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'No leadership, no authority'

Wednesday, 17th August 2011

"The global response to the Merkel/Sarkozy proposals should give them pause for thought", said Nigel Farage, the UKIP leader.

"The markets have stalled, registering complete disapproval of the idea to introducing a Financial Transaction Tax to the Eurozone," he said.
 
"Irish Finance Minister Michael Noonan is desperate that any such tax hits London as he knows that if it only covers the Eurozone it will devastate financial services in the Republic. And now Merkel's own coalition partners in Germany, the Free Democrats, have said they will vote against such a plan if it doesn't include the whole EU.
 
"Given that there is no way that the Conservatives can possibly agree to a change that will hamstring the City, the country's main paymaster, this proposal is going nowhere.
 
"The European elite's authority is pouring into the sand. It has taken less than 24hrs for this idea to die.
 
"The only answer is to decouple the economies of Europe from the political imperative of ever closer union. It is the rigidity of the Euro that has exacerbated the problems for the Heavily Indebted European Nations (HIEN), and all they propose is more of the same."

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