Sunday, December 18, 2011

A Canadian view of the EU split.

Harry Sterling is a former diplomat based in Ottawa, he has this column in the Calgery Herald, titled  "Britain takes a risk in jilting European Union partners".

The writer makes some interesting points but is hampered by events that have occurred since the column was written. The first draft of the proposed treaty, now in circulation and linked from this blog last evening, again from here, requiring ratification by only nine euro members, with no provision for the treaty to lapse should the remaining eight never ratify, rather exposes the motives behind the plan.

The flimsiness of the proposals and general lack or seriousness or substance, its complete absence of any terms designed to even address the existing economic crisis and the ongoing disintegration of the IMF €200 Billion loan package, together tend to drive one to the conclusion that the significance of the events of 8th and 9th December in Brussels, have been grossly exagerated.

I imagine that very soon, like so many earlier Council outcomes in the present crisis, from the Euro Group, this too will best be quickly forgotten!



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