Citing Sovereign Crisis, IMF Chief Dominique Strauss-Kahn Urges Leaders To Cede More Sovereignty To EU

I … Introduction

Probably for the first time, a world leader has used the word “sovereign crisis”.

A sovereign crisis and the solution of federalism or what some call global governance, would come to no surprise to the Apostle John, who on the island of Patmos about 90 AD, had a dream, that is a vision, detailing “things which must shortly take place”, Revelation 1:1. The Lord gave him no specific time frame, I suppose this was so that those who lived thoughout the generations would wonder and ponder, “Am I living in the age of the Beast System”.  Some people who write bible commentaries, of which there are quite a few, say “shortly take place”, means that when the events start to happen, then they will take place rapidly, like dominoes in a line falling one after another.

He saw a globalization as process. Specifically he saw a Beast System rising rising from the sea of humanity to rule mankind, via a world-wide system of ten regions of government, Revelation 13:1-4.  His vision was fulfilled in the call by the Club of Rome in 1974 for ten regions of global governance. One of these regions is the Eurozone, another is the North American Continent, and another is the ASEAN trading group.

The Apostle’s vision also call for a global governor, that is a Sovereign, rising to rule mankind, Revelation 13:5-10

The world leader will be complemented by the Seignior, Revelation 13:11-18, an Old English term meaning top dog banker who takes a cut. He is a also a Spiritual Leader with a unifying Global Vision. Eventually he will direct the 666 credit system,  Revelation 13:17-18, where one will be given the charagma, or mark, necessary to conduct commercial activity

II … Today bible prophecy is being fulfilled in the news as Philip Aldrick, Economics Editor of The Telegraph in November 19, 2010 article IMF Chief Dominique Strauss-Kahn Urges Leaders To Cede More Sovereignty To EU writes European nations need to cede more of their sovereignty and hand greater powers to the centre to avoid future sovereign crises, the head of the International Monetary Fund has said.

In a speech in Frankfurt addressing the sovereign debt crisis engulfing Europe once again, he said: “The wheels of co-operation move too slowly. The centre must seize the initiative in all areas key to reaching the common destiny of the union, especially in financial, economic and social policy. Countries must be willing to cede more authority to the centre.”

Europe is plagued by crisis because member states put too much faith in banks and let their public finances run out of control. Greece has already been bailed out and Ireland is expected to agree a €100bn (£85bn) rescue within days. Portugal is also at risk.

Mr Strauss-Kahn did not name any individual eurozone members, but warned: “The sovereign crisis is not over.”

Reform is vital but, he said: “The area’s institutions were simply not up to the task of managing a crisis – even setting up a temporary solution proved to be a drawn-out process.

“One [solution] is to shift the main responsibility for enforcement of fiscal discipline and key structural reforms away from the Council. This would minimize the risk of narrow national interests interfering with effective implementation of the common rules.”

Handing greater powers to the centre would lead to a greater loss of sovereignty for each of the eurozone’s member states. Monetary policy is already under the control of the European Central Bank, with national governments holding on to fiscal authority.

In proposals that are likely to play into the hands of eurosceptics in the UK and elsewhere, Mr Strauss-Kahn recommended more tax harmonisation and a larger central budget. Reiterating a now common theme, he added that the euro area needs to rebalance – with Germany reducing its dependence on exports and other nations shrinking current account deficits.

To manage and monitor the changes, he argued for a larger central budget – funded by “more transparent EU-wide instruments—such as a European VAT, or carbon taxation and pricing”.

Alongside tighter fiscal controls, he said labour market reforms in the euro area need to be centralised. “The euro area cannot achieve its true potential with a bewildering patchwork of segmented labour markets,” he said.

“These barriers exacerbate the diverging economic fortunes that threaten the euro area today. It is time to create a level playing field for European workers, especially in the area of labour taxation, social benefits systems and portability, and employment protection legislation.”

He added: “The only answer is more cooperation, and greater integration.”

III … Suggested Reading

We Live In The Age Of Global Government

IV. Keywords

sovereigncrisis, national sovereignty, globalgovernance, beastsystem, worldleader, globalcorporatism, world leader, global govenance, beast system,


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