Fainting in Coyles An occasional letter from the
Heart of Euroville
Tuesday, November 25, 2003
So who will own up – The Euro isn’t working
Classic stuff from the EU last night as they battled to a no score draw.
The infamous Stupidity pact (copyright Romano Prodi), has come yet another cropper. As everybody had guessed when it came to a showdown between the European Central Bank, the small countries within the Eurozone and the big boys of France and Germany it was the French and Germans who won. This is the same day, please note, that Chirac used his Gallic charm to warn Britain that only the founder members count, (That’ll be France and Germany again).
Due to Britain’s good sense to be outside the travails of the Euro Gordon Brown was not kept up until 4 am last night to deal with the inevitable defeat. Instead it was left to the preposterous and Elfin Didier Reyders – the Belgian Foreign minister to piss into the wind.
“Deficit offenders can in theory be fined up to 0.5 percent of GDP. Belgian Finance Minister Didier Reynders said financial sanctions are unlikely.
“We aren't yet talking about sanctions,'' Reynders said. ``We hope never to reach that stage. The procedure is to apply pressure -- peer pressure.” I would love to see the result of Belgian sanctions.
No more stella Artois and choccys for you big boy