EuroBonds and a European Union Treasury:
Two Answers to the European Union Financial Crisis
Mr. Draghi of the European Central Bank, why not go all the way and convert the European Central Bank into the Treasury of the European Union? After all, Angela Merkel is finally seeing the reality of a Unified European Union. Europe's best bet is unifying under one banner, one currency, one treasury, one central government, one flag, one national anthem, and one more time- EUROBONDS.
The European Central Bank has accepted and implemented my advice to purchase the various treasury bonds of the European Union nations to insure the stability of the Euro in spite of bond traders who have bet against the Euro. The Euro will not be allowed to fail, because if the Euro fails, the large economies of the world will be strained beyond their capacity within months of a collapse. Obviously, this can't be allowed to happen as a result of the failure of the European Union to establish the means to stabilize their currency. Yes, I said their currency, because it is the currency of the European Union, all except England, which I believe will come around once the legislative part of the unification has begun. After all, no one wants to be left out of the history books. It just wouldn't be fair!
The Finance Ministers need to sit down and negotiate the transition steps from their individual treasuries to the Treasury of the European Union. Why delay the inevitable? A majority of the debt that is owed by the member states of the European Union is owed to other member states. If this debt was acquired by the Treasury of the European Union, it could loan money to itself indefinitely to repay the debt, especially if the Treasury was partially controlled by the EU legislature and the European Union Monetary Reserve Banking System whose governors could consist of the Finance Ministers of the member states of the European Union. This blend of double security would prevent any sudden shifts in economic policy in the European Union. This provides a fail safe means of economic stability for the European Union.
You have followed my advice so far down this long road to recovery, take this step into unification gradually, and with the full permission of the citizens of the member states of the European Union. Let each and every citizen have their say in European Union wide referendum elections. Let your citizens vote on whether they want to be part of a United European Union. Let them vote on whether or not to adopt the Proposed Constitution of the United European Union that I have submitted to the European Union Commission Representatives, and the leaders of the member states of the European Union.
My consulting advice to the European Union:
1. Set a date for the entire European Union, all 28 states including Romania, to have a referendum vote on: unifying the European Union, the adoption of the Proposed Constitution of the United European Union, the transition from 28 different treasuries into a Treasury of the United European Union which would be jointly controlled by the European Union Legislature and the European Union Monetary Reserve (which would take the place of the ECB) and would be governed by the Finance Ministers of the member states of the European Union.
2. Have a meeting of the Finance Ministers of the European Union within the next month to schedule the transition of the European Central Bank into the European Union Monetary Reserve System including the legislative acts required to establish the governing board of of the reserve which would be comprised of Finance Ministers of the member states.
3. Prepare the legislation and conduct the vote necessary to provide for the referendum elections to be held across the entire European Union before November of this year as described above. Sign the legislation into law and implement it forthwith.
4. Pay me for my services which I value to date at $150,000 for the past thirteen months of advising you and sign a long term contract with me for $150, 000 per year for the length of ten years for advising, consultation services, and in depth research. I believe you owe me that much consideration. I have saved the European Union in the past thirteen months, as well as saving the EU billions of euros, and there is much more work to be done. While I would love to work for free, I too have bills and dreams that need to be funded. I would consider a lifetime contract for $100,000 per year with a 10 percent annual increase (all tax exempt) and a reasonably nice home in either Ireland, Scotland, or Belgium with 10 acres of land in the country to roam, and dual citizenship between the United European Union and the United States.
5. Adopt and ratify the Proposed Constitution of the United European Union by the end of this year if the referendum on the unification of the European Union is successful and the unification of the European Union is approved by its citizens.
6. Prepare your hearts and minds to work together to establish the world's largest “true democracy” in the history of mankind, a democracy that would be more of a democracy than the United States ever has been. Yes, I drafted a revised U.S. Constitution as well, but our politicians are afraid to establish a true democracy. May you be wiser than they have been over the years. Maybe you will do what is best for your fellow citizens and resolve your differences and work together to form a stronger, healthier United European Union that will stand the test of time.
My prayers are with you all.
Mark R. Winkle
Financial, Environmental, and Legal Research Consultant
Founder of the Winkle Institute of Economic Stability