Posts Tagged ‘democratic deficit in EU’

A pact to cut budget deficits is achieved at the cost of a growing democratic deficit
The Economist Magazine  –   Feb 4th 2012 | from the print edition

THOU shalt not incur a structural deficit. Thou shalt pay down thy excessive debt. Thou shalt adopt a balanced-budget rule in thy constitution, and subject it to the European Court of Justice…
It took just a little more than 40 days and 40 nights for Angela Merkel to bring down the tablets of fiscal law. At a summit in Brussels this week, 25 European leaders pledged to observe this covenant and made burnt offerings of their economic sovereignty. But the children of Europe are crying into the wilderness: “How long, Lord, must we be tormented by austerity?”

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