On 27th June Guy wrote:
“What ‘ructions between the Germans and French on this very issue’ do you refer to? I have had a look through various media and can find no reference…”
- Last month's EU 'mandate' for a Constitution granted France an amendment on free competition (in the process overturning one of the key principles of that quaint old Common Market). This caused more than a few eyebrows to be raised, especially in Berlin.
On Monday night President Sarkozy broke EU convention by attending the latest meeting of the 'Eurogroup', usually made up of the finance ministers from countries with the Euro. France's economy has deep structural problems. Mr Sarkozy knows this and was elected on a pledge for reform. As a result, on Monday night he broke ranks by hinting he'll put France's fortunes ahead of the EU's.
How so? The Euro rests on the concept of economic stability, the so-called 'stability pact', where the Euro countries set common economic targets for the good of the currency. Sarkozy has signalled he will cut taxes in France by €15 billion. This will break a key commitment of the stability pact, i.e. bringing deficits to zero by 2010.
So, Sarkozy has a choice - put France's economy first or stick to the common good. He's siding with the people who elected him.
The problem is, Germany gave up the Deutschmark on the tacit agreement of a strong Euro. France's latest moves could undermine this. Berlin ain't happy, believing Paris is weakening the European Central Bank and, in the process, damaging the Euro zone's credibility.
Sarkozy upset the applecart further by pushing for a former French finance minister - Dominique Strauss-Kahn - as the next head of the International Monetary Fund (France already hit the trifecta via Pascal Lamy heading the World Trade Organization, Jean-Claude Trichet as president of the European Central Bank and Jean Lemierre running the European Bank for Reconstruction and Development).
Monday was a very public manifestation of cracks in the Euro zone and the Franco-German relationship. If the 'one size fits all' constraints of the Euro can compromise France when things are relatively stable, imagine what could happen when the recession comes.
This brings up a wider issue too - should a national leader put their country's interests before the EU?
If the EU proposed constitution goes through, elected leaders will be obliged to show primary loyalty to the EU. On Monday night, Monsieur le President anticipated this change by getting his retaliation in first. |
Topic | Date Posted | Posted By |
Ireland to hold Refendum on new EU Treaty - should the UK ? | 23/06/07 18:27:00 | David Giles |
Re:Ireland to hold Refendum on new EU Treaty - should the UK ? | 23/06/07 18:42:00 | Jerry Makides |
Re:Ireland to hold Refendum on new EU Treaty - should the UK ? | 23/06/07 18:46:00 | Jan Jarvis |
Re:Re:Ireland to hold Referendum on new EU Treaty - should the UK ? | 23/06/07 18:49:00 | David Giles |
Re:Re:Re:Ireland to hold Referendum on new EU Treaty - should the UK ? | 23/06/07 19:06:00 | Helen Fogarth |
Re:Re:Re:Ireland to hold Referendum on new EU Treaty - should the UK ? | 23/06/07 19:10:00 | Jan Jarvis |
Re:Re:Re:Re:Ireland to hold Referendum on new EU Treaty - should the UK ? | 23/06/07 19:17:00 | David Giles |
Re:Re:Re:Re:Re:Ireland to hold Referendum on new EU Treaty - should the UK ? | 23/06/07 22:02:00 | Jan Jarvis |
media manipulation | 23/06/07 22:18:00 | Jerry Makides |
Re:media manipulation | 25/06/07 11:18:00 | David Giles |
Re:Re:Re:Re:Re:Re:Ireland to hold Referendum on new EU Treaty - should the UK ? | 25/06/07 12:23:00 | David Giles |
Re:Ireland to hold Refendum on new EU Treaty - should the UK ? | 24/06/07 09:24:00 | Peter G Boardman |
Re:Re:Ireland to hold Refendum on new EU Treaty - should the UK ? | 24/06/07 10:21:00 | Peter John |
Re:Re:Re:Ireland to hold Refendum on new EU Treaty - should the UK ? | 24/06/07 22:03:00 | Richard Greenhough |
Re:Ireland to hold Refendum on new EU Treaty - should the UK ? | 25/06/07 12:36:00 | Will Watson |
Re:Re:Ireland to hold Refendum on new EU Treaty - should the UK ? | 25/06/07 13:46:00 | Richard Greenhough |
Re:Re:Ireland to hold Refendum on new EU Treaty - should the UK ? | 25/06/07 13:54:00 | Helen Fogarth |
After Iraq, can we trust Blair anymore ? | 25/06/07 14:28:00 | David Giles |
Re:After Iraq, can we trust Blair anymore ? | 25/06/07 14:49:00 | Jonathan Bingham |
Re:Re:After Iraq, can we trust Blair anymore ? | 25/06/07 17:09:00 | David Giles |
Re:Re:Re:After Iraq, can we trust Blair anymore ? | 25/06/07 17:24:00 | Will Watson |
Re:A form of democracy | 25/06/07 17:44:00 | Richard Greenhough |
Re:Re:A form of democracy | 25/06/07 17:56:00 | Will Watson |
Re:After Iraq, can we trust Blair anymore ? | 25/06/07 17:50:00 | John Mc Cann |
Re:Re:After Iraq, can we trust Blair anymore ? | 25/06/07 17:53:00 | Richard Greenhough |
Re:Re:Re:Ireland to hold Refendum on new EU Treaty - should the UK ? | 25/06/07 14:31:00 | Will Watson |
Re:Re:Re:Re:Ireland to hold Refendum on new EU Treaty - should the UK ? | 25/06/07 14:37:00 | Fraser Pearce |
A shift in sovereignty | 25/06/07 14:54:00 | Fraser Pearce |
“The proposals that we dare not present to them directly” | 25/06/07 15:11:00 | Fraser Pearce |
“Psychological terrorists” and the “new form of democracy” | 25/06/07 15:29:00 | Fraser Pearce |
Britain has not had a Referendum on Europe since 6th June 1975 | 25/06/07 18:12:00 | David Giles |
Re:Britain has not had a Referendum on Europe since 6th June 1975 | 25/06/07 19:53:00 | Guy Lambert |
Same old conservatives | 26/06/07 09:15:00 | Stephen Thornton |
It's not about the Conservatives | 26/06/07 11:27:00 | Fraser Pearce |
Re:Same old conservatives | 26/06/07 13:19:00 | David Giles |
Re:Re:Same old conservatives | 26/06/07 14:00:00 | Stephen Thornton |
Re:Re:Re:Same old conservatives | 26/06/07 16:53:00 | David Giles |
Re:What we voted on in 1975 | 26/06/07 14:19:00 | Richard Greenhough |
The devil's in the detail | 26/06/07 16:40:00 | Fraser Pearce |
It maybe called a Treaty but its the same Constitution | 26/06/07 20:38:00 | David Giles |
Re:It maybe called a Treaty but its the same Constitution | 26/06/07 21:56:00 | John Mc Cann |
Re:Re:It maybe called a Treaty but its the same Constitution | 26/06/07 22:20:00 | David Giles |
Re:Re:Re:It maybe called a Treaty but its the same Constitution | 26/06/07 23:01:00 | Jerry Makides |
Re:It maybe called a Treaty but its the same Constitution | 27/06/07 08:57:00 | Guy Lambert |
Responding to Jerry: “The end of democracy” | 27/06/07 12:17:00 | Fraser Pearce |
Responding to Jerry: “totalitarianism” | 27/06/07 12:27:00 | Fraser Pearce |
Responding to Jerry: “Loss of freedom” | 27/06/07 12:36:00 | Fraser Pearce |
Responding to Jerry: The EU, prosperity and peace in Europe | 27/06/07 12:54:00 | Fraser Pearce |
Re:Re:It maybe called a Treaty but its the same Constitution | 27/06/07 12:59:00 | David Giles |
Re:Re:Re:It maybe called a Treaty but its the same Constitution | 27/06/07 13:17:00 | Fraser Pearce |
Re:Re:Re:Re:It maybe called a Treaty but its the same Constitution | 27/06/07 15:55:00 | Guy Lambert |
Re:Re:Re:Re:Re:It maybe called a Treaty but its the same Constitution | 27/06/07 18:02:00 | David Giles |
Re:Re:Re:Re:Re:Re:It maybe called a Treaty but its the same Constitution | 27/06/07 18:53:00 | Fraser Pearce |
Re:Re:Re:Re:Re:Re:Re:It maybe called a Treaty but its the same Constitution | 27/06/07 21:39:00 | Guy Lambert |
Re:Re:Re:Re:Re:Re:Re:Re:It maybe called a Treaty but its the same Constitution | 27/06/07 21:47:00 | John Mc Cann |
Re:Re:Re:Re:Re:Re:Re:Re:It maybe called a Treaty but its the same Constitution | 27/06/07 21:52:00 | David Giles |
Re:Re:Re:Re:Re:Re:Re:Re:Re:It maybe called a Treaty but its the same Constitution | 27/06/07 22:03:00 | John Mc Cann |
Re:Re:Re:Re:Re:Re:Re:Re:Re:It maybe called a Treaty but its the same Constitution | 27/06/07 22:54:00 | Guy Lambert |
Legal opinion wanted | 27/06/07 23:16:00 | Peter John |
Re:Legal opinion wanted | 27/06/07 23:40:00 | John Mc Cann |
Re:Re:Legal opinion wanted | 28/06/07 09:57:00 | Fraser Pearce |
Re:Re:Re:Legal opinion wanted | 28/06/07 10:52:00 | Fraser Pearce |
Re:Re:Re:Re:Legal opinion wanted | 28/06/07 12:36:00 | Colin Jordan |
The threat to the British Constitution and Parliament | 28/06/07 17:46:00 | David Giles |
Re:The threat to the British Constitution and Parliament | 28/06/07 22:33:00 | Guy Lambert |
Re:Re:The threat to the British Constitution and Parliament | 29/06/07 00:05:00 | David Giles |
Re:Re:Re:Re:Re:Legal opinion wanted | 29/06/07 11:08:00 | David Giles |
Re:Re:Re:Re:Re:Re:Legal opinion wanted | 29/06/07 12:22:00 | Fraser Pearce |
A Good Week to Bury Really Bad News | 29/06/07 17:59:00 | David Giles |
Labour Party calls for Referendum | 30/06/07 17:22:00 | David Giles |
Trade Union calls for Referendum | 11/07/07 20:24:00 | David Giles |
Re:Trade Union calls for Referendum | 16/10/07 22:02:00 | David Giles |
Re:Ireland to hold Refendum on new EU Treaty - should the UK ? | 04/07/07 19:35:00 | Peter G Boardman |
Re:Re:Ireland to hold Refendum on new EU Treaty - should the UK ? | 04/07/07 20:36:00 | Helen Fogarth |
Re:Re:Ireland to hold Refendum on new EU Treaty - should the UK ? | 04/07/07 22:25:00 | Will Watson |
Re:Re:Ireland to hold Refendum on new EU Treaty - should the UK ? | 05/07/07 08:25:00 | Peter John |
Re:Re:Re:Ireland to hold Refendum on new EU Treaty - should the UK ? | 05/07/07 18:46:00 | David Giles |
EU to pay Wine Producers to give up producing bad wine | 06/07/07 18:14:00 | David Giles |
For Guy: France, Germany and the stability pact | 12/07/07 11:19:00 | Fraser Pearce |
Re:For Guy: France, Germany and the stability pact | 12/07/07 12:22:00 | Guy Lambert |
Britain's Seat on the UN Security Council | 05/08/07 20:07:00 | David Giles |
Re:Britain's Seat on the UN Security Council | 05/08/07 20:29:00 | Colin Jordan |
Re:Re:For Guy: France, Germany and the stability pact | 06/08/07 15:12:00 | David Giles |
Can we trust Gordon Brown on this issue ? | 15/10/07 18:36:00 | David Giles |
Referendum | 17/10/07 09:22:00 | Brendan McCarthy |