Saturday, 23 April 2016

Barack Obama, our fair-weather friend, is wrong about the EU

You also have to be unusually well-engaged to understand that Obama’s foreign policy is disengaged: he has abandoned the Middle East and took a long time to care about Russian revanchism. So Barack’s advice comes from a very fair-weather friend. But few people will know that. ..... As the Telegraph pointed out yesterday, the EU is on the brink of collapse – it is British egocentrism to imagine we’re the only ones thinking of leaving.
The European Central Bank has had to institute pump-priming and low interest rates, squeezing savers. Greece is now a dead economy and, say experts, may have to quit the euro to reanimate its industry. Italy’s banks are rotten, bordering on collapse.
Meanwhile, the continent is attracting thousands of refugees and economic migrants: fuel to the fire......
Finally, there is that claim that the EU magnifies British influence. Obama writes: “You should be proud that the EU has helped spread British values and practices – democracy, the rule of law, open markets – across the continent and to its periphery.”
Mr President, you ought to know that the EU does not practice open markets but functions as a giant cartel protecting Europe against foreign competition. You should know that the EU constantly threatens the free operation of the City. You should understand that it has undermined British democracy by subverting Parliament."

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