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In other words, fines, sanctions, and/or other measures will be imposed - supposedly. However, doing so depends on most member states agreeing. Wolf said he's "unconvinced that turkeys will vote for Christmas."
They haven't before and won't now let unelected bureaucrats impose harmful measures. So "(w)hat is the (European) Commission going to do if they still fail to comply? Take them over? The answer (supposedly) is: yes. This is a constitutional monstrosity."
It's also an economic one driving nails into a failed system. Hammering weak economies with fiscal austerity assures weaker ones heading for implosion.
Nonetheless, Wolf sees Europe adopting an "orgy of fiscal austerity" besides much more already imposed. As a result, expect deeply troubled countries to face "long-term structural recessions," or to "put it bluntly," he says: "the single currency will come to stand for wage falls, debt deflation, and prolonged economic slumps."
Wolf didn't explain that working households across Europe, America, and elsewhere suffer most to assure bankers are paid, instead of holding these bandits accountable for the crisis they created, nationalizing insolvent ones, or shutting them down altogether.
The Daily Bell's Negative Outlook
Given numerous failed summits and destructive policies overall, the Daily Bell asked if planned euro collapse is planned. "The chaos is as undeniable as it is undesirable," it says.
EU and other Western nations support "the idea that increased centralization and globalization are necessary in the modern world."
The notion is wrongheaded and destructive, but their agenda plans world government down the road. What's in play now perhaps is part of this larger trend. Strategically they hope creative destruction can produce order on a grander scale.
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