The News In Shorts

How the news would look if everyone stopped waffling and told the truth.

Thursday, 24 May 2012

EU Conference Sits On Its Hands.

The EU Conference ended today with agreement that growth should be their primary objective and absolutely no agreement as to how that will be achieved. France and Germany are now clearly on different tracks with their customary united front entirely absent. Angela Merkel's contribution was to tell the Greeks to continue pauperising themselves or else while that country's exit from the Euro loomed ever-closer. David Cameron stood up for the rights of bankers, making it plain that he would not support a tax on the finance industry because that would damage Britain's interests and cause job losses. Apart from the sheer hypocrisy of David Cameron worrying about unemployment, something that has never bothered him before, his fierce support of the City is sickening. One of the first excuses the Tories used against the idea of a finance tax was that it needed to be done on an international basis. Faced with just that he has no choice now but to fall back on a weak and specious arguments to protect his rich mates from the levels of taxation that the rest of us have to suffer. Of course he will soon be portraying his refusal to support the idea as a "veto" while Europe will still go ahead ignoring us completely. The Euro is now plainly falling apart and the EU itself is in grave danger of following suit with even Labour now considering a referendum on Britain's membership. The neoliberal economic thesis is edging ever closer to its inevitable endpoint - the effective destruction of the world economy as the greed and stupidity continues to pour sand into its metaphoric gearbox and engine.

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