Too little, too late.

My avid reader will not be surprised by my declaration that I am sceptical about much of the EU, EC and eurozone projects.   But I am not anti-European. The most serious issues for me are the democratic deficit in the EU and the disconnection between citizens and rulers.  The vision thar has driven the EU project, a united Europe, is a noble one when set in the context of the history of warring nations.  Sadly, the project has failed, nationalism is on the rise, the extremists of the Left and Right are growing in strength, citizens feel disenfranchised,  power has leaked away from national democratic institutions.

Meanwhile:

http://blogs.independent.co.uk/2012/05/31/irelands-vote-begs-the-question-will-the-eu-be-the-death-of-democracy/

http://www.telegraph.co.uk/finance/financialcrisis/9302244/Draghi-tells-EU-get-a-clear-vision-for-euro-or-risk-disaster.html

http://www.telegraph.co.uk/finance/financialcrisis/9302244/Draghi-tells-EU-get-a-clear-vision-for-euro-or-risk-disaster.html

http://www.telegraph.co.uk/finance/financialcrisis/9301415/European-Commission-calls-for-bank-union-in-radical-policy-shift.html

http://www.independent.co.uk/news/world/europe/markets-in-spin-as-antibailout-party-rises-in-greek-polls-and-spanish-borrowing-costs-soar-7805083.html

http://www.independent.co.uk/news/business/news/spain-thrown-lifeline-by-brussels-with-extra-year-to-cut-deficit-7805034.html

http://www.nucleus.uk.net/home/item/it-s-the-members-not-the-club?category_id=1#comment-2051
But what could Spain do?  It cannot raise interest rates.

http://www.telegraph.co.uk/finance/financialcrisis/9302820/EC-urges-quick-Bankia-rescue-plan-to-end-uncertainties.html

http://www.telegraph.co.uk/finance/financialcrisis/9303035/Capital-flight-from-Spain-hits-record-66bn.html

http://www.telegraph.co.uk/finance/financialcrisis/9303540/Eurozone-crisis-investors-shelter-in-the-safety-of-German-bonds.html

By the way....

http://blogs.independent.co.uk/2012/05/31/david-cameron-did-the-right-thing/