Europe’s ‘great power’ dream in tatters

[Cervix]

All four pillars of the EU’s economic strategy and great power project now lie in ruins. Every domino has fallen.

Europe sub-contracted its energy supply to Russia and its manufacturing supply-chains to China. The hurricane of events over the last five years have exposed the blind complacency behind those bad bets. It is less understood that Europe also sub-contracted its aggregate demand to the rest of the world over long stretches of the last quarter century.

Europe surfed on the consumption of deficit states – chiefly the US – rather than generating its own demand. It was always tempting fate. This neo-mercantilist bet has, at last, gone horribly wrong as well. There was a Europe before Turnberry. There will be a profoundly different Europe after Turnberry. “This EU is finished. The bureaucratic oligarchy has run the European economy and institutional system into the ground.

But rather than asking themselves where it all went wrong, they have sought a scapegoat – turning their fury on the commission’s Ursula von der Leyen, vilified for going to Canossa and kneeling at Trump’s personal fortress. Perhaps the EU has touched rock bottom. Perhaps not. Either way, these travails do not seem to have intruded on the political consciousness of Britain, where Europe is a romantic idea best enjoyed from a distance.

Needless to say, Europe has been the chief casualty of its own policy. It was so obsessed with enforcing austerity in order to make the euro “work” that it cut investment to the bone all through the lost decade and played itself out of the digital revolution.

It continued hollowing out its military defences even after Russia seized chunks of Ukraine in 2014. It spent so many summits dealing with the contradictions of monetary union that it failed to think properly about anything else.

Would the disparate nation states of Europe be richer, happier, better defended and more competitive in the global economy today if the EU had not launched the euro? Would its relations with the US be better if it had not tried to turn itself, against nature, into a unitary great power with the barely concealed agenda of overthrowing the dollar and reversing post-War American dominance?

Undoubtedly. But will you ever hear this acknowledged in European high circles? Never.

[Nülliflower]

well my electrical appliances are all running smoothly so clearly not all is lost yet.

[salamander]

Originally posted by Nülliflower:

well my electrical appliances are all running smoothly so clearly not all is lost yet.

the microscopic electric elementals that live in your appliances are the only reason they stay running. they are tiny fae folk that both feed off of and exert electricity, but sadly they are dying out

[Day 1]

Originally posted by eram:

but they do a good sausage

have you ever tried our sausage?

[Pocahawtness]

Oh, grief, another positive thread to cheer everyone up.

You know, I am so tired of all the doom and gloom.

CHEER UP.

You might think the world is bad, but believe me it's been a lot worse and it sure will get worse again if people don't stop being so negative.

People make the future. Be bright.

[Nülliflower]

Originally posted by salamander:

Originally posted by Nülliflower:

well my electrical appliances are all running smoothly so clearly not all is lost yet.

the microscopic electric elementals that live in your appliances are the only reason they stay running. they are tiny fae folk that both feed off of and exert electricity, but sadly they are dying out

fortunately, the powerhouses are always cable to mass produce even more of these electro-cute creatures.

[Ulfrinn]

All good reasons why the US should cut the EU lose and not follow it down the same toilet it's heading down. EU isn't even a regional power. It's a collection of has-been nations, former empires, long removed from any real global influence they once had, and it still has a very, very long way to descend until things start improving. Before that time comes, expect the power structure to do everything in it's remaining power to hold onto power. Mass censorship, banning opposition parties, which we're already seeing.

Germany learned nothing after WWII. It's just the regime now thinks it can succeed where the one in the 40's failed.

[TGC> The Games Collector]

Originally posted by DirtBag:

Europe has been the chief casualty of its own policy.

Many such cases.

[Rumpelcrutchskin]

Ok comrade commissar.

[Day 1]

Originally posted by TGC> The Games Collector:

Originally posted by DirtBag:

Europe has been the chief casualty of its own policy.

Many such cases.

europe sucks anyway

[Kjell-Åke]

Originally posted by Prinny:

Originally posted by TGC> The Games Collector:

Many such cases.

europe sucks anyway

Now, yes. Bring the third world and ... well, u know

[Kjell-Åke]

At least america holds on to their conservative values

[pasa]

Sure, we all know if 1-bit ursula just had her way we all would be so much better off.

Seriously, could you tune your propaganda generator to add at least 1% of sense somehow?

EU is in tatters because of its BS leaders from tusk to ursula, and probably continue the freefall for yet another cycle as its population keeps electing those exact morons. Maybe after it hits the rock bottom something can grow in its place, though most likely not -- that would require people capable more than playing farmwille on the phone and reading ads.

[Walach]

So, erm, is there, like, any source for any of the claims? Like a graph, somewhere, maybe? Or cite a person who's an expert in some sort of field, like, any? :I

[$2 Hero]

Those 4 hour lunch breaks really paid off lmao.

[Cervix]

It is easy to blame Trump for pulling back and leaving Europe weak and defenseless, but he has only exposed what has always been a devastating flaw in Europe’s architecture. The EU was established and cultivated under the umbrella of American protection, its formula of economic integration never tested without the might of the world’s largest military power to back it up. The Union has never had to stand on its own.

It was neither realistic nor wise to expect America to always foot the bill for the continent’s security, and Trump has finally pulled the rug out from underneath this flimsy assumption. Europe has been left scrambling to find a way forward, as Putin continues his advances.

The latest trade deal signed with the U.S. only underscores this dependence, and its high costs. The $750 billion the EU pledged to spend on American energy are barely disguised payments for the continued presence of the American troops that remain on the continent. Europe, unable to furnish its own defense, is hanging on to whatever America is willing to provide.