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STRUCTURAL FLAWS COMPARISON
EURO ZONE/SINGLE CURRENCY
MLA
Government spending is more than 50 per cent
of GDP in the euro zone, while government
revenues are about 44 per cent of GDP.
A one stop shop corporation with a $170
million dollar budget and $50 million
dollars in reserves duties with a self
appointing board selection process and
with duties to its members under
Corporations Law to be directed on key
issues by three Peak Councils (CCA - SMC
and ALFA) and to be managed generally
through RMAC by five different Peak
Councils (CCA - SMC - ALFA - ALEC AMIC) representing cattle and sheep
producers, lot feeders, live exporters,
processors and butchers with:
This deficit spending has been exacerbated by
a great structural flaw, the power grab by the
bureaucratic class and social democrats when
they expanded their reach via the introduction
of a single currency, to be managed by 17
different central banks, responsible to 17
different parliaments, reflecting 17 different
cultures.
To keep this flawed edifice going, the entire
euro zone ignored its own basic premise when
the euro was set up in 1999: that a member
state's budget deficit should not exceed 3 per
cent of GDP and total public debt not exceed
60 per cent of GDP. (In 2007 Australia's
budget was in surplus, with zero public debt Australian budget deficit is now just over 3%
of a GDP and public debt has risen from zero
to about 25% of GDP).
The result
Today, the combined budget deficit of the
euro zone is about 6 per cent, twice the
accepted maximum limit set down by the euro
agreement.
The combined public debt is 85 per cent of
GDP, more than 40 per cent higher than the
safety threshold the euro members set for
themselves.
The Problem
The disconnect between the sovereign power
of each of the 17 European states with respect
to policy, economic management and a single
European currency.
The Solution
To resolve the crisis, members of the euro
zone will have to give up basic rights of
sovereignty to a centralised European
technocracy with much greater monetary
powers. Or some members will withdraw
from the euro zone, with the certainty a deep
recession will accompany the process.
Structural Flaws Comparisons
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conflicting commercial interests;
different board election structures
(CCA - SMC based on electoral
college style, state farm organisations
and the others based on direct
election);
vastly different numbers of members
and budgets;
different commercial cultures;
funding problems.
The result
The result is an undemocratic well funded
structure to be managed under the MOU by
underfunded Peak Councils including CCA
and SMC whose boards are also not
directly elected. Half of the top fourteen
MLA levy payers are abattoirs but the
abattoirs, Peak Council, AMIC has no
direct role in the management of MLA or
its board selection.
The Problem
The disconnect between the sovereign role
of policy direction, funding and service
delivery.
The Solution
Combined policy direction, funding and
service delivery under one sovereign entity
for each of the sectoral Peak Councils.