Someone Tell Cameron That Euro is Finished

For someone desperate to dispel criticism that he spends too long unwinding on his iPad, David Cameron could be pardoned for forgetting where his priorities are these days if it didn’t mean watching the Euro crumble before our very eyes.

While Angela Merkel may have finally got the message that the people of Greece want to get away from the Euro, it seems the only thing that has actually  been learned from this German-led financial disaster is this;  the EU still want the Euro whether we, the people of Europe, like it or not.

The fact that it was Europhile ‘experts’ who believed that a ‘one-size fits all’ solution was only ever the answer to putting an end to individual sovereignty, only puts into question their suitability for getting countries inside the Euro out.

Hostility from the people towards the EU has never been higher.  Despite reassurances, anger from the Greeks towards the Germans is at crisis point.  Yet for all the talking only now has Angela Merkel seen the light and is prepared to dump the Greeks.

Yet given how hard the Germans have tried to keep this country in makes the fact they wish them to be toast even more worrying.  After all, given that nobody - least of all the Germans - is prepared to take any responsibility makes the EU stink even worse.

While the British people have forever been denied a referendum on Europe, despite solid manifesto promises by all the mainstream parties, we are now being told there is no alternative but to throw more money at the problem because, or so the line goes, the Greeks must not fail.

Well, the news is that the Greeks have failed, whether the EU like it or not.  Yet they still cling to the hope that with or without full European integration the Euro currency will prevail.  But of course they, the powers that be, are wrong just as they have been about the Greeks all along.

The Eurozone has a straightforward alternative;   to either go for full scale integration with the onus on all fiscal transfers from Germany to weaker parts of the Eurozone, or start all over again.  It’s a stark choice but the idea that they have ever been responsible for failure is unthinkable.  But unthinkable it is because it has already happened.

The Euro was doomed from the very beginning.  As recently as January there was only five days to save the Euro and then we had only three ‘crucial days’.  Before that we only had weeks and so it went on and on and on.

So while Athenians queued for food hand-outs, the collective G8 leadership gathered at the weekend to patch up a Euro deal.  They held out much hope but, of course, that looks set to please no ordinary person but they won’t be told otherwise because failure is not an option.  Or so they think.

Because despite the pain of austerity, it seems that nothing is worse than the truth that the European ideal, wrapped in a single currency, was only ever meant to fail.


Published by Martin Baum on 23/05/2012