On Reflection
Posted: 25 Jun 2016, 09:05
I believe the outpouring of Invective and sheer Spite from the EU comes from their sheer powerlessness.
During the financial crisis, the EU were the masters. In control, removing governments, wielding power.
Now? What?
We didn't join the Euro. So "well crash your banks" is not an option. We didn't join Schengen so "you'll have to reinstate the borders" is not an option. We have not removed our embassies to the world at large so "you'll have a huge cost to re-establish your presence in the world" is not an option.
What do they have left?
Huffiness. Threats. Anger. Spite.
But in all reality they are totally powerless in this situation. The power rests with they UK and they know it. The best they can do is try and down our economy by direct divisive action of the ECB, over whom we have no control, or veto.
Of course trying to trash the UK economy is fraught with danger. They rely on us way more than we rely on them so their 60bn of net exports to us would be hurt more. Also the more they trash the pound the better our exports do and we now do 55% of our export business with the rest of the world, not the EU. Which is why there is such a trade imbalance with the EU.
Oh and the UK is an Oil exporter too. So that benefits us if the £ drops.
I must admit, right now, I'm missing being in Brussels. I would be sitting in the Hairy Canary, or those pubs around it and Schuman and just listening.
The indignation, the outrage. We DARED. Yes we did and like an abusive and overly controlling husband; the EU is lashing out when the unhealthy relationship is being divorced.
I do wonder if anyone will ever subject the whole thing to a psychological analysis in later years. That would be fun...
During the financial crisis, the EU were the masters. In control, removing governments, wielding power.
Now? What?
We didn't join the Euro. So "well crash your banks" is not an option. We didn't join Schengen so "you'll have to reinstate the borders" is not an option. We have not removed our embassies to the world at large so "you'll have a huge cost to re-establish your presence in the world" is not an option.
What do they have left?
Huffiness. Threats. Anger. Spite.
But in all reality they are totally powerless in this situation. The power rests with they UK and they know it. The best they can do is try and down our economy by direct divisive action of the ECB, over whom we have no control, or veto.
Of course trying to trash the UK economy is fraught with danger. They rely on us way more than we rely on them so their 60bn of net exports to us would be hurt more. Also the more they trash the pound the better our exports do and we now do 55% of our export business with the rest of the world, not the EU. Which is why there is such a trade imbalance with the EU.
Oh and the UK is an Oil exporter too. So that benefits us if the £ drops.
I must admit, right now, I'm missing being in Brussels. I would be sitting in the Hairy Canary, or those pubs around it and Schuman and just listening.
The indignation, the outrage. We DARED. Yes we did and like an abusive and overly controlling husband; the EU is lashing out when the unhealthy relationship is being divorced.
I do wonder if anyone will ever subject the whole thing to a psychological analysis in later years. That would be fun...