EU Seppuku as Schadenfreude
Long ago in the fairy tale land of Europe where economic windmills from Netherlands to the beaches of Greece there lived many upon many Don Quixotes, and their name was Eurocracy. Charging forth towards one political windmill unto the next they were set upon by their love for economic growth their ‘Dulcinea’ they began imagining schemes at stimulating it via various improvements. First they created a network of states that used their markets as leverage to pry open other markets and set their rules upon those markets so that only they could succeed there, for it was to their benefit and their benefit only was this network created. Then this network had to expand and expand to put growth on the pedestal of progress and fruition and the ultimate good for not the suffering of humanity but the exponential profit margins of benefactors of the Don Quixotes had to be pleased and respected. Alas, exponential growth may not last, and sooner or later a Europe whole and free, seems broken and indebted with no ‘Dulcinea’ (economic growth) to be found.
This is where the wonderful tools of sanctions under the guise of democracy and freedom for all, more for some than for others of course were brought to bare on other countries that had to just had to give market access and bend to the will of omniscient and wise Eurocrats, countries like Iran, Libya, Yugoslavia, Russia, Ukraine, and so on, for market access for enterprises is the greatest good ever far more important than peoples lives or well being. FREEDUMB!!! FREEDUMB!!! they cried as they bombed Lybia to take over the oil fields for western firms that promoted peace democracy and freedumb.
Alas, Satire or Irony does not do justice to the final act that is about to unfold.
The problem with marginal leverage based upon exponential growth via market penetration is at some point if you are pressed downward by impeding market access your financial system implodes since it was never ready for any pushback or strain.
EU is forging forward into the abyss as it gleefully persuades itself that what is being done is for the greater good. Yet, if one imagines a short interlude that clips trade flows for a period of time that kaleidoscopes Europe into complete and utter insolvency disrupting inter- and intra- national trade in some ways perhaps poetic justice may exist. Granted no solace will be had for millions upon millions of people guided by Don Quixotes, because sometimes the windmill does hit back especially if your charging it with a horse and it weighs a few tons.