AP is reporting the leaders of France (Macron), Germany (Merkel), and Italy (Genteloni) have released a joint statement saying the Paris Climate Treaty is irreversible and cannot be renegotiated. Effectively shutting down the only option President Trump left on the table for them:
Pay attention to the last sentence in the AP joint statement snippet:
French President Emmanuel Macron, German Chancellor Angela Merkel and Italian Premier Paolo Gentiloni said in a joint statement Thursday that they take note “with regret” the U.S. decision to pull out of the 2015 agreement.
The three leaders say they regard the accord as “a cornerstone in the cooperation between our countries, for effectively and timely tackling climate change.”
They added that the course charted by the accord is “irreversible and we firmly believe that the Paris Agreement cannot be renegotiated.”
Macron, Merkel and Gentiloni say they remain committed to the deal and will “step up efforts” to support the poorest and most threatened nations. (read more)
Oh, so the Paris Treaty was about economic wealth distribution and not ‘climate change’. Hey, thanks for the admission. However, the real issue for The Three Amoebas is the scope of the U.S. exit and how that impacts their own individual and collective economies.
Remember, the Paris Treaty has mandatory payments into a rather suspicious fund presumably controlled by the International Monetary Fund (IMF). As with all global collective payments the U.S. was going to be the biggest depositor; now that void will either shrink the multinational financial interests, or they will need to pay more themselves.
The EU in general, and France, Germany and Italy specifically, are also going to have to find a way to cover the €15 billion Brexit shortfall for their collective social multicultural economies.
The U.K. pays the EU approximately £1.5 billion per month as part of the redistribution model within the economic collective. Germany, France and Italy will soon have to cover that amount or reduce the social benefits within the EU and enter a phase of austerity.
That’s the underlying issue for the three amoebas going forward. They will have to pay more into the EU and will simultaneously be faced with renegotiated bilateral trade agreements from the Trump economic team while their collective economy is chained to the Paris Climate Agreement and the U.S. is not.
The EU will be at a very big disadvantage when entering negotiations with the U.S. Trade team.