EU Wants 5-10% of GDP

There’s not a lot I can say after a post title like that.

A “special committee on the financial, economic and social crisis” (un-named so that could very well be its title) has reported to Parliament that the answer to the near-collapse of the euro is deeper economic and political integration. To fund this they’ve suggested the creation of an EU Treasury with each member state contributing between 5% and 10% of GDP to the EU budget.

Good luck with selling that one to the British people, Cameron.

Of course, it really isn’t about improving the economy of Europe, of job creation, red tape reduction or improving the quality of life for European people. It’s all about “maintaining or improving [the EU’s] position in the world,” according to Wolfgang Klinz, a German Liberal MEP who chairs the committee.

The report will be debated and voted on by all MEPs in July.

Go on, I dare you. We’ll be waiting.
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