Those Crazy Europeans! Money To Burn!!!


Nice.  I’ve written extensively about the economic troubles of the EU.  They have many countries in dire economic and fiscal positions.  The EU bureaucracy has been in budget negotiations for some time now.  And they’ve completed the deal!  Amazingly, they actually instituted a bit of financial restraint, but that was because of pressures from a couple of nations.

The seven-year budget was agreed at 960 billion euros ($1.28 trillion). By comparison, the budget for the years 2007-2013 was 975.777 billion euros.

I didn’t think they’d actually manage a budget cut.  Still, their priorities seem a bit skewed…… okay, a lot skewed.  They have nations limping along flat broke and only able to function by the capital infusion of their ECB and the IMF, propping up some of their dysfunctional governments.  They have a banking crisis in Spain and other Mediterranean nations.  They have unemployed and poor people.  In other parts of Europe they’ve had people freeze to death because of poverty.  So, if you had a little extra money laying around and if you were in charge of the EU, what would you do with them money?

  1. Infuse a few extra billion euros to the bankrupt governments?
  2. Use the money to prop up the insolvent banks?
  3. Find a way for the money to reach the most desperate who are freezing to death?
  4. Use the money to pay down some of the crap bonds they bought propping up the insolvent governments?
  5. Save the money for a day which has even more need?
  6. Spend the money on useless ineffective green energy schemes which raises the cost of energy and constrains economic output of the European nations, thus making each European a bit poorer?

If you answered “6!”, then you win the prize!  One would think their priorities would be a little more focused on the human suffering going on across Europe.

Climate Gets 20 Percent of Seven-Year European Budget

Climate action objectives will represent at least 20% of EU spending in the period 2014-2020 and therefore be reflected in the appropriate instruments to ensure that they contribute to strengthen energy security, building a low-carbon, resource efficient and climate resilient economy that will enhance Europe’s competitiveness and create more and greener jobs,” the final agreement states.

Fascinating.  The EU is going to pretend none of the horrible things which has happened in the climate madness never happened.  Spain, Portugal, Germany, Italy, Greece…… all have had horrible consequence of chasing this green dream.  And, many other nations as well.  Over $250 billion is going to this madness which was a huge contribution to the economic despair many are suffering from today.   

But, just in case you may have any misconceptions about how this might not reflect the will of the people of the EU in the undemocratic bureaucracy…….

the European Union is now engaging in a social media blast to “correct their misconceptions”. In what appears to be a coordinated troll-patrol, Nigel Farage notes the “very very scared” leaders of the European Union are spending taxpayers money to counter growing skepticism at the unelected leaders dragging citizens into a United States of Europe.

You people in Europe need to get your minds right!  No mention of how much the EU has allocated for this.

h/t to Steve and Dirk

This entry was posted in Climate, Economics. Bookmark the permalink.

11 Responses to Those Crazy Europeans! Money To Burn!!!

  1. DirkH says:

    Funny, isn’t it? And so predictable. Imagine they would switch to sane policies. I would have to switch sides again and turn from a bear into a bull again.

    But as I’m bearish since last week I totally endorse every attempt at ruining the EU economies further. Faster pussycat, I need at least a 25% bust.

    But I think I have top personnel working for me – Bernanke and Draghi.

    • suyts says:

      Yep, you’ve the best money can buy for those purposes! I’ve got to say, I’m very impressed with the commitment to economic destruction that is being displayed by the EU! But, I’m very confident that Obama and Bernanke can counter this latest move in the race to the bottom!

  2. Keitho says:

    The bulk of that cash goes on agricultural subsidies. Every EU country conforms with the CAP , Common Agricultural Policy, and they get big bucks for not growing stuff.

    Only a few percent go to admin and other stuff. The CAP is the real reason for this cash being extracted from members.

    • suyts says:

      Yeh, I was going to add something about the CAP in, but, that would require a more lengthy post. Nothing like keeping food prices up when the economy is in the toilet. And, yes, the US engages in similar stupidity.

    • DirkH says:

      “Big bucks for not growing stuff” has been changed to “big bucks for growing corn which is turned into biogas”. Up to 2000 or so you were right, I saw fallow fields; they have all made room for corn.
      At least here in Germany.

      • suyts says:

        Corn is big money these days. Too bad most people don’t eat the extra that’s grown.

        • DirkH says:

          German Greens are torn apart; high rents that the subsidized corn farmers can pay drive dairy farmers out of business; turning pasture into corn monoculture threatens storks, cranes and eagles (there are some in Brandenburg). Beloved Energiewende (energy transformation) threatens species and biodiversity.

          Carbon counters criticize burning food with some of their doubtlessly rigged carbon accounting exercises, say it doesn’t even save the climate (well I’m pretty sure it does exactly nothing to the climate one way or the other).

          Absurd theatre; post-normal brain malfunction mass scale. Good that they’re only burning corn these days, not books and jews.

        • suyts says:

          It’s a huge circle of fail. 😀

      • PhilJourdan says:

        Here in the US as well.

  3. Keitho says:

    A lot like the USA with its biofuels insanity.

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