Thursday 19 February 2015

The European project is in its death throes – The problem with this agreement, which Ferguson calls "the founding charter of the United States of Europe", is that it has far-reaching political consequences for which the leaders of the eurozone have no mandate. It doesn't simply commit the 17 member states to relinquishing control over their own fiscal policies – that would be bad enough. Rather, it commits them to a policy of fiscal rigidity – "budgets shall be balanced or in surplus" – that they will be bound by in perpetuity : Telegraph Blogs

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