The Euro crisis? It’s now become a game of chicken

Now here’s a lady who should be listened to. Conatanze Stelzenmuller of the German Marshall Fund. If you wanted a commonsense perspective on the Eurozone crisis, this is it. She’s so refreshingly direct, and talks a whole lot of common sense. What a change from the diet of virtuous political twaddle we have to endure.

What’s Germany up to? It’s a game of chicken. It’s a bit obvious really. Why would Germany not try and lock in every possible reform before agreeing to provide the funds to save the Euro? It would be absolutely mad not to do so. Countries like Italy have got to learn fiscal responsibility and work within recognisable rules. Fiscal union will be the final outcome whether some countries like it or not – and make no mistake, fiscal union would not have been on the agenda if this crisis had not happened.

And Britain? Quite rightly she points out that Britain is a fully integrated member of the Eurozone whether it uses the currency or not. To say otherwise would be ‘delusional’. She’s right. We are becoming a laughing stock, standing on the sidelines carping. Sarkozy was right to snap at Cameron – who has shown himself to be weak and unconvincing. He appears to be more concerned about the mutterings of eurosceptic Tory nutters than he is about the fate of the Eurozone – and our future, the two – in case he hasn’t noticed – are inextricably linked.

Listen to what Constanze Stelzenmuller has to say:

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