The Franco-German Relationship is Clinically Dead

The 1992 Treaty of Maastricht came two years after the unification of Germany and laid the groundwork for the 2002 introduction of the euro. The French elite was afraid for the resurgence of a new German powerhouse. To eliminate the dominant Deutschmark, they wanted to extend the use of the German currency to the whole European Common market and have it renamed to the euro. In 1992, Le Figaro wrote that the “Maastricht is the Treaty of Versailles without war”. A French observer noticed, “Maastricht is only a calculated move against the predominance of the Bundesbank and against an independent German currency.” Continue reading

Europe’s Inevitable Intervention in Libya Will Add 1.3 Million Barrels to the World Oil Glut

LibyaEUEurope is planning on recolonizing Libya, and so it will send in armed forces in the coming months to restore order and stem the flow of migrants coming from Africa. If this expedition army succeeds in securing parts of the country and restoring law and order, Italian and German engineers from ENI and Wintershall will follow suit to help resume the country’s oil production, which will add 1.3 million barrels per day (Libya produced 1.7 million barrels per day before Muammar Gaddafi was toppled in 2011) to the world oil glut . Continue reading