Civil Uprising Escalates As 8th EU Nation Threatens Referendum

Tyler Durden's picture

It appears, just as we warned, that Brexit was indeed the first of many dominoes. Even before the Brexit result, a poll by Ipsos Mori showed that the majority of people in France and Italy want to at least have a referendum on leaving:

Meanwhile, over 40% of Swedes, Poles, and Belgians are in the same boat.

But now, as Martin Armstrong notes, Brussels simply went too far. They cross the line moving from an economic union to a political subordination of Europe. Now eight more countries want to hold referendums to exit the EU – France, Holland, Italy, Austria, Finland, Hungary, Portugal, and Slovakia all could leave.

With Hollande's approval rating at about 11%, and Merkel lucky she is not tarred & feathered, the Front National leader Marine Le Pen has pledged to hold a French referendum. Hollande rejected Le Pen's call for a refendum today during their meeting; prompting the following from the leader of France's far-right National Front party:

"We will see at the presidential election (next year) which candidates commit to organize a referendum.


You know I am one of those because for the past four years now I've said that six months after being elected, I would organize a referendum on the exit (of France) from the European Union, and that I would use these six months to negotiate with the European Union its transformation into a Europe of the nations, giving back to the French people four essential elements from its sovereignty: territorial, economic, monetary-budgetary and legislative."

Therefore, if LePen emerges victorious in next year’s presidential elections, that means the next major player in the EU after Germany is out and there goes the EU.

This entire civil uprising in Europe is underway ever since two months ago when Dutch voters overwhelmingly rejected a Ukraine-European Union treaty. Angela Merkel’s Germany now faces having to pay an extra 3 billion euros a year to the annual EU budget once Britain leaves.

This alone is prompting German government officials to propose that Britain is offered “constructive exit negotiations” to keep their dues coming in. Some are now talking about a quasi-membership for the UK calling it an “associated partner country” to keep the money flowing.

Yet the French government of Hollande just does not understand. The governor of the French central bank will exert pressure on UK banks. They are taking the view that it would be paradoxical if Britain could retain privileges after the withdrawal from the EU. First Banks are preparing apparently preparing to shift part of its employees in London to the continent. They obviously fail to grasp that it is European continental banks that are on the brink of collapse – not British.

Italian ministers warned on Saturday that the European Union MUST change course or risk total collapse after Britain’s vote to leave the bloc. The Italian  Finance Minister Pier Carlo Padoan said. “A double reaction to Brexit is under way, one financial, one political. The financial one, at least until now, is limited. I am more worried about the political one.”

Indeed, the unthinkable is happening. And they worry the pound might crash? Pay attention to the euro.

Furthermore, Portugal, with all eyes on Spanish elections, has made a clear threat to The EU (via WSJ)...

A key ally to Portugal’s Socialist government said the country should consider holding a referendum on the European Union membership if the EU decides to impose sanctions over last year’s missed budget target.


While Portugal’s Socialist party is deeply pro-EU and calling a referendum would be highly unlikely, Left Bloc’s move puts pressure on the government and Prime Minister António Costa, as well as the European Commission, which is awaiting Spain’s election results to decide whether both countries should be sanctioned after their deficits ended above a 3% of gross domestic product threshold.


While the Communists are openly anti-EU, the Left Bloc has said the EU must change, but not necessarily dissolve.


“If the European Commission undertakes the grave measure to apply sanctions on Portugal...the European Commission declares war against Portugal,” Left Bloc leader Catarina Martins said on Sunday.

In other words, if The EU dares to presure Portugal over its fiscal excess, then Portugal will leave.

And finally, for now, as if to reinforce the fears of EU dissolution, Slovakia's far-right People's Party launched a petition for a referendum on the country's future in the EU.

"Citizens of Great Britain have decided to refuse the diktat from Brussels. It is high time for Slovakia to leave the sinking European 'Titanic' as well," the party said.

Meanwhile, as Armstrong concludes, another critic of the EU has been the leader of Poland’s ruling party. Poland’s Foreign Minister Witold Waszczykowski also now responded and said that the UK referendum result shows the need for reform of the EU. “This is bad news for Europe, for Poland. (…) This is a great dilemma for the eurocrats, we all want to keep the EU, the question is in what shape.” He continued: “We will be trying to use this situation to make the European politicians aware why this happened. And it happened because this concept, which was created some time ago, is no longer popular in Europe.”  

Then again, the Hungarian Prime Minister Viktor Orbán intends to campaign in the British press for the UK to remain in the EU, according to a Hungarian government spokesman. Orbán is clearly one of those who is out of touch with the people and fails to understand that a federalized Europe is not going down very well with the people. He is extremely arrogant to think that he has any right to intervene or suggest that the vote be ignored.

To add insult to injury, Turkey proclaims the “Crusader union falls apart” demonstrating that memories in Europe go back centuries. The United States people did not want to enter World War II. Roosevelt even traveled to Boston promising that American boys would never defend Europe. Boston was a very Irish community and they were upset at being asked to defend Britain after their migration to the USA because of Britain. Old wounds never quite die.

As Doug Noland warns,

European integration is again under existential threat. And while disintegration will likely unfold over the coming years, a crisis of confidence in the markets could erupt at any point.


Confidence in Europe’s banks is faltering badly. I believe faith in the ECB’s capacity to hold the banks and securities markets together is waning.



How much leverage has accumulated throughout European periphery bond markets? And it is a harsh reality of Europe’s financial structure that de-risking/de-leveraging dynamics tend to see rising yields/widening spreads intensify market fears of bank impairment. Then bank worries further negatively impact sentiment in the markets and business community in a problematic vicious spiral.

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Looney's picture


Turkey proclaims the “Crusader union falls apart”

Merkel’s "carrot and stick" approach with Erdogan was a huge mistake.

Instead, she should’ve used another one – “carrot or fuck-a-goat”.   ;-)


knukles's picture

The Establishment would not be in this situation had they governed wisely as opposed to by force and propaganda memes in which they only came to believe.



nibiru's picture

Slowly the crisis and poverty are starting to creep into people's wallets - their course of econ101 started.


Now let's be more like Switzerland and not like the EU, shall we?

BaBaBouy's picture

""Brussels simply went too far... They crossed the line moving from an economic union to a political subordination""

SAME F'ing SHIT... POLITICOS Grabbing Maximum POWER, Subjugating The Sheeple...

... On Another Note, Goooooo Hellery ...

lakecity55's picture

Go, Rodent, Straight to Jail. Do not pass "go."

Kirk2NCC1701's picture

Male or Female section?

I mean if you want to punish her, not reward her.

Oracle 911's picture

Slovakia's far-right People's Party?!

More like far populist party. Before Anyone downvote me, I know what they are doing.

BuddyEffed's picture

Just wait till CDS get triggered in this mess. That's freakin HUUUGE

Kitler's picture

Yes there is a lot of money that is going to be made off the collapse

Hopefully the bankers can get out alive but the public may not be so willing to pay them for their arsonous handywork this time around

In that case they won't be eating

BurningFuld's picture

Look the fucking Banks knew there was a 3% GDP cap on deficits and yet they kept right on lending money to Greece Portugal etc. Let the fucking Banks die! It is your only way out EUROPE.

Lore's picture

Quite right: the problem boils down to exploitation by psychopaths in this extraneous, bloated tumor of supranational government and banking. It's interesting to consider how many of them may end up swinging from a gibbet.

it aint paranoia if they really are out too harm you's picture

In the current bizarro world, no CDS EVER gets triggered.  Haven't we learned that already?

GreatUncle's picture

They rejected it ... that the last I heard,

Kassandra's picture

You are completely correct.

GreatUncle's picture

Needed to build it with democracy in mind not individual nations.

You get to the end no democracy = no moderation or arbitration so everybody hates it.

Then it falls.

qomolangma's picture

The Establishment's eventual goal (or their Masters) is population culling... Georgia Guidestones!


Nothing Ever Happens's picture

Instead, she should’ve used another one – “carrot or fuck-a-goat”.


You lost me here. How would using something he would consider more attractive than the carrot work in her favor?

qomolangma's picture

How about let Erdogan f*ck Merkel??? Two birds at one hit

Burticus's picture

When Erdogan fucks Merkel 's goats

The press cannot take any notes.

Since his Muzzies use lube

As they ream Europe 's tube

The jism goes right down their throats.


SuperRay's picture

There is a war going on: the elites vs the people. The people have been dying slowly, the elites not at all. When the moronic people start a psyops against law enforcement agents, many of whom believe in the law, we'll know the people are engaged. "We are you brother, your mother, your daughter, your son. Stand with us!" Elites will then shit their pants.

DosZap's picture

Amen,Le Pen is a FN leader and she is very  PRO Nationalist,anti immigration,uber conservatives.

Same basically as our Center Right here.

Grimbert's picture

She's a nationalist and a socialist, for nationalisation, etc. Farage refused to form a bloc with her in EU parliament, her party is a nasty piece of work.

GreatUncle's picture

LMFAO and the other side is not?

qomolangma's picture

And first of all what's wrong with the NATIONALISM ??? The globalism is killing!

ACES FULL's picture

A big fucking war will fix all this shit. Just gotta finish picking sides.

Chris Dakota's picture
Chris Dakota (not verified) ACES FULL Jun 26, 2016 2:51 PM

I've had it with Jewrope, better side with Putin.

peddling-fiction's picture

I have already been on Putin´s side for a while now.

No teleprompters needed... <chuckle>

Vageling's picture

Sell that to European sheeple. Emerging Markets? Uh.... ?! We need Russia! They are good trading partners. We can easily side rail the US! And their silly so called allies! 

GreatUncle's picture

Well I think Putin and Xi make a great team ...

qomolangma's picture

Yes, IIRC, five times visits by Putin to Beijing (or one-to-one meeting with Xi) within a couple of years.

Implied Violins's picture

Really? Ever hear of 'Good Cop/Bad Cop'? Putin is a part of this too -

From Brandon Smith:

Russia and China are owned by the same globalists that control the U.S.

It's all part of the plan to get the people to buy into the BRICS system, which will really be worse than the current system, as it will be digital - and ultimately controlled by the same people who own the CURRENT system.

qomolangma's picture

Nope, don't buy into Smith, they both happen to play along with the currently established system, which was installed after WWII. They will be departing once the current system is sinking. And indeed they're doing. Don't think they both will hand over their nations to the control of the cabal globalists.

peddling-fiction's picture

To me it is clear the Western civilization is rotting at the core.

One symptom is their debt. Another is their constant lying and hypocrisy.

The spiritual and moral decadence is appalling.

So for all these reasons, looking towards Moscow makes it a no brainer.

No place is perfect, but at least they are headed in the right direction.

guitarzaan's picture

Makes no difference which side is 'chosen.'  Bankers will win again and innocent people will continue to suffer because of their unbridled lust for money and power.  The real war needs to be fought against the central banksters of the word and nothing less than their complete and utter destruction will mark the succesful end of that war.


People need to learn to distinguish between the love of money and money itself.  One always leads to death and despair for many;  the other is merely a form of exchange of value for value supported by rule-of-law.

Troy Ounce's picture




Imagine all the useless schmuck with EU entitlements: tax free salaries, lease cars, pensions!

Must be total panic!

DosZap's picture

Wonder if Vive la France!,will clean out the Sharia Infested rats nests?.Damn well better if they want to survive.

The NO  GO  ZONES, gotta GO!. 

J 457's picture

The makers vs the takers.

Francis Marx's picture

I hope that spreads here in the future with the states and the Fed government

Possible Impact's picture

"Brussels simply went too far.

They cross the line moving from an economic union to a political subordination of Europe."


A Miltary subordination was next...

Blankone's picture

Yes, they were working quietly on military subordination, and they have not given up.  In the last two days the idea of a "joint" military has been brought up openly and may be pushed with more force - without any pesky votes but by decree from the unelected central EU rulers.

Grimbert's picture

They were holding that one back til after the referendum

Sirius Wonderblast's picture

There can be no doubt of the EU's totalitarian bent, and in casting my vote on thing on my mind was I did not want a European Army posted here "protecting" me (like, from what?)

knukles's picture

This is how close the Krauts came to winning WWIII.
Not a bad run coming all the way from the Hotel de Bilderberg in Oosterbeek, the Netherlands where the Bilderberg Group first met in the 1954, to almost taking the bloody whole of Europe!