The Euro Crisis

The European Union has tried to solve the crisis that is affecting confidence in the Euro. It seems that the wisdom of the leading Euro nations has brought together a series of proposals which may or may not involve changing the treaties governing the European Union and which have the approval of all of the 17 nations that use the Euro as their currency and some of the nations that do not use it. The United Kingdom and Hungary have rejected treaty changes and Sweden with the Czech Republic want to consult with their Parliaments. It is difficult to summarise exactly what has been agreed because as usual the EU’s policy is shrouded in loose and imprecise language which might serve to assuage local Parliaments but does nothing to explain to all of us exactly what will happen. Politicians like loose language and develop its use over their lifetimes. Generally speaking, the more successful the politician the more ambiguous the statements that fall from his or her lips. Continue reading