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Friday, October 29, 2010

The Curate's Egg

The leaders of the EU have managed to create for themselves, and the people of Europe (whom they claim to represent), something of a curate's egg wrt the agreement to revise (in limited fashion) the EU rulebook.

There will be a "limited treaty change" (so as to avoid countries having to ask their voters to endorse it), that will ensure a legally watertight underpinning of the Euro110BN bailout for Greece and the Euro750BN bailout for others.

However, those countries that do not stay within EU deficit budget limits will not lose their vote (as Chancellor Merkel from Germany had been pressing for).

Despite the fact that Europe is still stuck in recession (with a staggering 10% unemployed) the EU budget will still rise by at least 2.9% (seemingly "necessities" such as an 85% rise in the EU entertainment budget cannot be denied our "respected" MEPs and their acolytes).

Were the EU a private corporation it would have, quite rightly, gone to the wall years ago.

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