Thursday, 27 October 2011

German Hegemony

There are some who think the effort to resolve the euro crisis is world war 3. It certainly seems that way when Merkel makes statements like the one she made yesterday that nobody should take for granted another 50 years of peace and prosperity in Europe - 'if the euro fails, Europe fails.' That is scaremongering and patently a non sequitur. It simply does not follow that if the EU collapses or even just the eurozone that there is likely to be a war. On the contrary there is likely to be considerable friction as a result of the bits of sticking plaster already patched over the euro, including the stitch up yesterday. What was done yesterday will calm the markets for a month or so but as the problems with Greek debt continue and the economic mess in Italy, Spain and even France gets worse so the deal done yesterday will come unstuck. We have been told that the euro countries now truly understand the enormity of the euro problems. Clearly they don't as otherwise they would be trying to sort out the underlying problems rather than just the symptoms. See Ambrose Evans-Pritchard article here in the Telegraph today. Could the measures taken yesterday be the next step to German hegemony over Europe? Archbishop Cranmer reminds us that Chancellor Kohl stated 'the future belongs to the Germans.... when we build the house of Europe.... In the next two years we will make the process of European integration irreversible. This is a really big battle, but it is worth the fight.' Archbishop Cranmer also has a quote from a 1994 CDU document in his blog here today in which it is said that if European integration does not progress Germany might be called upon or tempted by its own security restraints to try to effect stabilisation on its own and in the traditional way. Thank goodness we are not wholly in Europe but an offshore island with connections with kith and kin type countries throughout the non-European world. When Germany achieves its desire to whom will the other countries like France turn to for help?    

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