Elections in both France and Greece have a message to European leaders that voters are unhappy with the austerity measures ordered by the European union.
Lord Peter Mandelson told the Today programme that, should Greece decide to leave the Eurozone following the election, it would call into question the future framework of the Euro.
"It would put a question mark over the risk of contagion - market contagion and panic - spreading from Greece to other periphery countries in the eurozone," he said.
"But I'm not at all convinced just now that Greece is going to do that - because Greece has no access to market funding, to finance its national needs."
He said that the "top priority" for new French president Francois Hollande and German chancellor Angela Merkel will be to stop the Eurozone from splitting, but that greater political integration will be required to achieve that end. #Eurozone #Greece #Mandelson
Lord Peter Mandelson told the Today programme that, should Greece decide to leave the Eurozone following the election, it would call into question the future framework of the Euro.
"It would put a question mark over the risk of contagion - market contagion and panic - spreading from Greece to other periphery countries in the eurozone," he said.
"But I'm not at all convinced just now that Greece is going to do that - because Greece has no access to market funding, to finance its national needs."
He said that the "top priority" for new French president Francois Hollande and German chancellor Angela Merkel will be to stop the Eurozone from splitting, but that greater political integration will be required to achieve that end. #Eurozone #Greece #Mandelson
about 1 year ago
Mandelson: '...greater political integration will be required to achieve that end'.
And of course you and your New Age pro-EU, anti-traditional British values and history mates in the Labour Party would just love that, wouldn't you Mandy.
Not if a lot of us can help it. The Euro was always a disaster in the making. One exchange rate - set to suit Germany - could never do anything by hurt other economies. Why they signed up for it I'll never know but I reckon a lot of money changed hands behind the scenes and as we know those countries, like Ireland, who said No were simply advised that they had made the wrong decision and to try again.
We all know Germany would have done no such thing. I said ages ago that Greece should be helped to default and withdraw from the Euro in the least damaging way possible.
Remember this: does anybody seriously believe that Germany would have joined the single currency if the single exchange rate had been set to suit Ireland's economy? Or Portugal's? Or Spain's? Or Italy's? Or Greece's.
The 'Common Market' that we were asked to vote on long ago is now nothing of the sort. The EU is a German-led plan for A single European super-state with its own flag, parliament, anthem, laws and army, and is already considerably in evidence. It has been the aim of Germany since it became a single unified nation under Bismark in 1870. That dream was recently repeated and reinforced once again by current German president Angela Merkel who, with echoes of the past, warned of a breakdown of peace should things not go Germany's way.
France are concerned and will inevitably fall out again with Germany one day. At that point no doubt the French will seek Britain's help, which is a bot much given the rudeness and disdain Sarkozy displayed towards us.
Europe is stagnant and top-heavy with beaurocracy. Tomorrow's opportunities lie further afield in the East and in the southern hemispheres. We should be planning to focus our energies on expanding, very belatedly and as our major European competitors have done already, our business with those areas and get out of the EU. ONly they will never put that to the British people to vote on because they know the majority of people would vote to withdraw. Thus, democracy continues to be undermined and representation of what the people want denied.
tgw123 about 1 year ago