About that state sovereignty thing… (Karl Denninger)

Karl Denninger is one of the more astute observers in the blogosphere and recently he was musing on the European situation decrying the fact that Trichet implied he would like individual states in Europe to cede sovereignty to the ECB

http://market-ticker.org/akcs-www?post=187344

I can’t post on Mr. Denninger’s forum because the procedure is much too complicated for someone that would only post very occasionally so I decided to make a post of my own.

The reality is that through the Lisbon Treaty, a whole chunk of sovereignty has already been ceded to an unelected EU executive body. For the ECB and the rest of the governing elite to now complete the legislative and juridical take over of Euroland,  is only a formality.

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