Friday, 16 December 2011
Play Up! Play Up! And Play The Game!
The euro crisis descends into farce and will shortly reach its end. The so called plan evolved by Merkozy last week is no plan to save the euro. It is a plan for the future governance of those members of the EU who think there is benefit in joining a half cocked fiscal union. Already it is no longer 26 for and 1 against. Those against are growing as the politicians of those members now harbouring doubts realise that they might find it difficult if not impossible to sell the loss of sovereignty to their electors that a fiscal union implies, even a half cocked one. Cameron's stand against the nonsense of a fiscal union (let's believe that that was what he was doing in Brussels in the early hours of Friday last week) is shown to be more prescient as each day goes by. Even van Rompuy has realised that the madcap scheme will founder unless Cameron is seen to be involved in trying to get it off the ground. That can be the only reason why Cameron has been asked to attend the deliberations of the EU on the whole fiscal union subject. Cameron should make his attendance conditional on our getting what we want by way of treaty change and, it being too late now to save the euro at least in its present form, that for all our sakes an orderly wind up be agreed urgently. Maybe it is still possible for the euro to be split into two with France and the southern european states in eurosud and Germany and the northern countries in euronord. If not each country will have to return to its own currency. Cameron at the moment has centre stage (given to him in particular by the antics of Sarkozy, Noyer and Baroin) and has a chance in a lifetime to become a world statesman of stature if he pursues the logic of what he's started and what this country wants. Clearly the europeans are crying out for the leadership that the two big beasts, Merkel and Sarkozy, have singularly failed to give them. Cameron must now come to the crease. He must play up, play up and play the game.
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