From Tom McGurk (who also, like Paul Krugman, uses the “Modest Proposal” analogy of eating our children…) – The crisis is an EU matter, so an EU solution must be found:
Ultimately, under the terms of the European Stabilisation Mechanism established in Brussels last May, the final arbiter in its operation is the eurozone Council of Ministers, acting by qualified majority.
Therefore, our crisis is an EU matter, So we must find an EU solution.
Over the last 20 years – despite opposition by some people, including myself – we gradually ceded to Brussels complete economic control over our currency and exchange rates.
We joined the eurozone and adopted the single currency in the hope and expectation that it would alter radically our society and economy.
Then we Voted on Nice and Lisbon – twice on both occasions – until we gave the ‘right’ answer.
We had good years in Europe but now, looking down the road, who can argue that its embrace threatens to alter our country beyond our wildest imaginings?
Although the process of Europeanisation has almost bled our sovereignty dry,at least there remains our democratic system. In a few months’ time, we must use this system – and the forthcoming election – to draw a line in the financial sand, and say no to total responsibility for the bank debt.
We have to ensure that the political parties will give that guarantee. If they are not prepared to, then we must find other men and women to stand in the election who will.