The position now taken by DC/UK Govt has some relevant points for the future.
1. DC feels the main issue is that UK is not got the euro currency so should have no part in the decision of this currency, this is understandable
2. Failure to follow the other possible 26 countries in economic union will mean no power or voice in this treaty or direction. This is fair enough but the issue I see for DC was to protect the financial sector in UK. So without voice in this 26 union how does he prevent anything being carried out in taxation of financial transactions or how the future of the financial sector is regulated in the new Euro 26. So he has not prevented anything in this respect as far as I see it. Was this just to look good to his Right wing of his party or solely to prevent a vote by the the public on change, politicians of all persuasions do not like the public to decide anything it never gives them what they want.
3. Failure to join the 26, DC feels that the EC administration cannot be operated or utilised to administer the new Finance alliance. This was rebuffed by the EC President later who seems totally agreeable to police this new union needs, more civil servants and more budget why would he not agree and all the union but one are agreeing to use the EC. Does this make UK position redundant in future, with the objections here or there and veto's when does the 26 see UK as a thorn worth pulling or rejecting from European Parliament totally just to get rid of the irksome relative.
4. Which takes me on to the last alluded in the last bit when does the UK withdraw totally as the only way DC will get aims of border controls, City Finance sector protection and Legal appeals fully devolved back to UK parliament.
5. How does the Eire sit with this choice, they export or rely on imports and financial support from UK, we will need to see how this pans out, I can see their decision as being between a rock and hard place rather than sensible.
6. The German economy since the Euro was setup has benefited from the rates of finance due to the Euro club being so varied and the amalgamation of all economies. With the benefits enjoyed by Germany why should they not now finance recovery of the other nations. I do accept their point that Greece and the like position they find themselves was by bad management but Germany exports and manufacturing benefited greatly during this period and the German Govt let it happen.
6. Greece will not be in the Euro by all accounts, so it may be less than 26 joining.
7. This group of 26 have not enough bail out money from the 26 members to avoid a crash and the European Bank will not lend as I read it, so Italy/Greece/Portugal/Spain ands possible Eire and France could be all turkeys voting for Xmas.
The cost of being in and isolated means that in the long term UK will need to look to other areas of the world for exports. We currently average 40% of our trade to Europe. Norway are not doing to bad being in isolation so to speak, and I do feel our sovereignty of our fishing and coastal waters is worth revisiting to EEC meddling and other countries using our waters. But the UK economy is not like Norway and the manufacturing sector could have issues ahead as a lot of investment in this country was to access the Euro market.
So myself I personally would not mind being part of the EEC, I have felt the EEC is in some ways best described like the voting in the Euro-vision Song Contest. Over the years we as a nation have taken the German mantle of being less liked or less agreed with due to how we see or portray ourselves and the wars we get involved. Sometimes its being the American poodle that did not sit well with fellow euro govts. But in reality if they fix the Euro and fix the finance problems of certain nations within the 26 and a big if. Where does the future of the UK sit. Minus the payments we make to the EEC will the resulting isolation be to the betterment of the UK. The City is like all business people, where the cash goes they go and with new IT links who or why do they need to be in London. I do not feel the card supporting the City DC thought was right will be benificial to the UK in the long term. But history will be the judge.
