EU ANALYSIS: A disunited Union of two halves…with Britain neither fish nor fowl.


Gradually, the fatal flaws in the EU are coming to light…one by disastrous one.

At the end of 2006, The Slog’s mother-site Not Born Yesterday said that both the Euro and a federated EU were impossible in the contemporary world, as local politicians and different local fisco-economic circumstances would make it hard to agree about anything.

We now have the Dutch, German and Finnish governments becoming increasingly noisy about the cost of bailing out the cheeky boys down South – especially as the Finns learned their lesson the hard way (with no help from anyone) some years back. This is what we students of anthropology call human nature, a concept utterly alien to the puffed-up heads of Europe and their bureaucratic masters.

Gillian Tett points out (in another terrific piece today) how a further facet of the human condition in action is a naughty black market in discounted Bond margins through the European Central Bank – which, as she explains (and I didn’t know this) treats all bonds as equal. It is a potty state of affairs – but gives away just how out of touch and wedded to Megastate thinking those at the top in This Great Journey of Ours are: wake up at the back there, Trichet.

The only ‘Anglo-Saxon’ nation not conforming to this north/south cultural cliche is…the UK, which continues to spend and plan like a banana republic. Well I never.