After many false starts the European Union leaders, in particular the Euro-Zone 17, have come up with a solution to their crisis which has/had the capacity to engulf the worlds economies, but is it enough?
The European Union leaders have produced a solution which they hope will save the Euro-Zone economies but do they really understand the technicalities of what they have created, have they really accepted the folly in the way the Euro-Zone was originally set up, are they really going to get full agreement for essentially a United States of Europe consisting of 17 countries and what success will Great Britain have in re-negotiating its relationship with the European Union?
Remember for the Euro-Zone to survive they need full agreement, if they don’t proceed to full fiscal and political union the Euro-Zone will fall!
Well do the European Union leaders really understand what they have now created as a rescue vehicle, don’t know, I think they understand it as an overview but I doubt they understand the mechanics which are really complicated and that is scary because if this all starts to unravel it will be nasty for the world. Further reading
You only have to look at the public unrest currently to imagine that further austerity measures could lead to either extreme right or left wing governments being elected which would make the whole situation unpredictable, remember for the Euro-Zone to survive they need full agreement, if they don’t proceed to full fiscal and political union the Euro-Zone will fall!
The mechanics which are really complicated and that is scary because if this all starts to unravel it will be nasty for the world
Looking at the world economies and lack of growth worldwide the Euro-Zone has only bought time, Italy and Spain must deliver in a big way and we must all pray for this because a collapse in the Euro-Zone would be disaster for the world and possibly the start of a 1930s type depression!
But where does that leave Great Britain and its place in the European Union, David Cameron is under increasing pressure from the Conservative Party MP’s and Grass Roots to repatriate powers and fundamentally change our relationship with the European Union to that of a trading agreement and his coalition partners, the Lib Dem’s are saying NO NO NO!
Forget about the Lib Dem’s, they are just coat-tail travellers, will the inevitable changes to the European Union and its treaties give, as David Cameron thinks, an opportunity to renegotiate our position, a nice thought but I believe when put comes to shove the European Union will say NO NO NO!
The most likely scenario is that we will be offered one of three options
- Full membership of the Euro-Zone
- Membership of the outer circle, much as now but with far less influence
- We will be offered a good trading agreement because we are probably the European Unions biggest customer, we are certainly the biggest trading partner of Germany and France, they simply can’t afford to lose the UK trade, but then neither can Great Britain, this though will give us NO seats at any European Union table!
We will see, crucial times ahead for Great Britain, only time will tell but I think David Cameron need to enrol himself on a Negotiation Training Course quickly, it’s not his strongest talent!
Nationalists Emboldened by Euro-Zone Crisis!