Daily Bell

Brussels plans 'treasury' for EU ... Brussels is to push for the creation of a form of "treasury" for the European Union with powers to issue bonds and reinforce fiscal integration ... "This will be a very effective tool to harmonise budget policies, but the way ahead may be very tough," he said. Germany is likely to balk at talk of an EU debt union, or "Transferunion" as it is described in Gothic terms by Germany's tabloid press. Jean-Claude Trichet (left), the head of the European Central Bank, called for a "quantum leap in terms of surveillance" to ensure that the financial crisis is never repeated. Mr Trichet said it would be extremely difficult to change the Lisbon treaty in the current climate but called on EU leaders to "exploit all possibilities" in the sub-clauses of existing legislation to advance policing tools. The EU institutions agreed last week on the creation of three super-regulators covering banking, markets, and insurance, each with powers to impose decisions by majority vote. This effectively deprives Britain of veto power over regulation of the City, although there is an "emergency break". The deal requires the assent of EU finance ministers next week. A spokesman for Chancellor George Osborne has already said the terms are "a very good outcome for the UK". – UK Telegraph

Dominant Social Theme: Thanks goodness the EU continues to acquire necessary powers.

Free-Market Analysis: In the other article in today's Daily Bell, we focus on how the elite back-story is in a sense falling apart with the foundering of the global warming promotion. We find much the same elements at work when it comes to the EU, which is being forced into existence as a super-state despite the resistance of those who will have to live under its increasingly pathological polity.

Of course there are plenty of justifications being floated for the EU's continued expansion, despite the evident incompetence and corruption of the Brussel's bureaucracy. These justifications are both practical and theoretical and can be found throughout the West – in Britain and the US as well as Europe. Some of it is blunt but some is quite elaborate.

Rest at the above link.