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Cheers - AE

Sunday, 20 November 2011

That's you lot told

Click for linky
Wolfgang Schäuble said that, despite the current crisis in the eurozone, the euro will ultimately emerge as the common currency of the entire European Union. He said he “respects” Britain’s decision to keep the pound, but insisted that the survival and eventual stabilisation of the euro will convince non-members to join the currency club. “This may happen more quickly than some people in the British Isles currently believe,” he added.
The message to the UK is obvious - it's not your country anymore. But there is another way of reading it, another subtext below the one which really barely qualifies as subtext: we've nailed our colours to the Euro mast and its unravelling, and we're hoping like hell another big economy jumping on board will manage to keep it going and save our careers and/or reputations. I'm not sure that isn't a bit optimistic given Britain's level of debt and the fact that the Cobbleition government are really no less profligate with other people's money than their predecessors, but from here it seems like time is running out. The Euro car had a dodgy handbrake and was parked on a hill by a cliff, and now the bugger's rolling toward the edge and everyone who helped pay for the car is running like hell after it hoping to stop it in time. Getting a country with a good credit rating on board (though fuck knows why the UK still has a good rating) might buy them some more. Either that or when the car reaches the cliff Britain won't have an advantage over those that kept running after it right over the edge.

The alternative is pretty clear. Herr Schäuble must be told, in no uncertain terms, to fuck off.
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