http://www.zerohedge.com/news/ecb-issues-ultimatum-italy-threatens-halt-bond-purchases
Sunday, 6 November 2011
The Open Europe think tank is due to issue a report this week that says the Eurozone will, by 2014, have a permanent majority in the EU council of ministers.
This will make it extremely difficult for the other members of the EU to fight their corners in negotiations. The Eurozone is effectively becoming one country, which of course has always been the plan.
This will put sovereignty of nations at risk and for the UK severely damage the interests of the City.
As the members of the Eurozone integrate ever further their interests will become more intertwined and common. Their ministers will therefore tend to vote more and more as a caucus in EU votes.
The Telegraph reports the director of Open Europe, Mats Persson, as saying that this was a ‘timebomb’ as the Eurozone would be able to ‘bulldoze over the interests of those outside the single currency’.
The report it seems does not mention the imbalance of MEPs, where the Eurozone has a scary 64% of them. That leaves those countries outside the Eurozone with just 36% to vote with.
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