Germany Breaking Under Weight of EU: What Parallels with Canada ?

The European Union (EU) has many fascinating parallels with the Canadian federation. Unspoken by many, the most obvious is that it is propped-up primarily by only two members: Germany and Britain in the EU and by Ontario and Alberta (now joined by BC and Saskatchewan) in Canada.

The corruption that fiscal dependency has wreaked on EU member-states is highlighted by Greece's temper-tantrum over raising its state-mandated retirement age from 61 to 63, all the while German taxpayers - who retire at 67 - are expected to bail that country out after decades of reckless spending that rivals even Quebec's provincial government.

A McLean's piece by Mark Steyn paints a pretty picture of the whole scheme and why Germany's own problems at home will mean that it will soon be unable to carry the EU's (even) less frugal members.

Canada's demographic issues are not as acute as Europe's, but still fatally serious if issues like healthcare and public sector pension obligations are not brought under control.

By: Derek Fildebrandt
Posted: June 21, 2010
Topic: Alberta

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Comments

Sun, 2011-01-02 09:32 — Del in Calgary (not verified)

"Equalization" fund?

This fund is actually welfare under another name. Why Alberta and some other provinces are running deficits yet sending huge welfare cheques to Quebec is beyond stupid. That means taxpayers are borrowing money to send to separatists who aren't paying interest on these welfare cheques. We are enablers and cutting off these welfare cheques would be the best thing we could do to assist quebec to try to become self sufficient. When that happens, they will be able to separate sooner and go their own way instead of being a drain and a leech on Canada.

Cutting their welfare, (sorry - transfer payments)is a win - win situation for everyone.

Fri, 2010-07-09 14:11 — W H Lindemann (not verified)

EU Banker RipOff

You forgot to mention the Hedge Fund Hyenas who keep orchestrating the governments with a toxic derivative bubble and then tell the Greeks we want half your pensions. Ya think Canadians would be pissed off if the IMF wants half our pensions because they are entitled to be bailed out for doing their Casino Royale dance, not only in Greece but in every major developed country.

The entire economic system is a giant Ponzi scheme with fractinal reserve banking.

We need to lobby for one law and only one law and that it would be against the law for our government to borrow money. period.

Why would we allow our governments to continue to borrow money into existence when we have the Bank of Canada Act to create money into existence, without usury, and yes without inflation.

The BoC already controls the quantity of electronic money. There is just such a huge deficit in education in how we are robbed by the banks and ignorance by the populace is further trumped by this mountain of greed, corruption, and power mongering.

A great documentary to watch and pass on is The Secret of OZ. Cheers!

Wed, 2010-06-23 09:19 — An Anonymous Taxpayer (not verified)

Contributors to Federation.

Newfoundland is also a contributor now.

Equalization is just as bad for recipient provinces as it is for the contributing provinces. Harvard just came out with a study showing that economic stagnation often follows money from earmarks in the US. Locally, the Atlantic Institute for Market Studies shows the damage done to the Atlantic Provinces by equalization. It doesn't look at Quebec, unfortunately, whose equalization funds are more than the total of all other provinces combined.

Wed, 2011-07-20 14:35 — An Anonymous Taxpayer (not verified)

wake up

canada borrows money from the PRIVATE BANKS

and PAYS Interest

really bright WAKE UP end the fed end the fraud

make government smaller wake up stand up

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