THE EU - LET THE PEOPLE DECIDE

 

When David Cameron and Angela Merkel meet en famille

this week-end, perhaps they should consider matters other

than the redundant question of re-structuring the EU to

allow subsidiarity in key areas for its members. The

German Chancellor is quite clear that she wants more

rather than less Europe, so any significant changes are

not going to happen. Likewise, any such move

transferring sovereign powers back to Westminister is 

a dead duck. More specifically, they should be 

addressing the economic inconsistencies of the deeply

flawed EU project.

The asymmetrical, opaque and unaccountable financing of

the EU budget - not signed off for the past eighteen years - 

involves Germany and Britain providing the majority of

money transfers to the seventeen recipient member states.

Little wonder there is no shortage of other countries wishing

to join a club where they will continue to be paid substantial

and increasing sums for being members.

From a UK perspective with the national debt predicted to

continue rising until 2017/18, the Prime Minister, should

revue the cumulative £100bn cost of the UK's EU

membership, to which has to be added the aggregate sum

of £320bn for the implemention of red tape.This, of course,

pales into insignificance when compared with Germany's

contribution. But how long can this last when Germany,

along with the other twenty-six other member states, is

running a negative debt to GDP ratio and experiencing

nil growth.

The answer lies in the European Central Bank's continuing

to print money, until rising inflation heaps further misery

on harsh austerity. And herein lies an economically suicidal

madness. The European Central Bank bales out Greece

and Cyprus which are heavily indebted to Germany. So,

who provides the money for the bail-outs? You've guessed

it - the Bundesbank. 

By 'more Europe', Angela Merkel means a politically and

economically integrated  federal Europe, precisely

what the EU founding fathers always wanted. It was

their intention that it would be controlled by a German-

French axis. However, now that the French economy is

almost on life-support, that leaves Germany, the EU's

paymaster calling the tune.   

David Cameron knows that any re-casting of the UK's

relationship with Europe will be extremely difficult.

Britain makes a growing and unrealistic contribution to

the EU budget - funded by borrowed money. It has a large

and increasing trade deficit and declining exports to the

EU,  while those to rest of the world are increasing. Now

is the time for the Prime Minister to let the people decide

in his promised referendum,.not in the next parliament,

but at the 2015 General Election.