OTA Berlin Apartments

 

British PM Cameron stood completely alone last Friday by refusing to agree to a historic European fiscal pact to save the Euro, the repercussions of which are just starting to be assessed on both sides of the English Channel.

The Labour party leader  Miliband  accused  Cameron of causing a diplomatic disaster after
he wielded the British veto at the EU summit – http://www.guardian.co.uk/politics/2011/dec/12/eu-veto-diplomatic-disaster-miliband

Some observers in the UK are suggesting that the British PM ‘fell into a French trap’ because with Britain out of the way, it made it easier to get Germany and other members to take the easier inter-governmental path to reform.

However others are accusing Cameron of using clumsily aggressive tactics which convinced no-one and could even make Britain’s future in the European Union difficult if not untenable. http://www.guardian.co.uk/business/2011/dec/12/eu-warns-britain-financial-rules

Cameron’s apparent gambit failed to secure exemptions for the ‘Casino Banker’ parasites from ‘the City’, and actually ended up strengthening German proposals for a new Euro-zone fiscal union in a renegotiated Lisbon treaty.

The deficit and debt of the UK – which is considered excessive even by neutrals -will be the object of continued observation and surveillance like other EU states.

The Bank of England ‘ injected’ £75bn into the economy in March 2009 through a process known as “quantitative easing” and expanded the programme to £200bn later that year and now has again raised it by another £275bn – meaning they are basically just printing money blindly.

The EU has opted not to follow this route – we will see who is right in the long term.

 

In related OTA-Berlin Constituency Blog articles – http://www.ota-berlin.de/blog/07/28/the-3-hated-american-horsemen-of-the-apocalypse-standard-poors-moodys-and-fitch-ratings-%e2%80%93-continue-to-cause-mischief-in-europe-commentary-by-emil-hoogensteyn/

OTA-Berlin Constituency Blog’ is part of ‘OTA-Berlin …. the Intelligent Apartment Alternative to Hotels’ in Berlin.

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The opinions expressed are not necessarily those of OTA-Berlin but of the contributor – in this case Mr W van Coeveren. Blog articles and subsequent comments that appear on the site are not the opinion of OTA-Berlin but only of the comment writer. While we welcoming any linking to the blog the contents may only be reproduced or copied  with the prior written permission of OTA-Berlin GmbH. www.ota-berlin.de