Anyone who thinks that the US debt is the only problem had better starting looking around the globe. European Commission President Jose Manuel Barroso on October 21st has made a desperate plea for extra cash to keep the institution afloat warning that the EU Commission would be technically bankrupt “by mid-November.”
While the opening the European Parliament’s plenary session in Strasbourg on 21st of October was greeted by an urgent request for an extra €2.7 billion in a supplementary budget for 2013 in order for the commission to meet its financial obligations, this measure was passed in an extraordinary secret session. Normally, such sessions are accessible via the internet. This one was a closed door secret session.