Sunday, October 23, 2011
The death of irony
This morning's Sunday Telegraph leads on the rather interesting proposal that European Union chiefs are drawing up plans for a single “Treasury” to oversee tax and spending across the 17 eurozone nations.
To be frank, I would be surprised if they did not. The recent crises have proved that you cannot have monetary union without economic union as well. If the Euro is to survive then this is the only way forward. If it does not survive then it may well drag Britain and the rest of Europe back into recession.
What I found bizarre though was the throwaway line that this proposal, put forward by Herman Van Rompuy, the European Council president, 'would be the clearest sign yet of a new “United States of Europe” — with Britain left on the sidelines.'
What do they expect? If the British Government even suggested that they join in such a project the Telegraph would be the first at the barricades protesting against it. You cannot have it both ways. You are either in or you are out and if you choose the latter then you cannot complain when the others do things you don't like.
To be frank, I would be surprised if they did not. The recent crises have proved that you cannot have monetary union without economic union as well. If the Euro is to survive then this is the only way forward. If it does not survive then it may well drag Britain and the rest of Europe back into recession.
What I found bizarre though was the throwaway line that this proposal, put forward by Herman Van Rompuy, the European Council president, 'would be the clearest sign yet of a new “United States of Europe” — with Britain left on the sidelines.'
What do they expect? If the British Government even suggested that they join in such a project the Telegraph would be the first at the barricades protesting against it. You cannot have it both ways. You are either in or you are out and if you choose the latter then you cannot complain when the others do things you don't like.
