- Commission: EU Must Curb National Sovereignty to Kill Populism
by Virginia Hale, https://www.breitbart.com/
The European Union (EU) must bring an end to national sovereignty over finance with the creation of a “eurozone budget” in order to kill off populist politics within the euro region, according to the Commission.
Economic affairs chief of the EU’s unelected executive arm, Pierre Moscovici, said that “more progress in European integration” is required to head off populism, which he described as “a major threat for our democracies, for liberal democracies, for the rule of law and for European values”.
“Having a eurozone budget is absolutely decisive if we want to address the populist challenge, the burning question of inequalities,” he told an interview with Euractiv.
Speaking after a talk at New York’s European American Chamber of Commerce, Moscovici said: “The European crisis is no more an economic crisis. It is an inequality crisis. It is a political crisis. It is a crisis of delivery. We need to deliver more. That is what eurozone reform is about. It is not technical. It is highly political.”
Turning to talk of Italy, where citizens elected a coalition between the Eurosceptic, anti-establishment Five Star Movement and the anti-mass migration League earlier this year, Moscovici warned against the government’s defiance of EU diktats demanding a steep curb to public spending.