The ousted British prime minister accidentally saved the European Union. Now it looks stronger than ever.
There’s a lot wrong with the EU. In Brussels’ ghastly postmodernist European quarter, with its rampant sick-building syndrome, bureaucrats today can reappear tomorrow morning working for private law firms. Europe faces an escalating war, a cost of living crisis, probable recession and, in Italy, the first ever far-right government of a big member state. Then there’sThe EU might also lose its American protector if. Partly because of these threats, the EU looks unprecedentedly strong.
Instead, member states renewed their marital vows. They stared into the abyss, considered whether life would be better without the euro and stayed. Similarly, Brexit killed off other exit movements. Boris Johnson accidentally saved the EU. Brussels soon discovered it was easier to act without Britain blocking things.
Now Putin has helped the EU reforge a values union that so far, surprisingly, has held together. The union’s post-World War II raison d’être of “never again” no longer seems outdated after the mass graves at Izium. As Europeans prepare for Trump 2.0, they are shaping a sort of military union, which would include the UK. They have issued common debt and are stumbling towards banking union, energy union and even supply chain union. Of course member states are quarrelling about details.
The euro is keeping Italy’s borrowing costs down. In fact, the day after the far right won the election, Italian five-year bond yields were below Britain’s. As living standards of poorer Britons sink below Slovenia’s, the only “EU red tape” that Brexiters can find to slash is the cap on bankers’ bonuses.
Nigeria Latest News, Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Labor has to help the RBA’s inflation fightOPINION: The Reserve Bank has dialled back the hawkishness but can’t fall too far behind the US Fed. And the Albanese government has to help.
Read more »
Welcome to Tory conference 2022 – so bad even Michael Gove has drawn the line | Marina HydeMPs are already pining for the golden era of Johnson and Patel, says Guardian columnist Marina Hyde
Read more »
‘List of catastrophes’ for UK Prime Minster Liz TrussFormer foreign minister Alexander Downer says UK Prime Minister Liz Truss has never been a “popular public figure,” nor was she well known before assuming the top job. “She came into office in controversial circumstances with the resignation of Boris Johnson, the forced resignation of Boris Johnson,” he told Sky News host Chris Kenny. “Secondly, she introduced an unfunded budget … just to include tax cuts.” Mr Downer said the budget also contained a large spending package, which was “designed to undercut the price of energy” – which is estimated to cost up to £60 billion, or $AU105 billion, in a single year. “That, needless to say, led to uproar, and then to add insult to injury, it was obvious that the Conservative Party’s parliamentary members weren’t going to support the increase at the abolition of the highest rate of tax,” he said. “It’s just been a list of catastrophes, and it’s hard to see how this is all going to end up happily.”
Read more »
Engineering services biz SRG Global in investor charm offensiveListed engineering services business SRG Global is jockeying for investor attention just as Theiss gets ready to take MACA off the ASX boards.
Read more »
Florence, the machine, hits tunnelling trouble at Snowy 2.0One of the three huge machines drilling 40km of tunnels for the Snowy 2.0 pumped hydro project has had to be freed after becoming stuck, piling further problems on the complex construction.
Read more »