The European Union (EU) is increasingly drifting apart. The EU may be on the verge of collapse with Britain (Brexit) being first step towards the union’s disintegration.
According to the German Institute for Economic Research, Italy’s ailing ‘Financial System” and “Weak Banks” are putting the EU @ risk of destroying the Euro Zone. The level of welfare in Italy is now as it was in 2000.
If nothing changes the Italians might not want to stay in the Union anymore, making Italy’s potential withdrawal from the monetary Union to be a great shock. This would have drastic consequences for the Europe’s unity. There is a danger that other states, like Greece, Portugal and Spain will follow.
Eastern states are also increasingly distancing themselves from the EU. This is a dangerous development, because what Europe needs right now is stability. However the German government will be reluctant to approve a European aid program for Italy, but as German taxpayers will have to bear the main burden, the Bundestag is very likely to oppose such plan.
As 52% of UK citizens voted in a referendum to withdraw from the EU, the British Government, now under Theresa May, has yet to trigger Article 50 of the Treaty of Lisbon, to start the formal process of exiting the EU.
Sputnik News.com / AA Magnum News 2017.