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UK says no to Europe « Previous | |Next »
December 10, 2011

David Cameron vetoed the EU's shift to a fiscal union as part of the the eurozone bailout in order to protect the City of London from a proposed Tobin tax. The Europeans are fighting to defend their currency. So the UK says no to Europe and the British state looks to be in thrall to the casino driven financial markets that caused the global financial crisis. Britain wants to enjoy the benefits of being part of a European single market for financial services but not subject to EU oversight or regulation.

Cameron turned his back on negotiating a deal with the rest of Europe for a new treaty that began to move Europe away from the era of unchallenged, unregulated finance capitalism that brought about the crash of 2008, and provoked the subsequent recession. He rejected German demands tough enforceable controls on public borrowing and spending.

RowsonMVetoEurope.jpg Martin Rowson

The Tory Right may well detest the EU: they represent Europe as a foreign leviathan aiming to rob free-born Englishmen of their liberties. However, the immediate consequence of Britain being anti-Europe is it's isolation. There is little point in Britain being in the EU as all the key decisions will be taken by the 17 eurozone nations, plus the six which want to join the euro.

Yet Britain's economic fortunes are closely intertwined with Europe---it is Britians most important export market yet Cameron, in saying no to fashioning a new regime for the eurozone, has undermined British influence over negotiations vital to its future.

| Posted by Gary Sauer-Thompson at 7:47 PM | | Comments (1)
Comments

Comments

I thought it was a colony of the US, or was that Orwell?
It won't bother the Brit rulers if they lose touch with the eurozone so long as they can continue to pick the pockets of students and disability pensioners to pay for their fat cat lifestyles, although Britain will follow the once legendary Habsburgs and Bourbons into historical obscurity.