Mark Rutte, the Netherlands PM, has replaced the UK as head of the EU awkward squad, digging his heels in over the proposed Covid-19 rescue package. He along with the other ‘frugal four’ (Sweden, Denmark, Austria – and Finland) thinks the suggested €750bn ($857bn; £680bn) is too large, should be repayable loans not grants, evoking howls of blackmail from the Italian PM. And he thinks it should be withheld from nations who do not meet certain democratic principles, which has incensed Viktor Orban of Hungary and Poland.
This month was always when the EU was going to face its stiffest test with tr Uranus picking up the conjunction to its 8th house financial Moon and squaring the 11th house Uranus for the first time, and repeating into early 2021. All of which adds up to a series of massive jolts – an effective bomb – under EU finances and future plans.
Mark Rutte, 14 February 1967, The Hague, 6.53pm, is a Sun Aquarius square Neptune; with his Sun on the focal point of a Yod to Jupiter sextile Uranus – so can be domineering but also a catalyst for change. What is significant is his Saturn in Pisces opposition Uranus (Pluto) in Virgo. His Saturn squares the EU Gemini Midheaven and is conjunct the EU’s Descendant – making him a block on warm relations and forward movement, unless Saturn’s dictates of austerity, decency and obedience to rules are adhered to.
Tempers are flaring and the summit is dragging on without great hopes of an agreement – though the EU usually manages to cobble together something even as it hangs off the cliff edge. See previous post on EU finances – May 21 2020.
I’ve added a chart of when the deal was announced for anyone who cares to comment.
Add On: Two thoughts from commentators.
Firstly: They ducked the issue of creating a link between the rule of law, allowing Hungary’s autocratic Orban (and others) to think he had won.
Secondly: The EU has set itself on a path to fiscal transfers and mutual debt issuance — something that had, until very recently, been a federalist pipe dream. “If you had told me a year ago that the EU would be agreeing – a budget like this I would have said you’re daydreaming,” said Maria Demertzis, a think-tanker. “Tuesday’s package may officially be a temporary crisis measure, but it could well end up becoming permanent by default — notwithstanding the scepticism of the frugal states.”
Macron said, “- we’re creating a budget in the eurozone. So this is indeed a moment of great change for Europe and for the eurozone.”
It remains to be seen whether the frugal five will allow it to become standard practice moving ahead. And whether the EU as a standard bearer of values and rule of law has allowed itself to become devalued.
Also see: https://www.telegraph.co.uk/business/2020/07/21/europes-750bn-recovery-fund-economic-pop-gun-political-howitzer/





























