Disengaging from the EU

Doubtless much to the scorn of the eurosceptic blogging community, John Redwood has posted an interesting proposal (worth reading in full) about disengaging from the EU.

The simplest way to fix the problems in the UK’s relationship with the EU would be to restore a modified UK veto over all matters. The new veto would allow us to say No to to any law or proposal emanting from Brussels, but would not allow us to stop them doing it for themselves without us. This would take much of the pressure out of the situation.

Then we could disengage gradually from EU measures we didn't like, and the EU could move forward to closer integration if it chose.

Of course this would require strategic direction, which our present excuse for a government doesn't have.

Meanwhile, Cyprus has suddenly popped up as the latest eurozone problem economy flagged as having problems. Where did that come from? Well, it seems their banks have - surprise, surprise - a lot of Greek debt. And wouldn't you know it, growth in this club med country has slumped to zero.

Amusingly, no sooner is Madame Lagarde installed at the IMF than it warns France it could be stripped of its high credit rating without ‘more efforts’ to tackle its debts. Sarko will be delighted.

But it seems a bit rich of the media to highlight the likelihood that Italy will show little or no growth this quarter. What was ours again? Oh yes, 0.2%. And our government is front-loading tax rises while back-loading spending cuts.

Augurs well, doesn't it. Good to know we have firm strategic direction.