The EU’s bank settlement scheme (TARGET2) is too unbalanced ever to reach equilibrium. Capital is flying out of Italy’s banks since the recent election there, to the extent that a crash landing is now looking probable. Don’t panic because the EU has a mechanism to solve this so that the money comes flooding back to … More Italy Missing the Target
The EU continues to pursue its ambition to achieve – and to run – a supranational state in Europe: “The euro is more than just a currency. It is a political and economic project. All members of our Monetary Union have given up their previous national currencies once and for all and permanently share monetary … More Multiple Visions
In 1975 Australia’s Prime Minister, Gough Whitlam, was dismissed by Governor-General Sir John Kerr, Australia’s de facto President. (although formally the Queen’s official representative, the Palace was clear that this was a sovereign issue, as indeed is the appointment of Governor-Generals in reality). The Australian government didn’t have enough Senate support to get its budget … More It’s the Wrong Way to Tackle Merkel
In almost opposite ways China and the EU demonstrate the need for political regimes to take some account of the ‘wishes of the people’. This is not to say that either is democratic but that unless the power of the people is carefully fragmented and weakened it may assert itself disruptively, eventually. China uses economic … More No Regime Change, Yet
The EU keeps on both demanding solidarity and, when it suits, claiming that it exists. We question both whether it exists and whether it is necessary, or even possible. Jean-Claude Juncker from his annual 2016 State of the Union address: “Solidarity is the glue that keeps our Union together.” “Being European, for most of us, … More Solidarity
In this post we tease out some of the evidence that supports our claim that the EU is founded on contempt for its member nations and disdain for its citizens (see also Foundations). Here is a sample of views of those who would rule over us, rather than represent us. “Europe’s nations should be guided towards … More Attitudes and Ideology
Chief EU Brexit negotiator, Michel Barnier, is milking the Irish border issue, although ‘milking’ is scarcely the right word, ‘inflaming’ would be more appropriate. Lord Patten, one of the appeasers in the upper House, recently stated that a clean Brexit would result in a hard border in Ireland which was like carrying a can of … More Irish Troubles
EU budgets are prepared for seven years ahead; a new one is due for the period 2021-2027 and a first draft has been issued by the European Commission as their proposed multi-annual financial framework (MFF). EU budgets are prepared for seven years ahead; a new one is due for the period 2021-2027 and a first … More Budget Bazaar
We’ve tried to understand more about how members of the European Parliament (EP) are selected but it’s not straightforward. What follows is taken mostly from the EU Parliament’s websites and Wikipedia, with a few comments from us to challenge some of the propaganda. “Role [of the EP]: Directly-elected EU body with legislative, supervisory, and budgetary … More (S)election of MEPs
Psychology suggests we’re more likely to fail if we believe we’re going to fail: optimists who look forward to a successful future are more likely to succeed. That applies to people, to communities and to nations. Too many Britons are worried by what we may lose when we leave the European Union and don’t recognise … More Accentuate the Positive
This EU Won't Work 