A leader in Die Zeit argues that European Council President Herman Van Rompuy "is exaggerating" when he says that the end of the euro would mean the end of Europe: "The European idea is more than a mere nine year old currency union [...] The European Union would exist even without the euro". In the Spectator, Irwin Stelzer argues, "The euro is almost certainly dead. Brussels would be wise to accept that."
Handelsblatt complains that "again we are saving Europe's banks". Writing in the paper, Dirk Heiman argues that there is a "need for a European bank rescue package and a bank supervision system with teeth and claws." The Economist's Charlemagne notes, "There is a limit to the EU's ability to sugar the medicine. It is hard enough to convince European taxpayers to bail out other governments; explaining why they should save other countries' banks may prove even more unpopular."
In City AM, Allister Heath argues, "There are many lessons to be learnt from all of this. The EU's treaties are not worth the paper they are written on, especially the nonsense about fiscal sustainability; the euro is a giant with feet of clay; monetary union will either lead to fiscal centralisation and destroy democracy in small countries or break up completely."
On the BBC's Newsnight Programme, Labour MP Gisela Stuart said that the eurozone bailout fund established in May "did not address the underlying problem of this political construct [the single currency area], which is that it doesn't provide for economic competitiveness."
With regard to the possibility of an implosion of the eurozone because of increasing pressure from the markets, she argued: "Nobody dares to think about it, but what will cause political problems will not be political decisions, but I think it will be the markets. And remember: Keynes always said that 'markets can remain irrational for much longer than you can remain liquid'."
On his BBC blog, Nick Robinson writes, "Could a British, Eurosceptic, Conservative prime minister have to pledge billions to save the euro from collapse? Will David Cameron agree to increased EU powers to avert a future crisis of the sort brewing around Ireland? The answer to both questions appears to be yes which may land the Tory part of this coalition in a very hot Irish stew."
On his blog, Conservative MP John Redwood argues, "The UK should make it clear that we are not part of any Euroland rescue or facility. We should say we do not think they can use EU disaster relief provisions to offer Ireland more cash. If Ireland does not wish to take any EU money, the UK should be Ireland's ally." The Mail argues, "This is one eurozone country we must help."
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The sooner the Euro and the EU fails the sooner we can start rebuilding a prosperous, safe and free Britain again for our Pensioners our Children and our Grandchildren, if we don't do it what future do your Children and Grandchildren have ?
What sort of life as a Pensioner will you have ?
The EUSSR should be destroyed before it destroys us.
