I've had it with this useless, ongoing charade to "save Europe." It's time to get serious and consider jailing and impeaching some of these European Union member leaders for requisite incentive.
Last week's EU show was pathetic. It made me throw a pack of gummy bears at my television screen. You'd think these European leaders were actually in a position to save others when they can't even save themselves as their own countries drown in debt.
As every trained water rescuer knows, when faced with a thrashing, flailing potential drowning victim who's trying to pull you under water as you attempt to save his life, you don't let him grab hold of you. Instead, you push him away and assume the defensive "reverse-and-ready" position until you can safely approach him from under water, lift him up and swim both of you to safety. So why was German Chancellor Angela Merkel clinging to French President Nicolas Sarkozy in a kissy-kissy death-clutch, both sinking like stones? Reverse and ready, Angie! Now you both risk credit downgrades, according to Standard & Poor's. Way to go.
Only British Prime Minister David Cameron had the good sense to stay ashore, assess his own debt-swimming skills as most likely poor, and save himself by walking away. Ten of the 27 EU countries have decided to wait on grabbing onto this sinking mess, saying they'll think about it first.
Here's the big new way the EU plans to save itself, according to its new statement: "General government budgets shall be balanced or in surplus; this principle shall be deemed respected if, as a rule, the annual structural deficit does not exceed 0.5 percent of nominal GDP."
Right. And I want to be the queen of England. Good luck with that.
Also: "As soon as a Member State is recognized to be in breach of the 3 percent ceiling by the Commission, there will be automatic consequences unless a qualified majority of euro area Member States is opposed. Steps and sanctions proposed or recommended by the Commission will be adopted unless a qualified majority of the euro area Member States is opposed."