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By ATWadmin On October 7th, 2008

Interesting to see the European Union being put under the crucible of financial scrutiny as the individual nations do their own thing to protect their own interests at this time of economic crisis. In essence, it’s every Nation State for itself, much to the chagrin of the Europhiles.

Talk of European “unity” has been undermined by the unwillingness of
Britain and Germany to take part in some form of overall, EU-wide banking
rescue programme. At the same time, there are constant fears that “beggar-my-neighbour”
actions taken by individual governments might pull a shrinking financial
blanket – in the form of billions of euros in private savings – away from
other countries.

M. Sarkozy was incandescent last week when Berlin torpedoed Dutch and French
ideas for an EU-wide rescue package, even before they had been formally
tabled. Berlin said at the time that it did not approve of grand,
taxpayer-funded rescue plans, only action to cope with problems at
individual banks.

Naturally, there are those who are prepared to use this crisis to try and argue for even deeper European political unity. The straw-man being thrown up at the moment is that of the EU was the same as the US – one economic and political system – then collective action would be easier! Laughable stuff indeed – but indicative of the mindset that prevails in Brussels.

3 Responses to “ET EU BRUTUS?”

  1. just another tightening of the bonds of unity comrad…lol

  2. David,

    One could argue that the reason for the action being taken by national governments is due to the inaction at EU level. It would have been preferable if there was a pan-EU plan, but the crisis was so imminent in many countries that they simply had to take action themselves.

    I was reading the Sunday Business Post (for those that don’t know: Irish, pro-business, liberal paper) this weekend. Most of its commentators were basically saying that the Govt had to take action and that the German and Brit Govts and Napoleon Sarkozy should stop their whinging and do something for their own people.

  3. Reg,

    Agree with the Sunday Post line. The primary responsibility for any government is to ensure the safety of its citizens. In this case it is economic security that is being secured and I do not criticise the Irish government at all. However other "colleagues" in the EU have rounded on the Irish before, like the Hypocrite Merkel, doing the same themselves. Hopefully the EU will fall apart.