Saturday, October 20, 2012

Britain and Europe

   I have been writing about Europe almost every day for a long time, almost as long as successive British Governments and Conservative Party politicians in particular have been doing all they could to not even think about it.  Even PM Cameron, with his well aimed attack of yesterday, as reported in The Sun, linked here, now seems aware that this feigned indifference cannot continue!

   The boycott of the Fiscal Compact contrived by Cameron at the final EU summit of last year, appears to have served little purpose, with an FTT or Tobin Tax proceeding under enhanced cooperation.

   The next logical British step,  a boycott of the single banking supervisor procedures agreed this week could not be justified given the UK has no eventual commitment to ever join EMU. The Czech threat of a veto is encouraging but the pressure to again fall into line will probably eventually prove irresistable.

   The solution clutched at by Cameron in yesterday's Brussels news conference, a new EU settlement followed by referendum acceptance or continuation of the pre-existing status quo, carries absurdity and expediency to new and ever more dizzying heights.

  What then to do? As I blogged first thing this morning, the economy has already broken down, appointment of a capable, experienced and functioning Governor of the Bank of England is thus priority number one, as then posted I believe Nigel Lawson fits the bill.

Next to go, quite clearly, is the Chancellor, George Osborne. Nick Clegg if he wishes his party to be saved from annihalation must now make this a condition of his continuing support for the Coalition .

   A British Foreign Policy towards a splitting EU must then urgently be prepared. A senior Liberal Democrat could concurrently be given responsibilty to assist in preventing such a breakdown occurring and negotiating a new place for the UK within, or among, the remanants of the failed EU!

   Saving what remains of sterling's value from the fallout from the euro disaster needs a seasoned and smart individual heading the Treasury, regular readers of my blog know well enough whom I prefer amongst the very few such that the nation presently seems to have available.

   Meantime watch the results of tomorrow's local elections in Spain as the best guide as to how much more time we may still have available to prepare.

   For a good report on the crumbling societies in Greece and Portugal watch Dateline London from the BBC this weekend!

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