notion of "ever–closer Union" in Europe and, above all, against British involvement in a single European state. German Economic Policy and the Euro the main problem that the Euro faces is not the fiscally profligate and politically incompetent and corrupt Greece or its Latin neighbours, the problem is the ruthlessly competitive Germany. They have still not understood that the problems within the Eurozone stem from the deliberate conduct of German economic policy via the ECB and the effect of the huge disparity between the German economy and those of the Mediterranean-Rim countries. is draining the resources of the Eurozone’s smaller economies. Mediterranean-Rim countries are caught in a debt trap where their economies are suffering, they are incurring debt and must then impose austerity measures which further weaken their economies. Yet their economies will not grow so long as the Euro helps German manufacturers dominate the Eurozone. Eurozone. Even the UK has taken on some of the costs of bailing out part of those economic problems. Only in the corrupt corridors of Brussels can this be considered right. Click here to read the full analysis The Bruges Group is determined to fight for a Britain free of the EU and to expose how Britain, as a result of EU rules which have their legal base in the EU Constitution (the Lisbon Treaty and its amendments), has also been involved in paying for some of the harm caused by the Euro favouring German economic interests. How to Donate Online via your credit or debit card or by PayPal use this form to donate by credit or debit card, and send to: Or transfer the funds NEXT MEETING economic wellbeing, have been grievously wounded by the UK’s membership of the European Union. And according to many experts the Government’s EU Bill, contrary to what has been claimed for it, at best does little to address this and may actually weaken Parliamentary Sovereignty. To explore this the Bruges Group has instituted this meeting to discuss the important issues of Parliament, the EU and National Sovereignty. The speakers will be Bill Cash MP, Chairman of the European Scrutiny Committee, and Peter Oborne, columnist for The Daily Telegraph and author ofThe Rise of Political Lying and The Triumph of the Political Class. Thursday, 24th March 2011 ADMISSION: £10 payable on the door or in advance To purchase your ticket visit: this e-mail WITH THE SPEAKERS Peter Oborne and The Triumph of the Political Class. He is particularly known for acerbic commentary on the hypocrisy and apparent mendacity of contemporary politicians; especially the misuse of MP's allowances. The Truth, examining how the major political parties in the UK allegedly pursue an agenda designed to appeal only to a narrow band of floating voters. publication; Professor A.J.P. Taylor on Europe. of the House of Commons European Scrutiny Committee. He was also Chairman of the Conservative Backbench Committee of European Affairs 1988-91. In advance of what became the Maastricht Intergovernmental Conference Bill declined a Government position in 1991, choosing instead to orchestrate opposition to the Maastricht Treaty and founding the Maastricht Referendum Campaign. Bill was voted Parliamentary Campaigner of the Year 1991 by an independent panel of journalists. Group in the House of Commons. His publications include; Associated, Not Absorbed – The Associated European Area, Are we really Winning on Europe?, Against a Federal Europe: The Battle for Britain and British and German National Interests. LOCATION: AGENDA: -------------------------------------------------------------------------------------------------------- For further information contact:
German Economic Policy and the Euro
Why the Euro cannot survive with Germany at its centre
Parliament, the EU and National Sovereignty
Thursday, 24th March 2011
Why the Euro cannot survive with Germany at its centre
Contrary to prevailing opinion among the European political class
The Euro has effectively become a German currency empire which
The harm that German policy is causing is so severe that the
Germany’s success, however, is not just hurting other states in the
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Parliament, the EU and National Sovereignty
Britain’s democracy and sovereign independence, as well as our
6.45pm for 7pm
Including wine, orange juice, mineral water and nibbles
www.brugesgroup.com/meetings
Or call Robert Oulds on 020 7287 4414, or reply to
Alternatively you can click here for a form to book your place
Peter Oborne is a British journalist and political commentator. He is the author of The Rise of Political Lying
Peter regularly appears in the media and presented a Channel 4 programme called Why Politicians Can’t Tell
He is also a Daily Telegraph columnist. Peter Oborne, a long standing Eurosceptic, wrote the foreword to the Bruges Group
Bill Cash MP
Bill Cash is the Member for Stone and was Shadow Attorney General from 2001 to 2003. He is the Chairman
Bill Cash is the Chairman of the European Foundation and was also Chairman of the Parliamentary Friends of the Bruges
Princess Alexandra Hall, Royal Over-Seas League, Over-Seas House
6 Park Place, St James’s Street, London SW1A 1LR
Lectures: 7pm – 8pm
Discussion: 8pm – 8.30pm
Wine and refreshments: 8.30pm – 10pm
Robert Oulds
Director
The Bruges Group
227 Linen Hall, 162-168 Regent Street, London W1B 5TB
UK
Tel: +44(0) 20 7287 4414
Mobile: 07740 029787
E-mail: info@brugesgroup.com
Economic Dictate
The hefty dissention over the future course of the EU's economic policy had already escalated during the February 4 EU summit meeting in Brussels. It was truly a "surreal" summit, at which Germany, with French backing, sought to impose its concepts of economic policy, reported the Belgian Prime Minister Yves Leterme. "There were 18, 19 countries who spoke up to make known their regret on the way it was presented and also on the content," said Leterme.[1] Without previous consultations, Berlin and Paris presented a comprehensive package of measurements calling for the adjustment by each national economic, social and fiscal policy and stipulating each of the Euro zone member nations accept its obligatory character.
German Mark
The mark of the German economic policy, aimed at massive salary reductions, general economic insecurity and aggressive export orientation, is unmistakably recognizable within the individual provisions of the "EU Competitiveness Pact". The pact, which is described as the nucleus of a future EU economic governing body, provides for the Euro zone nations to introduce "debt limitations" patterned on the German model. In addition, the future retirement age should be adapted to the demographic development, which, for the majority of the EU nations means it would have to be raised. The "pact" also provides for the elimination of the increase in salaries to adjust to the development of inflation, which is the norm in every Euro zone nation. Finally, the corporation tax rates should be standardized throughout the Euro zone. Berlin and Paris' demand that the "pact" be rapidly adopted outside of the EU's institutions, in the framework of multilateral treaties, has provoked even more outrage.
Social Overkill
Particularly Belgium's Prime Minister, Yves Leterme and Jean-Claude Juncker, Prime Minister of Luxemburg and President of the Eurogroup, protested against eliminating the increase in salary, to keep up with inflation levels, and raising the retirement age. These proposals would signify "social overkill" protested the summit participants.[2] Even Austria, which usually is considered Berlin's tried and true ally, criticized the pact. Italy's Franco Frattini was one of those publicly criticizing the fiscal standardization and the "debt limitations". Frattini, who considers that Italy was disadvantaged in this internal European power struggle, demanded that the discussion of the EU's future economic and budgetary policy involve all of the EU nations. There should be "no single group leading the other nations." Irish Prime Minister, Brian Cowen engaged French President Sarkozy in a heated argument.[3]
Core and Periphery
The German-French offensive has provoked indignation also among representatives of the Eastern EU nations, fearing a division of Europe could be galvanized into core and peripheral EU countries. "Why do you have to demonstrate a division," complained Poland's Prime Minister Donald Tusk, "are the rest of us standing in your way?" Warsaw has "basic doubts about these methods" aimed at establishing an "economic governing body within the Euro zone". The Hungarian Prime Minister, Victor Orbán even labeled the German-French initiative an "unfriendly act." The Slovak Prime Minister, Iveta Radocová also rejected Berlin's plans: "If there is a proposal to have a uniform retirement age in all of the EU countries, then I regret, but I to have to say no."[4]
Completely on the German Model
Many newspaper columnists criticized this German offensive even more bluntly. The Italian business journal, Il Sole 24 Ore, for example, unambiguously warned against a "codex for Europe's gradual Germanization." For example there is "not a word" in this German-French pact concerning the demands by numerous Euro zone countries for a rectification of the German trade balance surpluses, which are driving Southern European countries into debt.[5] Instead, their paper proposes "to raise the retirement age" and "halt salary adjustments" along the lines of the German model and threatens sanctions against those countries that refuse to take these steps. The impending "European economic governing body" will be implemented "completely along the lines of the German model."[6]
Coup d'État
The Greek daily, To Ethnos, was also outraged over the putschist manner of Berlins approach. "Europe's employees are growing ever poorer!" warned the left-liberal journal. "The way decisions are currently being expedited in the Euro zone and the EU, resemble a coup d'état." "The methods used to impose these measures" are "utterly unacceptable" especially since they "will radically transform the lives of all European citizens."[7]
Too German
Even in the Polish media, which had mostly avoided tones critical of Germany, since Donald Tusk introduced a rapprochement policy toward Berlin, have now begun to effusively warn against - in the words or the weekly Tygodnik Powszechny - an "all too German Union."[8] The liberal pro-German daily Gazeta Wyborcza prophesied a "division of Europe" imposed by the "Competitiveness Pact". The daily, Gazeta Prawna made the calculation that Poland's joining this "Competitiveness Pact" would result in a loss of 160,000 jobs. In spite of these warnings, at the trilateral ("Weimar Triangle") summit with Poland's President Bronislav Komorowski, Merkel and Sarkozy insisted on Poland joining the Euro zone and the "Competitiveness Pact" soon.
Crisis as Leverage
The most important point of leverage at Germany's disposal in this power struggle for the "Germanization of the EU" derives from the European debt crisis. Berlin has already made it clear that it would only agree to enhance the Euro bailout measures, to salvage the highly indebted Euro zone countries from national bankruptcy, if the EU passes the "Competitiveness Pact". This also places the EU countries under heavy time pressure. Already at the upcoming March 24 - 25, EU summit, a comprehensive crisis package, which will also include the sharply criticized pact, is supposed to be adopted.[9] The outlines of German plans for the European economy are clearly defined. Berlin seeks to form a European Union in its own image, which will pursue an economic policy as aggressively and as export-oriented at the global level as Germany. This EU is to be created at the expense of the employees, who will be driven even deeper into poverty. Should this economic Germanization of the EU fail, Berlin seems prepared to risk a total collapse of the crisis ridden Euro zone, which, due to the dynamics of the crisis, is successively becoming less useful as an export market for the German industry.[10]
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