With each passing day, the crisis becomes more insane. The leadership at the centre of this catastrophe have finally come up with an idea so shocking that I struggle to recount its key points.
There is a detailed plan in preparation where member states effectively hand over budgetary control to Brussels. If a country fails to meet budgetary targets, the EC will be able to propose detailed adjustments, which will then be put to a vote of of all other EU countries.
This isn't some mad ravings of an obscure think tank or an EC bureaucrat that has left the reservation. This proposal has four authors; Herman Van Rompuy, European Council president; José Manuel Barroso, European Commission president; Mario Draghi, European Central Bank chief; and Jean-Claude Juncker, chair of the eurogroup of eurozone finance ministers. A draft is ready and will be shortly sent to EU capitals for "consideration".
The centralization of budgetary authority doesn't stop there. The EU will collectively decide debt limits. Any country wishing to borrow more will have to get the approval of all other member states. Euro-bonds are also on the way.
Taken together these proposals would mean that the EC would become a European Ministry of Finance, deciding the expenditure and revenue decisions for the member states If this proposal is adopted, then EU member states will no longer be sovereign states. They will be, in effect, provinces of a European Federation.
I am going to ask two questions. These questions are so obvious that I really shouldn't be asking them. First, what gives these four individuals the right to produce a blueprint to end the sovereignty of 27 independent nations? Second, what gives any politician in any European capital the right to agree to such a reprehensible and disgraceful proposal.
There was a time when the people of Europe believed that sovereignty came from the people. Has that become an unfashionable idea? Is it too oldy-worldy and 20th century to believe that the people of Europe have a right to be consulted on their political future?
Something tells me that I am out of sync with the times. There is no room for nation-states in Europe. The European super-state is here and there is nothing we can do about it.