Friday, March 12, 2010

"I understand that a great deal of political resistance will have to be surmounted".

So says Wolfgang Schäuble, the German finance minister in today's FT.

I'll say it would meet with political resistance. This is the plan,
If we wish the euro to be strong and stable on a lasting basis – our condition for bringing the DM and its high credibility into the euro fold – we have to be prepared to integrate further in the eurozone. Co-ordination between euro members must be more far-reaching; they must take an active part in each other’s policymaking.

Plans that must warm the cockles of Ken Clarke's schlerotic heart.The problem is of course for those who wish to see our relationship with Europe as "highly active" is that thus would necessarily create a two tier Europe. No bad thing in some ways, but one in which the voice of Britain would be necessarily smaller.

We are finally seeing the European Union end game, and it is indeed a country called Europe.

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