EU continues to unravel... Brits are bailing too!
This article from Sunday's Telegraph, "Blair Gives Up on His EU Dream", further documents the disaster the French and Dutch votes have wrought for the dreams of an EU superstate. Hurrah!! Blair has been tirelessly championing the EU cause ever since taking office, but it seems he has bowed to the inevitable and is throwing in the towel. This ensure several things:
1. Britain won't adopt the Euro
2. The brain-drain from Europe to the UK will continue (the French and German economies are burdened enormously by monumentally excessive regulations and near dominance of very powerful trade unions that stifle innovation and burden them with incredible tax rates... consequently the UK's relatively low taxes (by continental standard, onerous by American and even Canadian) and generally more open environment (thank you Maggie Thatcher) the best and brightest of Europe are heading to Britain, Scotland and especially Ireland for better opportunities. The French and Germans have been screaming for EU unity so they can "level" the regulatory and tax playing field by forcing England to adopt their horrendous policies by fiat. Little chance of that now!
3. The Euro may yet fall apart... the French and Germans in particular would have received a major economic boost by absorbing the UK's large and comparitively vibrant economy. Brits have recognized this for some time and have resisted the Euro because they recognized the drain it would have on their pocketbook. This is good for North Americans because the Germans and especially the French aren't really our friends economically. Their dreams of a pan-European superstate to rival the US in particular is on the rocks and seems to imploding before their very eyes.
Blair has been the champion and puppet for Brussels since being elected, but to ensure his political survival he has conceded defeat. Good news for everyone... except the French and German bureaucrats that dominate the Brussels crowd.
1. Britain won't adopt the Euro
2. The brain-drain from Europe to the UK will continue (the French and German economies are burdened enormously by monumentally excessive regulations and near dominance of very powerful trade unions that stifle innovation and burden them with incredible tax rates... consequently the UK's relatively low taxes (by continental standard, onerous by American and even Canadian) and generally more open environment (thank you Maggie Thatcher) the best and brightest of Europe are heading to Britain, Scotland and especially Ireland for better opportunities. The French and Germans have been screaming for EU unity so they can "level" the regulatory and tax playing field by forcing England to adopt their horrendous policies by fiat. Little chance of that now!
3. The Euro may yet fall apart... the French and Germans in particular would have received a major economic boost by absorbing the UK's large and comparitively vibrant economy. Brits have recognized this for some time and have resisted the Euro because they recognized the drain it would have on their pocketbook. This is good for North Americans because the Germans and especially the French aren't really our friends economically. Their dreams of a pan-European superstate to rival the US in particular is on the rocks and seems to imploding before their very eyes.
Blair has been the champion and puppet for Brussels since being elected, but to ensure his political survival he has conceded defeat. Good news for everyone... except the French and German bureaucrats that dominate the Brussels crowd.
posted by Bellesarius at 2:39 PM
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