Saturday, December 04, 2010

Non-Euro Group Finance Ministers must convene URGENTLY

The Euro Group of Finance Minister regularly gathers in accordance with the Lisbon Treaty, and will no doubt do so again as a matter of great urgency.

In the warped thinking of the adherents to the concepts of the European Union, members of the EU not part of the common currency have no reason to meet, convene, gather or discuss as they are committed by Treaty to disband their currencies and eventually to ALL, even Britain, join the Euro.

In the real world, where the chances of the euro even being in full existence this time next year get slimmer with each passing day, is it not time for the Finance Ministers of the currencies outside the Euro Group to meet and discuss how they will cope with the crisis which will follow the euro's disintegration and how best they can protect their own currencies and their citizen's well-being, if not prosperity, in the aftermath of the ensuing worldwide currency chaos.

It would be possible to argue that as the Euro Group utilise common EU facilities for their gatherings (even though the purposes of their meetings increasingly concentrate on the promotion of the interests of the 16 at the expense of the 11) the Non-Euro Group should similarly be able to call upon the same arrangements, in my view that would be a great mistake. It will not be just countries in the EU who will bear the consequences of the euro's collapse, the whole world will be affected, but Europe will be sure to be under the greatest imperilment. The two largest of the last remaining Democracies in Europe should also therefore be included, here I have in mind  Switzerland and Norway, whose strong currencies if part of any emergency procedures will add considerable weight to whatever may be agreed and eventually put in place.

I am sending a copy of this post to Open Europe and Conservative Home.



Post a Comment

<< Home