December 10, 2011
On one hand we have 27 countries agreeing that there is a solution in unity, and on the other protecting London’s financial influence and therefore effectiveness – a crumbling cornerstone – a shambles of belief in a system that has massively artificially inflated the economy without deflating the currency because electronics and computer muscle provide a sea changing wealth of opportunities to create capital, that is financial obligations committed with regard to imbalances in the ratio of risk vs return when things went wrong.
A Unification of the rights and obligations of all European citizens is commended by all but the British. Mutualising the benefits of “state capital” to the benefit of Europe would require considerable contribution of raw capital power that London City is and unlike other major sponsor economies in the EU – Great Britain is reluctant to play ball. Being singled out as the new Switzerland is one thing.
Europe becoming what it will become is probably a better destiny for the entire zone with the UK integrated into it, but is what Cameron has done a bad thing for Great Britain? In the final analysis that is not what matters.