Showing posts with label Europe. Show all posts
Showing posts with label Europe. Show all posts

Sunday, June 21, 2009

A samizdat on Europe

How many Internet users in the UK, with their own printer at home or permitted some private use at work?

So, never mind the Lisbon Treaty, that sly strategy to get us into the bedroom on some basis other than the consummation of marriage? Is it not time to seek democratic legitimation of the UK's membership of the EU per se?

Why can we not design and post up a form - a petitition for a referendum, for printing-off and taking round for signing by work colleagues, friends and neighbours? With a request that everyone follows suit - downloads, prints, distributes and posts into a central address?

Or even an unofficial, but fairly-worded referendum itself?

Or are we indeed "entering a post-democratic age?"

Thursday, June 11, 2009

Euro and EU doomed?

Justice Litle thinks so.

Beg to differ on one point:

If the Brown government fails, Britain will be left rudderless in the midst of the worst fiscal storm in decades. In a worst-case scenario where bad events lead to worse decisions, opines Stephens, the domino chain could even lead to a British exit from the EU.

"Worst-case"? Au contraire, the sooner the better, and for the reasons he has given in his exploration of Europe's problems.

Wednesday, June 10, 2009

A winning move for New Labour?

What if New Labour's next General Election manifesto were to contain a pledge to hold a straightforward, binding referendum on British membership of the EU?

Saturday, February 14, 2009

Should we leave the EU?


Is this a fair picture of our relationship with the Far East and Europe? If so, what happens if we disconnect from "ever-closer union?" Wouldn't they just throw away the straw and drink straight out of the glass?

Thursday, February 12, 2009

Symmetry; asymmetry

"China’s January surplus ($39.1b) is roughly the same size as the United States’ December deficit ($39.9b). It is reasonable to think it will roughly match the United States January deficit as well.

The extreme symmetry captures something real. Deficits and surpluses are shrinking globally now that the price of oil is at levels that roughly cover the oil exporters imports. Right now China’s (growing) surplus is clearly the main counterpart to the United States’ (shrinking) deficit" - Brad Setser

"I believe there is a greater than 25pc chance of a departure from the Eurozone given the social and economic behaviours of some countries within it" - John Moulton on the UK and the Euro.

Friday, January 23, 2009

Running repairs

VoxEU describes the international economic strains in the Euro area and the need to patch up the collective fuselage so it can continue flying. I'm not an expert, but it looks like a mess to me.

Pic: "A rocket fired by an enemy fighter inflicted this damage on The Sack, a B-17 of the 379th Group. A 14-inch fragment of the rocket tore the pants off of the turret gunner without hurting him."

Tuesday, January 13, 2009

Smugness, alla Italia

Jonathan Russell writes in the Telegraph:

Spain's finances are in the dock thanks to Standard & Poor's, the spreads on Greek bonds have soared and Germany's economy is set to deteriorate faster than ours, according to the OECD. Suddenly the euro doesn't seem like such a one-way bet.

But where is the usual suspect, Italy, in all this euro-doom? Sitting pretty according to its finance minister Giulio Tremonti. The country didn't get involved in the sub-prime crisis and GDP figures could be significantly better than reported.


How do you work this out? "Our banks suffered little from the sub-prime crisis. There are few of them where English is spoken," he told Les Echos newspaper, no doubt not in English.
And GDP? "One should be suspicious of GDP figures …they do not include the informal economy."


The Italian "informal economy"? I'm sure there is another word for that.

And as one of my earlier posts shows, they've also invested less than 1% of their officially-declared GDP in US Treasuries.

Friday, December 19, 2008

Europe is keeping China (and America) going

A very interesting piece by Brad Setser, where he shows that the EU's currency strength and growing imports from China have offset the levelling in demand from America. His bottom line is that China's making money from us and lending it to the US.

Monday, November 10, 2008

All in the same boat

Mish notes that because it's a global crash, everyone is printing money and the relative value of the dollar has not plummeted as many expected:

... Looking ahead, it is quite possible that if all pegs were removed and the Renmimbi allowed to freely float, that the Renmimbi, not the US dollar would crash. Certainly the pound could crash (I think that is likely), and the EU might even break up.

Thursday, October 09, 2008

Hope

Brad Setser sees hope in the correction:

I increasingly suspect that one consequence of United States and Europe’s recent financial crisis will be a smaller deficit in both regions, and a smaller surplus in the emerging world.

Wednesday, October 01, 2008

Friday, September 12, 2008

LHC update

Two days after the Mighty Marmite Machine was switched on, and no news. Did they run out of shillings?

Or is this proton recycling thing one of those EU subsidy scams? * At 11,000 circuits a second, the turnover would much quicker.

But I still think it's really a bunker and escape tunnel to Switzerland (geographically the sane eye in the mad mask of Europe). The elite have something to flee from, as Tony Sharp points out - this is the 14th consecutive year of accounts rejected by their own Court of Auditors.

So how WAS the £4.4 billion spent, exactly?

I don't care; I'm off to look for the Great Wine Lake. If they'll tell me where it is, I'll sign the bl**dy accounts myself. **

* "In 2003 German authorities combined isotopic evidence with paper-trail analysis to put a stop to a sophisticated scam, known as "carousel fraud". A group of German companies had been illegally claiming subsidies by trading EU-made butter to and from Estonia (then not a member of the EU). Each time a butter lorry crossed the border from Germany to Poland the companies were given EU export subsidies. Once in Estonia the butter was repackaged and labelled to make it look like it had originated in Estonia, heaved back on a lorry and hauled back to Germany. This time, the importers took advantage of a tax break on foreign imports aimed at increasing trade with prospective EU member countries, as Estonia then was. The investigation revealed that 22 out of 25 butter samples taken from Estonian-labelled butter imported into the EU were not Estonian. In at least one case, the isotopic ratios of hydrogen and oxygen in a butter sample indicated it could only have come from Ireland."

** Wasn't a Chinese emperor deposed for excessive taxation, which he used to create an artificial lake and fill it with wine so that ships could sail on it and have mock battles for his entertainment?

Wednesday, September 10, 2008

Large Hadron Collusion

It came to me in a flash. How would you or I know the difference between decay products in a particle accelerator, and a sparkler in a steam bath? We've been had, Ron.

17 miles of construction deep below ground... It's a bunker! When the EU project finally and inevitably collapses, taking the economy of Western Europe with it, the corrupt, incompetent and eye-poppingly expensive politicians and bureaucrats are going to need a hidey-hole.

But what about the pipes and cables?
We saw them as Professor Brian Cox tootled along through the circular cavern, didn't we? D:Ream on. What we saw was a CGI loop, entirely familiar to computer games players. Beneath this illusory overlay is footage of working, sleeping and recreational facilities, water filters, air recycling machinery, food stores and all the rest. Like Slartibartfast on his planet-constructing world of Magarathea, the Euro elite will be able to sleep through the coming recession and return in time to impose fresh taxes and regulations.

Meanwhile, the border-straddling tunnel is a convenient way for them to pop across to Switzerland and check their bank accounts.

Wednesday, July 23, 2008

The EU and Radavan Karadzic

ITV's News at Ten last night covered the arrest of Karadzic, making the point that his identity and whereabouts have been known to the Serbs for years.

(The archive footage included an infamously misleading shot of Bosnian Muslims behind barbed wire, hauntingly reminiscent of the Nazi concentration camps; both at the time and again now, it was not explained that it was the camera crew that was penned in. Still, dramatic truth and all that.)

Whatever the terrible crimes of this man, the decision by Serbia's new, pro-EU government to "lighten the troika" looks primarily motivated by the desire to re-establish trade and diplomatic links with "Europe." So to me, the real story is the continuing expansion of the new European Empire.

The Balkans are being knocked into shape, or so the empire-builders think. Kosova declared independence in February 2008 (in the teeth of an attempted legal challenge by Serbia) and has been recognised by the USA and many other countries. The 100,000 Serbs in Kosova make up only 5% of the new nation's population, and compared to the 10 million in Serbia itself they are, presumably, of little account politically there, also. Besides, of course, Kosovans are not wolves.
But the question remains, how much more of Europe's former battlegrounds does the EU have the wealth and power to suborn, absorb and control? What will happen when its money runs low? Can its Babel-army sustain the territorial integrity of a hastily-constructed, ramshackle and heterogeneous empire? Will its gourmet diplomats and bibbed lawyers maintain law and reason under its young, yet complex and fuzzy legal and constitutional codes?

Saturday, June 21, 2008

Handy-dandy, which is which?

The two countries here each went to the polls to ascertain the will of the people.

The result in one case was declared unsatisfactory by the ruling party and an order given that the issue be readdressed within three months.
The result in the other case was declared unsatisfactory by the ruling party and an order given that the issue be readdressed within four months.

Robert Mugabe has yet to declare his candidacy for the Presidency of the European Parliament.

Our dear representatives

htp: "Nomad", in his comment on the EU Parliament post yesterday.

Friday, June 20, 2008

Shut down the EU Parliament

Just looked up a bit about my Parliamentary MP, whom I never see or hear. It set me thinking.

Who is your Euro MP? Exactly. And compared to EU MPs' pay, exes, fiddles and nepotism, Westminster MPs are poor relations and almost Simon-pure.

What do you think will happen when "ever-closer union" (that definition of a black hole) is achieved? A boom in ermine and coronets, silk swags and bunting, grand sandstone palaces, plum strudel at Demel's, superb black coffee, and secret police.

Somewhere even now, a new Jaroslav Hasek is inventing a new Schweik.
UPDATE
Here's how to find your MEPs. Does anyone you know, remember voting for them?

Sunday, June 08, 2008

For the record - a British MP speaking in Parliament on the EU's legislative control of the UK

From Hansard's records of Parliamentary debates (click title above for link) (htp: Peter Hitchens in the Mail On Sunday newspaper):

3 Jun 2008 : Column 644
Members of Parliament (Pay and Responsibilities)

3.35 pm

Mr. Peter Lilley (Hitchin and Harpenden) (Con): I beg to move, That leave be given to bring in a Bill to require the Senior Salaries Review Body to take account of transfers of powers between Parliament and European Union institutions when making recommendations on the pay of Members of Parliament; and for connected purposes.

In virtually every occupation, it is recognised that pay should reflect responsibilities. If people receive more responsibilities, they get higher pay. If they move to a post with fewer responsibilities, they expect to receive lower pay. The same should be true of Parliament. If, as is contemplated under the Bill that deals with the European constitutional treaty, this House hands over more of its powers to European institutions, MPs’ remuneration should reflect that diminution of their responsibilities. If, on the other hand, as my right hon. Friend the Leader of the Opposition has promised, Parliament regains some powers, such as those over social and employment policies that were conceded in the Amsterdam treaty, that should be reflected positively when MPs’ pay is assessed.

This issue is important because Parliament is considering transferring a significant slice of its powers on energy, foreign policy, immigration and several other areas to European institutions under the Lisbon treaty. A substantial transfer of powers has already occurred under previous treaties, and this House has ceded powers on a lesser scale to devolved Parliaments and to the judiciary under the Human Rights Act 1998. The German Government estimate that more than 80 per cent. of German laws are now decided at a European level. Our own Trade Minister has admitted that

“around half of all UK legislation with an impact on business, charities and the voluntary sector stems from legislation agreed by Ministers in Brussels.”—[ Official Report, House of Lords, 29 June 2006; Vol. 683, c. WA184.]

I have heard hon. Members claim that only 10 per cent. of our laws are made in Brussels—a figure that they attribute to a Library paper, but that paper says no such thing. It remarks that the number of statutory instruments laid under the European Communities Act 1972 amounts to about 10 per cent. of all the statutory instruments passed by the House, but points out that EU statutory instruments typically enact a whole directive, which is often the equivalent of an Act of primary legislation, whereas domestic statutory instruments implement regulations. To compare the two is like comparing apples and pears, or rather pumpkins and pears given the disparity in their size. It also ignores the most plentiful fruit that comes from the European orchard—regulations, most of which are never considered by this House and which hon. Members find difficult even to obtain.

The total scale of EU legislation is enormous. Last year, the EU passed 177 directives, which are more or less equivalent to our Acts of Parliament, and 2,033 regulations, which become directly enforceable in this place, not to mention 1,045 decisions. Even that huge tally ignores the extent to which our powers are diminished by our inability to do things that we would like to do because they would conflict with European law. When I was a Minister, officials would frequently say, “No, Minister, you can’t do that”, because something was within the exclusive competence of the European Union.

If the Lisbon treaty goes through, a further salami slice of powers will be transferred to the European institutions. The hon. Member for Birmingham, Edgbaston (Ms Stuart), who served with distinction on the European constitutional convention and who knows more about the implications of the Lisbon treaty than almost anyone else in the House, except for my right hon. Friend the Member for Wells (Mr. Heathcoat-Amory), recently told the Fabian Society:
“If the Treaty of Lisbon is ratified and devolution...continues apace, in fifteen to twenty years this House of Commons will have only two functions...to raise taxes and...to authorise war”.
She went on to say that we are making “fewer and fewer decisions that matter” to people’s daily lives, and that she could not tell her constituents that the buck stops here.

Admittedly, declaring wars kept Parliament pretty busy under the previous Prime Minister, as does raising taxes under the current incumbent of No. 10. However, our constituents want us to wage fewer wars, raise fewer taxes and focus on the huge range of issues that affect their daily lives, over which they assume and hope that we retain the powers that they pay us to exercise on their behalf.

Few voters, or even Members of this House, fully realise how many powers have been, or are about to be, transferred elsewhere. There are three reasons for this. The first is that Governments of all persuasions deny that any significant powers are being transferred. The second is that, once powers have been transferred, Ministers engage in a charade of pretence that they still retain those powers. Even when introducing measures that they are obliged to bring in as a result of an EU directive, they behave as though the initiative were their own.
Indeed, Ministers often end up nobly accepting responsibility for laws that they actually opposed when they were being negotiated in Brussels. They took the rap for costly and troublesome home improvement packs—which have added to the woes of the housing market—even though they were actually mandated by a Brussels directive. Similarly, they took the rap for fortnightly bin collections, hospital reconfiguration and a number of other measures, even though they had all been triggered by directives from Brussels. At first sight, it is odd that Ministers—who, in this Government, are not normally slow to blame others—should nobly defend and accept responsibility for Brussels’ legislative progeny, in whose conception they have often played little part. They prefer to claim paternity rather than admit impotence—the fate of the cuckold across the ages.

The third reason is that the transfer of power occurs not all in one go but by a process of salami-slicing, and it is easy to close our eyes to what is happening. As a result, there is a danger of Parliament sleepwalking into becoming little more than a provincial assembly. If that is what is happening, we should be paid accordingly—just as district councillors get less than county councillors, and county councillors get less than Members of the devolved Assemblies.

I do not have a masochistic desire to see MPs’ pay cut, but I want still less to see our powers diminish. The best way to prevent the latter might be to link pay to responsibilities. I do not know any Member of Parliament who entered Parliament to become financially better off. None the less, just as the prospect of being hanged in the morning concentrates the mind wonderfully, so the prospect of finding our pockets a bit emptier at the end of the month—and having to justify that to our spouses—might wake up those who have shut their eyes to what is happening. If we do not face up to what is happening, we will find ourselves being progressively relegated to what Bagehot called the dignified part of the constitution. As Tony Benn once rhetorically asked:
“I wonder how long it took for the yeomen of the guard to realise that they were no longer part of the regular army.”

My Bill is designed to provide a wake-up call whenever we risk going further down that route, although I accept that it has little chance of becoming law in this Parliament. Those who support the transfer of power from here to supranational institutions should logically accept that our pay should reflect the diminution of our responsibilities. But, strangely, all the Euro-enthusiasts whom I asked to sponsor the Bill declined to do so without explaining why. Too many Members are happy to avert their eyes from what is happening, so long as they retain the prestige and emoluments that were appropriate to a fully sovereign Parliament. Turkeys do not vote for Christmas.

If any Labour Members oppose the Bill, I hope that they will come out and object to it here and now, rather than trying to dispose of it by subterfuge one Friday morning. I look forward to hearing them argue for having their cake and eating it. I doubt that they would convince many of their constituents that, unlike any in other occupation, MPs’ pay should be divorced from their responsibilities.

Hugh Bayley (City of York) (Lab): We have just heard a witty and amusing speech. I was not aware that this issue was going to be raised today, but I was sitting in the Chamber listening to Transport questions and suddenly the right hon. Member for Hitchin and Harpenden (Mr. Lilley) rose to his feet and made this proposal. He said that he had asked a number of Euro-enthusiasts to back his Bill; I regard myself as a Euro-enthusiast, but he did not ask me. Had he done so, he would have given me advance notice that he was going to make this nonsensical proposal, and I would have been able to prepare a better speech. However, I shall certainly try to rise to the challenge that he has thrown across the Chamber.

The right hon. Gentleman argues that the volume of legislation to be considered by the House will decline as more and more powers are passed across to the European Parliament, but he knows as well as any other Member that the volume of legislation considered by this House continues to increase year by year. We have never suggested that that is an argument for increasing Members’ pay pro rata—

Stephen Pound (Ealing, North) (Lab): That is a good idea.

Hugh Bayley: I note what my hon. Friend says. Nor should the passing of some legislative powers from this House to Europe be an argument for moving in the opposite direction.
I must say seriously to Members of the House that I do not think that the European Union provides a good model for the remuneration of Members of Parliament. I have just checked with my hon. Friend the Member for Birmingham, Edgbaston (Ms Stuart), who is a sponsor of the Bill and well versed in EU matters, and she tells me that EU spend is about 0.5 per cent. of EU wealth. The spend of our national Government is probably about 40 per cent. of our national wealth, which is 50 or 60 times as much as the EU spend.

If the right hon. Gentleman is arguing that there is a serious transfer of financial responsibility from the House to Europe, that is just not based on fact. The Lisbon treaty not only does not change that fact, but it delegates some powers back to national Parliaments. The public want to see more information about MPs’ pay and allowances, but they would get less information if our pay was tied into and buried under bureaucracy from Europe. Surprisingly to my way of thinking, the Bill is proposed by a staunch opponent of Europe whom I would have thought could see that point himself.

The right hon. Gentleman is making a political point about Europe, not a serious proposal for greater transparency in the pay of Members of Parliament and greater accountability to the public for Members of this Parliament. I hope that the Bill does not receive its First Reading.

Question put, pursuant to Standing Order No. 23 (Motions for leave to bring Bills and nomination of Select Committees at commencement of public business), and agreed to.
Bill ordered to be brought in by Mr. Peter Lilley, Mr. Michael Ancram, Mr. Peter Bone, Mr. Graham Brady, Mr. Frank Field, Mr. James Gray, Mr. David Heathcoat-Amory, Mr. Edward Leigh, Mr. John Redwood, Ms Gisela Stuart and Mr. Charles Walker.
Members of Parliament (pay and Responsibilities)
Mr. Peter Lilley accordingly presented a Bill to require the Senior Salaries Review Body to take account of transfers of powers between Parliament and European Union institutions when making recommendations on the pay of Members of Parliament; and for connected purposes: And the same was read the First time; and ordered to be read a Second time on Friday 17 October, and to be printed [Bill 113].

Tuesday, December 18, 2007

What goes around, comes around

Rob Kirby quotes the Privateer newsletter's report that the European Central Bank is furious with Britain, for borrowing vast sums of Euros and forcing the stock of Euros to inflate.

Interestingly for me, he relates this action in part to the UK's having taken on so much of US Treasury debt, a matter on which I commented repeatedly some time ago.

Sunday, November 04, 2007

Much to discuss


"Business was off the agenda" said the Telegraph yesterday, about the Saudis' visit to Britain. I'm not so sure: somewhere in that 22-car convoy there may be a Saudi who had quiet talks with his opposite number about economic matters, while King Abdullah distracted the cameras.
Alex Wallenwein in SafeHaven yesterday reminds us that a month ago, the Saudis refused to cut rates to match the US. He sees the dollar's resistance to collapse as having bought time for European and Eastern economies, and the Euro currency, to strengthen their position. Soon, it may be takeover time, and contrarians who expect the dollar to bounce back may find that the trampoline has been whisked away.