European sovereignty/nationality/unity confusion

Since the 2011/12 debt crisis in the Eurozone, we have heard several strong statements not only from central bankers but leaders too that how irreversible is the euro and how important it is for the members to stand together in solidarity. They also said how important it is to integrate further. Recently, after President Trump of the United States slammed the European Union by calling it a vehicle for Germany, European Council President Donald Tusk called on the EU leaders to take up extraordinary steps to ensure the integrity of the Union and he also pointed out that only by standing together, the European Union truly has a voice and independence or else they become a victim of countries like China, Russia or even the United States. He does have a point. What a noble idea, that all are standing together in solidarity and in peace and in harmony. Or is it?

The behaviors of the countries’ leaders say otherwise. If there were solidarity, if all are equal, then, right now, the Greek yields wouldn’t be skyrocketing. There wouldn’t have been huge debt overhang in the tune of 175 percent of GDP. There wouldn’t be a German hindrance in creating a bad bank with toxic loans.

Does Germany have a point? It doesn’t want its taxpayers to pay for the Greeks or the toxic loans. Make sense? Yes, it does. But that means nationality. One can’t exercise nationality while condemning it. It makes no sense. Germans benefit from a weaker euro immensely and have since its creation but they do not want to pay for it.  It can’t be denied that the recovery in Greece would have been much faster if it had Drachma than euro.

As the days pass by, we are increasingly becoming confused with this nationality among no-nationality condition and we guess lots of people too in Europe and these people are looking for an alternative in the European right-wing parties to have a voice.