All entries for Tuesday 13 December 2011

December 13, 2011

4 countries, 4 views of the Eurocrisis

The taz title on Saturday was brilliant, as usual: Merkel rettet Euro-krize taz_2011_12_10s1.pdf(Merkel saves Eurocrisis). Like a soap opera, it never ends, and it should not. To be precise, what started in 2008 does not deserve the definition of “crisis” in the κρίσις sense of moment of decision, because so far there has been so far little choice and little rupture: we actually have more of the same (more power for financial institutions, more inequality, more neglect of democracy, in short more privatisation of profits and socialisation of losses). It would be better defined as ‘shock’ perpetuation in Naomi Klein of Shock therapy, whereby every month or two we are faced to a new disaster, delivered with good timing by rating agencies, wits a There Is No Alternative message – the opposite of a crisis.

Yet at the EU-level we have now reached a sort of crisis, not so much on socio-economic issues (the agreement solves nothing and more austerity will only dig us into a deeper hole), but on UK-Europe relations. I had the luck to observe the last three weeks, building up to the agreement of last Friday, from the four largest EU countries, while travelling between Paris, Coventry, Milan and Hamburg. Despite information being increasingly transnational, reports are quite different country by country. In the UK (except for FT and Guardian) the summit was a British victory (!!!), in France and Italy, a German victory, and in Germany, a German half-defeat, because already in January Italians and Spaniards will come asking for more cash and Germany has gained no new excuses to say no. These differences of perception make a Euro-polity still difficult to imagine, but at least shows that national political spheres still matter, and at least at that level some debate could take place.

In European politics it happens what I always tell my English students when I try to raise in them at least some interest in international issues and foreign languages: Europeans know much more about Britain than Britain about Europe, which is a competitive disadvantage for the Brits, for instance in the hierarchy of multinational companies. This fact has perhaps a more flattering side for the British: Europe is fascinated by the extravagant British, while Britain's interest in Europe is limited to sunshine and little else. In any case, reports of British politics in European newspapers are much deeper and better-informed than British newspapers’ reports of European affairs, except perhaps for The Economist and FT, which are more global than British. Le monde, die Welt, die FAZ have published detailed analyses of Cameron’s stance, although opinions differ: for Le monde and die Welt Cameron is authentically anti-European and will eventually bring the UK out of the EU (you can see the happy smile of the journalist through the lines at this point), for der Spiegel he is just an opportunistic tactician, who embraced anti-Europeanism only to get elected as Tory leader in 2005 and now simply avoids at any cost any treaty renegotiation, which would break up his government and his own party. By contrast, British medias’ analyses don’t go beyond stereotypical portraits of Merkel and Sarkozy, failing to spot that within a year or two both Germany and France will be much less Anglophile than today. At the SPD congress last week-end many spoke up to wish a British exit, to finish off with free riders and with obstruction. Le monde has regularly wished the same for very long (I suspect, since 1973). Italians have to keep a low, penitent profile nowadays, but Repubblica still hopes that Clegg will one day grow up, leave the coalition and send Cameron, rather than the whole country, out of the UK. By the way, even in the new member states, its natural allies, Cameron finds few sympathetic voices except in Hungary and the Czech Republic, due to his decision to combine with nutty populist righting parties from Central eastern Europe in the European Parliament.

The funniest reports are certainly the British rightwing press triumphal reports of a ‘victory’ and a ‘veto’: according to them, 26 countries have remained isolated. Indeed the agreement of last Friday does not change much. Read for instance the interesting interview with Sarkozy in Le monde, where a new 85%-majority voting system on the European Solidarity Mechanism is mentioned, which would give the UK, France, Italy (and if they were there, the UK!) a veto power. In the short term, the new EU-26 financial regulations cannot go against the single market and punish the UK for its non co-operation, especially on a possible Tobin Tax. But over-time, excluding the UK from all new ‘enabling’ financial regulations may isolate and damage the City of London, that 28th, non democratic EU country (see the analysis by George Monbiot in the Guardian). Maybe the next UK elections would be a moment of crisis for British voters: the time to choose between staying with the EU-26 or with that 28th country (by then 29th: welcome Croatia).


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