The lawbreakers of the European Union worked on a European banking union at their last high level meeting. The international press is trying to keep up with the countless meetings, but it seems to be confused over how many have already gone down. Some say 20 crucial meetings have already been held, others have seen their count reach 22.
Regardless of the number of these useless reunions, the latest had an unusual characteristic: the new solution for the European crisis, the banking union, is illegal. The meeting did not take place with curtains drawn and around candles, like the secret meetings of the Communists were depicted in older movies, but in the spotlight.
But how can Europe's peace bringing leaders be lawbreakers? It would seem nothing is impossible, or illegal, any longer, for the European authorities. Financial Times recently wrote (author's note: before the latest summit of the European leaders) that "the plan for the creation of a single institution for banking oversight at the level of the Eurozone is illegal", according to some secret legal opinions drafted at the requests of the minister of finance in the EU.
The article in FT also states that "the plan exceeds the allowed boundaries for changing the governance rules of the European Central Bank", and the creation of a commission for overseeing the European banks at the level of the ECB can not be done without amending the European treaties.
Moreover, "EU countries which are not members of the Eurozone will not have a vote on the decisions of the ECB". And then, without even the most rudimentary knowledge of the terms of the banking union, how can the "representatives" of Romania triumphantly say that "we have successfully become part of the banking union"?
This "triumph" is nothing but the expression of the discharge they've been given for the purgatory which they will