Saturday 23 July 2011

Britain has a once-in-a-generation chance to break free from Europe

Daily Mail
"But this deal is nothing like the end of the Euro crisis. It is merely a respite before there is more pressure for bailouts for other over-extended Eurozone countries.The only long-term solution to this — other than an extremely messy break-up of the euro — is for the Eurozone countries to integrate much more closely and become, in all but name, a United States of Eurozone (USE).

That means Germany and France imposing one economic policy, with taxpayers in wealthy France and Germany supporting the poorer southern European states in return for them living according to German rules, with tight spending constraints.And in a shift of historic proportions, this is the path the two most powerful leaders in Europe, France’s President Nicolas Sarkozy and Germany’s Angela Merkel, have chosen.They will deny it publicly, to try to reassure German taxpayers. But their decision to stand behind Greek debts will mean the steady expansion of their authority over economic policy in other Eurozone countries. The Germans are paying the piper so they can call the tune.
For Britain this has huge implications. We are in the European Union, but like ten other EU countries not in the Eurozone. Joining the ‘USE’ is clearly out of the question.Instead, (as I first argued last year) we have a once-in-a-generation chance for Britain to renegotiate its membership of the EU."

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