(CNN) — European nations could be penalized by being stripped of some powers if they fail to manage their budgets, according to a memo from European Commission President Herman Van Rompuy leaked Tuesday.
The confidential memo, sent out to leaders ahead of the final European Council meeting of the year at the end of the week, comes only a day after the leaders of Germany and France agreed in Paris on a new fiscal pact they say will help prevent another debt crisis.
But Van Rompuy’s proposals, details of which were obtained by CNN, are perhaps even stricter than those of German Chancellor Angela Merkel and French President Nicolas Sarkozy.
The five-page memo proposes that the European Commission could perhaps be given the right to strip voting rights within the European Union from some countries who have been bailed out but are still not meeting their deficit targets.
Read the rest HERE.
It looks like the economic crisis will be used to unite Europe more tightly and to take away the sovereignty of the EU nations. This CNN report says further that the EU has until March 2012 to sort out the mess that they are in.
While this is happening, the world is preparing for war. The Chinese president urged the navy to prepare for war.( Read about it HERE.) Israel and Syria brace for regional war between mid December and mid Jan 2012 (Read about it HERE.) Russia is backing Syria (Read about it HERE.) And then there is still the Iranian thread were everyone is expecting a Israel strike soon as Israel will do whatever it takes for its security (Read about it HERE.).
The writing is on the wall. As we nearing the end of this year I can not help to wonder how bad 2012 will be. As we look back from 2010, there is a clear picture unfolding. Prophecy is in fast forward mode.