Thursday, December 08, 2011

Boris Johnson may be correct

Is fiscal union, in actual fact rather than legal fiction, actually possible ? Are the fools now playing into the hands of the anarchists ?

Boris said: "If there's a new treaty of the 27 that creates a fiscal union, we'd have absolutely no choice either to veto it or put it to referendum". But he went even further in arguing that fiscal union itself was fundamentally undemocratic and economically disastrous. Or as Boris put it: "We're in danger of saving the cancer and not the patient"

This is very much not in the Number 10 script, which still clings to the Osborne line that fiscal union is the 'inevitable logic' of monetary union. But it is very much the same script of John Redwood and others who have warned the Chancellor to his face that backing fiscal union is 'insane'. And Jo Johnson may end up agreeing.

IMO: EU actions, right from the days of the wine lake and sugar mountain, have seemed like fiction to me. Or read Tuttle. How much more fiction can the world tolerate ? Continuous suggestions of uncontrolled anarchy - some would call it 'libertarianism' - become more and more credible.

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