Christopher Booker takes a look at the current crisis as it pertains to the EUnion and comes to his own conclusion: The financial crisis could be the euro's death knell ... and even end the shambolic EU.
At the very moment when Europe's banking system is teetering on the edge of collapse and national economies are in freefall, we might, perhaps, have expected the EU finally to live up to its more grandiose pretensions as the ' government of Europe'.Read the rest for a nice summation of the roles played by what should have been Leaders of the last few days and weeks.
Yet what have we seen by way of the EU's response to what is undoubtedly the most testing crisis in its history?
A few perfunctory fine words and empty gestures - and then the national leaders flapping off like so many headless chickens to pursue their own national interests, regardless of all those laws and principles which in easier times they were apparently so happy to sign up to.
The truth is that this massive banking crisis has exposed the hollowness, the impotence and the hypocrisy of the European Union like nothing before in its history.(...)
But what is doubly worrying about the EU in the current crisis is not just the questions it raises over the single currency, but the spectacular inability of the whole creaking edifice to respond in any meaningful way.
Especially pay attention to the contrast between the Bail-out and US politics (for better or for worse) and the anaemic, democracy-deficient 'mini-summit' organized by Napoleons retarded little brother:
The contrast has already been drawn between what we saw in America last week when day after day, amid the full glare of publicity, Congress agonised over whether or not it should pass that famous bail-out Bill.You really have to be blind to see that this EUnion is not fit for the job they took upon themselves (without asking, I might add).
At least that was democracy visibly in action, as senators and congressmen were besieged by their constituents urging them to vote one way or the other.
All we could offer in Europe was the spectacle of four national leaders briefly huddled together behind closed doors in Paris, without even a proper communique to tell us what they had discussed.
And just to hammer the point home: Spiegel is reporting a lovers' tiff between Merkel and Sarkozy (D). Seems that Nicolas is squarely blaming Angela for the dismal failure of the EU mini-summit.