desperately looking for
ways to save the European project,
but a series of powerful
anti-EU shocks, and growing public distrust
makes a Soviet-style collapse
seem almost inevitable,
French economist Charles Gave
Beset by crises from all sides, from the prospects of a Brexit to
the ongoing migrant crisis to a negative economic outlook, cracks
have appeared in the EU project, France's Atlantico newspaper
Speaking to the newspaper, Charles Gave, an economist and
president of the liberal think tank Institut des Libertes,
was asked why he believes the
European Union project may eventually face the same fate as the old
"The disaster of the quotations of
European banks shows that something has gone terribly wrong,"
the economist warned.
"I have never seen a scenario where
the collapse of major European banks was not followed by a
recession in Europe. So the answer to your question is simple:
if a recession happens in Europe
in 2016, the Euro will not survive."
"For example," Gave recalled, "in
Italy, bank debts already constitute 20% of GDP, and might cross
the 30% or even 40% threshold, which is obviously not tenable.
For years now, the Euro has served
as a financial Frankenstein: it is impossible to maintain a
fixed exchange rate for countries that have such differing
"I wrote back in 2002 that the Euro would lead to too many
houses in Spain, too many officials in France and too many
factories in Germany, and that Europe would fall under German
influence, with Germany remaining the only country with a
positive net balance."
"As for the formation of a [single]
European state," Gave noted, "France, Germany and Italy are real
states - Europe is not. Europe is a civilization, not a state.
The supporters of the Euro have, for
15 years now, been killing the continent's economies, and if a
recession begins in 2016, the European people will take the
wheel away from those whom they did not elect -
from [European Council President] Donald Tusk and [European
Commission President] Jean-Claude Juncker.
A union [in itself] does not
necessarily indicate strength, because if that was the case, the
Soviet Union would be the main world power…"
Ultimately, Gave suggests,
"strength lies in a competitive
economy, and not in a bloated organization which no one wants -
one which destroyed the fruits of the labors of the founding
fathers of Europe.
Schumann, Adenauer and Pius XII
desired to establish a Europe based on diversity. The
malefactors who created the Euro want instead to create a
European nation… and are responsible for the looming catastrophe
on the horizon."