As my older readers, and my archive checker, 'JK', will confirm, I have long maintained that it will probably be Italy that acts as a catalyst for the final disintegration of the euro. However, as Peter Oborne tells us in The Telegraph, they may need a little help from their friends like Greece. Even so, the end is not only nigh but absolutely and definitely inevitable!
It [Marxist theory] elegantly explains why European Monetary Union was destined to fail. The state socialists and former communists who invented the euro never got to grips with this aspect of Marxist thought. Only Conservatives with an intelligent appreciation of economics and history – an enlightened congregation that included Margaret Thatcher, Oliver Letwin, Peter Lilley, Tim Congdon, John Redwood, Nicholas Ridley and Alan Walters – grasped that the EMU would collapse under the weight of its own contradictions, and that it was folly to construct a single currency before the political conditions were in place.
Meanwhile the European elite who advocated the euro (British representatives included Michael Heseltine, Peter Mandelson, Tony Blair, Ken Clarke, Nick Clegg and Danny Alexander, at the time only a cadet member of the European political class, so perhaps the chief secretary can be forgiven) ignored all warnings. Indeed, Lord Mandelson is still advocating British membership!
The fact that it is the philosophy of Karl Marx which spells out the errors in the euro currency phantasy is simply too, too, delicious! Peter Oborne lays on the lash with real feeling:
It is impossible to exaggerate the arrogance, the bone-headed stupidity and above all the brutality and callousness of these Europhiles. Their demented attempt to impose a new economic model on an unworkable political structure has already caused untold suffering. At the heart of their project is an audacious attempt to prove the primacy of politics over economics. Bear in mind that it is an experiment for which the European elite personally do not have to pay a price.
Even so, it has amazed me that the people of Europe, particularly 'the Meds', have been so docile for so long:
The Italian economy is moribund, social cohesion has vanished and Italians are starting to turn venomously on immigrants. The Greek economy has shrunk by 30 per cent, and one quarter of the population is out of work. Youth unemployment in Spain stands at an unspeakable 50 per cent.
We are talking about tens of millions of ruined lives, and busted dreams. This reality has already brought about a convulsion in Europe. Entirely new political parties have emerged, from the far-Left and far-Right, brought into existence by a common scream of despair against a broken system.
The fact that many of them are turning to extremists parties of the Right and Left is very worrying - we have been here before! Oborne predicts that the break-up is not far off and that when it occurs the likes of Greece, Italy and Spain will depart but, more interestingly, he suggests that France will swallow its (not inconsiderable) pride and join together with Belgium and a few others to form a new country under German leadership - what I have been calling for years the New Frankish Empire! Here's the Old Frankish Empire:
I bow to Peter Oborne's very much more superior knowledge but I'm not sure the French would go for yet another surrender to Germany. In my opinion, they are more likely to try and form a coalition of 'the Meds' - led by them, of course! Anyway, the end of the euro is fast approaching and the soner the better. If it begins before next May then 'Dave' and the Tories will be a shoo-in!
David, quite an offering here. The French along with some of the Meds...all of them so broke they can't pay attention. What a world. Maybe such a possibility would drive Germany closer to Russia? When you see Brussels issuing currency with one side blank, it will be time to move all Brits well back from the shoreline.
Posted by: Whitewall | Thursday, 11 December 2014 at 19:02
Timing is everything.
If the EU collapses before Putin, he invades to deflect attention from domestic strife, and we all go to war in the time honoured fashion.
If Putin goes under first, then a fraternal relationship between the EU and Russia under Putin's successor might well follow until the EU collapses. Then we all go to war with each other in the time honoured fashion, until we try again with a better treaty / constitution.
Repeat for another 2,500 years?
SoD
Posted by: Lawrence Duff | Thursday, 11 December 2014 at 21:33
"If it begins before next May then 'Dave' and the Tories will be a shoo-in!"
Just like in May 2010!
Posted by: backofanenvelope | Friday, 12 December 2014 at 07:59
Duff -
I have been enjoying your blog for quite some time. I hope your readership is increasing. Your observations are spot on and delivered with great wit. I hope there are still a lot of folks like you left in the UK.
Consider this a pat on the back. Come back and read this the next time you are having a bad day.
Keep up the superb work.
Never, never quit!
Pops
Posted by: Pops | Friday, 12 December 2014 at 09:57
It's being so cheerful, Lawrence, that keeps you so young!
Pops, you are obviously a man of considerable taste and discernment, very rare amongst the collection of ingrates, grumps, nit-pickers and alcoholics who usually frequent these distinguished columns!
BOE, maybe so but that's better than Miliband, Balls and McNasty!
Posted by: David Duff | Friday, 12 December 2014 at 10:07
"collection of ingrates, grumps, nit-pickers and alcoholics"
Speaking as one of the above, I dispute your opinion that Milipede etc would be worst than YMD. They would be just the same!
Posted by: backofanenvelope | Friday, 12 December 2014 at 10:36
No, no, BOE, I have it from impeccable sources that you are not "one of the above" - but all of them!
Posted by: David Duff | Friday, 12 December 2014 at 11:00
Thank you!
Posted by: backofanenvelope | Friday, 12 December 2014 at 15:16
Unfortunately as history shows, the usual outcome of break ups of empire is violent realignment not peaceful, orderly cooperative ones, because fingers must be pointed, blame laid, advantage taken and, above all, the domestic mob kept in check by fight against an external enemy so they do not fall on the internal and true enemy, the Government and its ruling clique who got them into the mess in the first place.
Posted by: John B | Sunday, 14 December 2014 at 13:04
So once again we can offer up a prayer of gratitude to who, or what, gave us an island to live on.
Posted by: David Duff | Sunday, 14 December 2014 at 15:35