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The Euro: time for fundamental reforms

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The Euro was never constituted to act as a "bank" of last resort for its members. The fudge being put together for this week's meetings will cost the EU not just eZillions but prevent growth in all but Germany and push us all into another bout of recession. This tells you that most other members of the Eurozone do not have 21st century banking systems which are properly regulated. That this should still be the case nearly four years after the banking crisis tells you much about the sclerotic state of European politics too.

Meanwhile, when the next three days are so important to us all, what does the Tory right want, it wants to have a vote in parliament to enable a referendum to pull us out of Europe. Dear me, if Europe is bad, the Tory right is still in the mid 19th century; a case of Jonny Englander writ large.


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