The Economy and Stability of the European Union

Members of the leading Troika of the African Union, namely Rwanda, Egypt and South Africa were invited to the G7. There is nothing accidental about it; Africa is critical for the European Union’s stability. Here is why:

It’s great that Germany is finally thinking about spending 50 billion euros to stave off recession. It’s just a shame this is all about itself, and not the Eurozone.

By manufacturing on cheap labor in Eastern Europe, selling at high price in Western Europe and spending less in the Eurozone, Germany has been exporting unemployment and austerity in Europe for decades.

I believe in Unions, federations and economic zones, etc. but the EU has only benefited Germany while it bullied small countries, suffocated SMEs and depreciated lifestyle.

Portugal, Spain, Italy and of course Greece are one headwind away from a recession.

The rhetoric has been that germans save more and greeks are reckless and lazy. That’s nonsense!

Each European country has a culture and a lifestyles and specialized economies which were tailored on their culture and climate. 

Typically, countries from the South did light manufacturing, tourism, and hospitality in general, retired early because of the sun and absence of a Winter.

But Unions were strong and workers’ rights protected. Farmers, for instance were able to negotiate, wine makers, cheese makers, small shoe makers, family business were able to negotiate prices that are within margins – while sensitive sectors of the economy were protected by national systems.

With the Eurozone, Germans sell everything and buy nothing. Poverty is on the rise, lifestyle has declined, hope is gone. 

In politicians’ rhetoric they promise the ‘European glorious (colonial) past’, accuse migrants and china as the source of misery: that too is nonsense.

The colonial past won’t be coming back, and Europe’s privileged presence in Africa will only continue to decline.

For instance if the Franc CFA was to be phased out, French companies: Total, Areva, Bolloré removed from West Africa -France would lose around $ 500 Billion in annual income: that’s a fifth of France’s GDP and more than Nigeria’s GDP. Nigeria is leading Africa’s economy.

I digress, Europeans and Americans may make noise about China, in reality, the only reason the EU hasn’t collapsed – is because of China.

I see western media saying China is taking over Africa and I laugh, because the magnitude of China’s hand in Europe, Australia, USA economies is huge

You can go to the Louvre, the Coliseum, the Goudi cathedral is Barcelona at any time of the year and the majority of tourists will be Chinese. Not South East Asians: Chinese! In fairness they are 1.5 billion people…

It is more striking in Greece: The capital city Athens is a ghost city, people have departed to Germany to look for work. but the islands are full of Asian and Emirati tourists.

In all those European cities you see German cars, electronics, etc. but you hardly ever see a German tourist.

This trade imbalance puts the Eurozone in a very precarious position and poses a serious risk to European and global stability.

Whenever Europeans fight, we usually have a ‘World War’. And typically when Europeans experience poverty, they turn on each other violently. Colonialism, Neo-colonialism after it, and now China’s money are the reason Europe has been at peace for over half a century.

I hope with Africa’s economic upsurge and it’s continued emancipation from Europe we become, like China, a client to Europe, not a subject of exploitation-which might ultimately turn violent for Europe too

I also hope Germany reevaluates its European policy for self-preservation

The rise of right wing movements across Europe isn’t a reaction populism, it is a reaction to the strain on small European countries and decline in geopolitical relevance.

Now the media and the systems have succeeded in blaming ‘others’ (non Europeans): China, migrants, Al-Qaida, ISIS, etc. That fallacy won’t last

The day Europeans realize their biggest problem is Germany, again, we are contemplating the breaking-up of the EU – at best.

Many things can happen: Chinese stop travelling to Europe, West and Central Africans phase out France and NGOs, ISIS die out. All these things have an immediate repercussion on European stability.

There you have it. I see Europeans making all sorts of claims about Africa, some without visiting, others with just little of no awareness, I thought nothing prevents me from making one on the European economy. At least I did recently visit every place that I mention in my thread

Next time I will speak to you about Turkey and the geopolitics involved.

After that, Morocco.


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