Topic: | Re:Re:Re:Re:The Germans and the French | |
Posted by: | David Giles | |
Date/Time: | 15/12/11 13:58:00 |
I have no hesitation in saying that David Cameron was right to veto the Merkozy proposals. The Merkozy proposals will take many months to implement (if they can ever be implemented with the consent of national parliaments and in some cases referenda) and by that time events, events, dear boy, will have moved on. Like previous Merkozy/EU nitiatives they are long term, ineffectual political measures which will simply not deal with the immediate economic, fiscal and financial crisis in the Eurozone. The markets will decide the fate of the euro and the Eurozone - not politicians like Merkel (a chemist brought up in Communist East German) or Sarkozy(who started life as a lawyer but who has been pretty well a full-time politician all his adult life). As well as the Eurozone's Financial Deficits, I am very concerned about the Eurozone's increasing Democratic Deficit. This was blatantly illustrated a few weeks ago when the Finance Committee of the German Budesbank were given copies of the recent Irish Budget to review before it was submitted to the Irish Parliament. If David Cameron had agreed to the Merkozy proposals he would have agreed to unelected EU and ECB bureaucrats and members of foreign parliaments we do not elect having control over vital matters such as the UK Government's Taxation, Fiscal and Budgetary policies. That indeed would have been a Bridge Too Far and David Cameron was right not to cross over it. |