Countries  across Europe are spending more than they receive. In Britain's case, for every £1 of tax receipts the Socialist government spends £1.36 - a sure route to bankruptcy and disaster. (Source, Jon Moulton on CNBC, Wednesday April 28.)

The Germans, who run a tight financial ship, will now lay down the law and tell the spendthrift states that the price of a bailout will be to give up their remaining sovereignty and pool their financial resources, in a financial system run from the European Central Bank HQ in Germany.

Because many countries are broke- including Britain, thanks to Blair and Brown- they will have little choice, as the world is not about to lend more money to Socialist spendthrifts.

This is a big step towards the fast approaching world government, to come about purely becasue many nations are run by such stupid people that they cannot - or will not - balance the books. It's such fun to spend other people's money, after all.

Now here's a comment from the latest edition of Euro Realist, run by Derek Bennett:

POWER GRABEvery  European treaty signed by BritishMinisters, from the Treaty of Rome to the LisbonTreaty, has, despite the rhetoric, been a disaster forthe democracy and liberty of the British. Each of these treaties have come withlies attached. When the Lisbon Treaty was beingpushed we were told it was nothing morethan a “tidying up exercise”: some tidying up! Ithas shifted a massive amount of power away fromthe democratically elected governments of Europeto the unelected EU - which is now intent on wieldingthat power. It was widely that European leaders, namely those of France and Germany, are plotting to create a single ‘economic government’ usingthe power now given to the EU by the LisbonTreaty. They are looking for the EU to gainsweeping powers over economic policy, even incountries such as the UK which have not surrenderedtheir national currencies for the EU’s euro. The aim is to have an economic government of theEU headed by Herman Van Rompuy, he of the“charisma of a damp rag”! These plans are being made despite theperilous state of the euro, due to severe problemswith the Greek economy and the fact the EU willneed a massive bailout from the IMF. If this audacious power grab comesabout, which it could as early as next year, Britishrepresentatives will just be among those  of 27 nations tryingto get their voice heard under the leadership of VanRompuy.