Merkozy’s New Treaty is but the Growth & Stability Pact 2.0

I blogged extensively on the deliberate French and German destruction of the Growth and Stability agreement during 2003 and 2004 on Ironies. The new Treaty proposed yesterday by Angela Merkel and Nicolas Sarkozy, is merely a re-run of that pact, and any who think the ECJ will be any less susceptible to Franco-German pressure, (should those two wish to break its terms as they surely will) are clearly being deliberately blind to the lessons of history. The following quotes from consecutive postings on Ironies from June 2004, might help to make that point, while also pointing to what Britain should have been doing in the interim, and can afford to ignore no longer:

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German budget to again break pact
Bloomberg has the report linked here. The Dutch who are presently the main protesters at the repeated Franco/German nose-thumbing at their treaty obligations will have the chance to demonstrate their digust in a non-binding referendum on the EU Constitution likely to be held before the end of this year see this EUobserver report linked here.
Getting value for state asset sales is the latest excuse for likely German non-compliance- watch the sale of part of the German Post Office set for today – the price has already been substantially reduced in the fear that the take-up will be insufficient.
Margaret Thatcher’s ‘Reflections’ at the end of her book The Downing Street Years (Harper Collins London 1993) page 814 gave her thoughts on Germany at the end of her premiership as follows:-
West Germany’s absorption of its next-door relation has been economically disastrous, and that disaster has spread to the rest of the European Community via the Bundebank’s high interest rates and the ERM. We have all paid the price in unemployment and recession. East German political immaturity has affected the whole country in the form of a revived (though containable) neo-Nazi and xenophobic extremism. Internationally it has created a German state so large and dominant that it cannot easily be fitted in to the new architecture of Europe.
Although the above was stated as an opinion formed fourteen years ago, and now published for some ten years it remains true today. Particularly with regard to the economics. Replace Bundesbank with ECB and ERM with Euro in the first sentence of the quote and it is the exact situation ruling today. Then read my posting immediately below this . Perhaps we should then ask ourselves what kind of leaders do we now have that allow and perpetuate this continuing economic disaster, decade after decade? Britain must cut loose!

posted by Martin at 6/23/2004 09:22:00 AM

Could EU Collapse be the real Constitution Killer?

(Opening paragraphs redacted as irrelevant)

The crisis in the Eurozone is of course a regular topic on this blog. It is crucial to the development of the withdrawal debate within the UK. Many British politicians blithely assume the UK discussion on our continuing within the EU will be against a background of the clear economic benefits being on the side of remaining within the bureaucratically strangulated socialist superstate. The opposite is likely to be true.
The growth engines in the world economy now lie in the East. Britain has clear advantages over our European COMPETITORS. Both in language (in the Indian sub-continent) and historical links (bringing in China as well).
The longer we devote our energies to negotiating constitutions, trade links and new regulations with the sclerotic Euroland countries, the more opportinities we will miss in the booming orient and the more our own economy will be dragged into the mire by the clearly doomed EU.

posted by Martin at 6/23/2004 08:17:00 AM

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The last paragraph of the second posting seems worth repeating again and emphasizing “The longer we devote our energies to negotiating constitutions, trade links and new regulations with the sclerotic Euroland countries, the more opportunities we will miss in the booming orient and the more our own economy will be dragged into the mire by the clearly doomed EU.”

2 comments for “Merkozy’s New Treaty is but the Growth & Stability Pact 2.0

  1. December 8, 2011 at 3:38 pm

    Well, that’spretty well taken as read. Now we just have to get out of this monstrosity.

  2. nemesis
    December 8, 2011 at 10:11 pm

    Alister Heath brings his usual clarity to the situation:
    http://www.cityam.com/news-and-analysis/allister-heath/cameron-must-be-radical-europe.

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