Saturday, May 15, 2010

Will the euro survive?

I am an eurosceptic. I think the eu is a statist monster. It was basically formed so France wouldn't have to surrender to Germany yet again. It's interesting that Sarkozy threatened to leave the euro, if Germany didn't surrender. Germany has cancelled tax cuts, Chancellor Merkel hasd lost her majority in the upper house and her coalition partners are very unhappy.mEven lefty nick clegg no longer talks about joining the eurozone. I'm not sure if this all bodes well for survival of the euro. Weakening brussels is good news.

Nicolas Sarkozy threatened to pull out of euro over Greece row
French president Nicolas Sarkozy warned of damage to Franco-German relationship if Angela Merkel opposed EU plan


Ian Traynor in Brussels Giles Tremlett in Madrid
guardian.co.uk, Friday 14 May 2010 19.00 BST


French president Nicolas Sarkozy threatened to pull out of the euro unless Angela Merkel dropped her hostility to the EU's safety net plan. Photograph: Gerard Cerles/AFP

Nicolas Sarkozy threatened to abandon the euro unless Angela Merkel dropped her hostility to the EU's €750bn safety net for the single currency, sources in Brussels and European capitals said yesterday.

In a confrontation between Europe's two most powerful politicians, the French president said he would walk out of the talks and warned of lasting damage to the Franco-German relationship unless the German chancellor backed the plans.

"It was a standup argument. He was shouting and bawling," said one official in Brussels. "It was Sarkozy on steroids," said a European diplomat. "He's always very energetic. This time he was very emotional, too." The French leader banged his fist on the table, according to yesterday's El PaĆ­s newspaper in Spain.

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