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Gordon Brown on saving the Euro zone

Gordon Brown on saving the Euro zone
August 16th, 2011
Author: Jeff Taylor

Writing in the New York Times Gordon Brown, ex prime minister and chancellor of the UK, lays out his road map for the salvation of the Euro zone.

In his opinion piece in the International Tribune, Gordon Brown seems to call for nothing short of an acceleration into a fully fledged European super-state.

He asks how can a small country like Greece have brought the Euro zone to the brink of collapse and what should now be done to save the day.

He claims that he saw the terminal flaws in the Euro zone project ‘some time ago’ and that there was now no saving it without fundamental reform. The choice was either change or collapse. And that ‘After the events of the last few days I know for sure there is not even a chance of a middle way’.

Accusing the Euro zone of ‘remaining doggedly behind the curve’ Gordon Brown says basically that a crunch time had arrived. They must now agree a pan European undertaking to undergo a massive bank recapitalisation, a total reforming of the Euro with co-ordinated fiscal and monetary union including transfers of wealth from rich countries to poor countries as well as a common ‘European’ debt facility.

This will also he says ‘…require right across Europe the kind of radical capital product and labour market reforms only a few countries have tried’.

This all sounds like one way street to a totally federal Europe to me, for which the big rich countries like Germany and France will have to pay.

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2 Responses to “Gordon Brown on saving the Euro zone”

  1. Thom. says:

    None of the existing treaties provide a mechanism to apply such a move.
    Even those countries with weak constitutions still by their very nature cannot accede to it – by the very nature of a Nation State such a move is abhorrent.
    Either those National politicians who are mandated from Brussels can contravene the very apparatus that their power rests on or the matter must be put to their electorate.
    Short of that, it's a tanks scenario….

  2. Root Striker says:

    Agreed Thom. With Germany they cannot agree to a union unless not only the German people, but all the people of the EU agree. I gather it's part of one of their constitutional court rulings.

    But the EU machinery itself is heard towards union at all costs, so something has to give.

    So, if the people of Europe think (or can be made to think) that a union is the only way to save their way of life then who knows?