Our trilogy on the euro currency is now in four parts (like Douglas Adams’ Hitchhiker’s Guide to the Galaxy) because we had to break off to discuss the Draft Withdrawal Agreement and other political developments. The previous parts dealt with the past, the present and the parallels with other monetary unions , we now turn … More The Death of the Euro
“If you’d like to push me and speculate on what might happen in a no-deal scenario in Ireland, I think it’s pretty obvious – you will have a hard border.” said Margaritis Schinas, chief spokesman of the European Commission on 23 January. If there is no deal, “We will have to find an operational way … More Backstop or Backstab?
Since when? Since the Great Reform Act of 1832 Parliament has fiddled with the franchise, extending it to more men, then even more men, then all men and some women, then all women, and finally in 1969 to 18-year-old men and women. In less than 150 years any ignorant riff-raff can now vote and Parliament … More Snippets-2
Since the Prime Minister’s Withdrawal Agreement (WA) was massively voted down there now appears to be no way the House of Commons can agree a way forward. More politicians are backing the ‘People’s Vote’ campaign as a way of breaking the deadlock, supported by the usual suspects . Superficially it seems to have some logic: … More Off the Table!
The WA is as dead as a dodo, slain by a massive defeat in the Commons. It is no more, it has gone to meet its makers in Brussels and Westminster. But it will not rest in peace. The body will be dismembered and its parts offered again, to be forced down the throats of … More A Withdrawal Agreement
‘Nemo judex in causa sua’ is a Latin phrase that is usually translated as, “no-one should be a judge in his own cause.” This is among the basic principles of natural justice. The honourable judges of the Court of Justice of the European Union (CJEU) have shown themselves to be above natural justice and indeed … More Unnatural Justice
The EU was deliberately designed so that the people would be guided on the right path by ‘wise’ men to ensure that previous mistakes will never be repeated. That’s understandable, the alternatives were questioned and found wanting by Socrates (and Plato, Aristotle and many others since the Athens’ democratic period). However, the people are prevented … More Brexit: A Brief Summary
It was Christmas 1991 when the Soviet Union was formally ended by the Russian Parliament. A month later the Maastricht Treaty was signed which mandated the creation of the euro currency, a remarkably similar monetary union (MU) to the Soviet one. The Rouble Zone (RZ) staggered on for 18 months until the other republics had … More The Future of the Euro – 2
Edmund Burke told his voters in Bristol that an MP “owes you, not his industry only, but his judgement; and he betrays, instead of serving you, if he sacrifices it to your opinion”. His constituents agreed, they elected another candidate. A majority in Parliament is intent on wrecking Brexit. It was asked by popular vote … More Resign, You Cowards!
Our previous post ‘celebrated’ the twentieth anniversary of the euro (The State of The Euro); we described how monetary union has failed to increase growth or converge the economies of the eurozone countries. In this follow-up we look at similar failures and the possible consequences if the euro also dies. Giving control of monetary policy … More The Future of the Euro – 1