British Chancellor of the Exchequer George Osborne attempts to promote “greater fiscal union” across the EU is exposing Britain to even further danger of being included in the “harmonisation” programme which has already brougbt ruin to so many nations.
This was the view of Andrew Brons MEP, speaking to BNP Ideas after a debate on Economic Governance held in the European Parliament yesterday.
“Mr Osborne recently advised euro-zone countries that they had to accept the ‘remorseless logic’ of greater fiscal union across the Euro-zone,” Mr Brons said.
“He claims to believe that he can push the Euro-zone countries into an ever-tighter fiscal straightjacket, as the price for clawing back powers for Britain.
“This is, at best, highly hypocritical and doomed to failure,” Mr Brons said.
“However, it is also a dangerous game. Those who make constraints for others, might find that they (or their countries) will eventually wear the same shackles.
“We already have to submit our convergence programmes and fiscal data for scrutiny.
“How long will it be before full fiscal and economic harmonisation is imposed on all member states regardless of whether they are in the Euro-zone?” Mr Brons asked
* Mr Osborne made his remarks just prior to leaving for an EU crisis summit in Poland. Quoted by a Tory-supporting newspaper, Mr Osborne said that “Time is short. The Eurozone must now to implement as quickly as possible their 21st July agreement, resolve the uncertainty with respect to Greece and specify how they intend to fulfil the commitment made at last week’s G7 meeting to ‘take all necessary actions to ensure the resilience of banking systems and financial markets’”
He added that the “remorseless logic of the single currency was towards greater fiscal integration” and that this needed to be addressed as part of the response to the debt crisis.
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