More on Euroland

Over the past few months I have gathered a wealth of links to articles on the crises in the EU and the eurozone. When the time comes for the history of the political failure underlying the crises  to be written what will be noted above all else is how citizens have suffered.  The eurozone, born by political hubris, has been the cause of much misery and even when the world comes out of recession, the problems of eurozone countries with uncompetitive economies still will need to be addressed.

The issues have been well-rehearsed on this blog over a considerable period of time and it is not my intention to reiterate them.

But what of the future?  My current opinion is that the political will to ensure its survival with all its current members is strong, but there are dangers ahead.

Should Sarkozy lose the French presidential election this year and the ECB not be given the power of a central bank (in order to mollify Germany) then my opinion might change.  The major danger is the extent to which citizens in countries suffering austerity will continue to accept their miserable lot.

Some EU states and the EC are pressing for greater EU integration.  One cannot help but think that the heady mixture of austerity and demands for further integration will be explosive.

http://www.telegraph.co.uk/finance/financetopics/davos/9041508/Davos-2012-David-Camerons-stop-tinkering-call-wins-Britain-few-friends-in-Europe.html

http://www.telegraph.co.uk/finance/financetopics/davos/9042946/Davos-2012-David-Cameron-hits-out-at-EU-over-euro-failings.html

http://www.telegraph.co.uk/finance/financialcrisis/9042963/Investors-fear-mounting-losses-in-Portugal-as-second-rescue-looms.html

http://www.spiegel.de/international/europe/0,1518,811607,00.html
Excellent article on Merkel's position.

http://www.telegraph.co.uk/finance/financetopics/davos/9041788/Davos-2012-Can-the-Germans-stop-being-German.html
Counter balance to previous link.

http://www.telegraph.co.uk/finance/financetopics/davos/9043892/Davos-2012-German-minister-hits-out-at-Britain-over-fiscal-treaty.html
Interesting article.  See also link below.

http://www.spiegel.de/international/europe/0,1518,811791,00.html
This is an excellent article, sets out the consequences of Cameron's veto last December.

http://www.spiegel.de/international/europe/0,1518,811792,00.html
Read this and then the following:

http://www.telegraph.co.uk/finance/financetopics/davos/9044122/George-Osborne-Europe-must-show-colour-of-its-money-to-get-extra-bail-out.html

http://blogs.telegraph.co.uk/finance/ambroseevans-pritchard/100014413/the-european-fallacy-of-ireland-and-the-baltics/
Sombre article.

http://www.telegraph.co.uk/finance/financialcrisis/9045516/Greek-debt-deal-hit-by-eurozone-ratings-downgrades.html

http://blogs.telegraph.co.uk/finance/jeremywarner/100014410/europes-firewall-demands-just-keep-growing-and-growing/

http://www.telegraph.co.uk/finance/financetopics/davos/9046297/Europe-has-just-weeks-to-act-warns-Chancellor-George-Osborne.html

http://www.telegraph.co.uk/finance/financialcrisis/9046820/IMF-tells-Greece-it-will-lose-control-of-budget-in-return-for-bail-out.html

http://www.telegraph.co.uk/news/worldnews/europe/eu/9047439/David-Cameron-will-stand-firm-on-EU-treaty-veto-says-Iain-Duncan-Smith.html

http://www.telegraph.co.uk/finance/financialcrisis/9047124/Brussels-takes-control-of-taxation-and-spending-in-eurozone-countries.html