Posted Jun 28, 2014 by Martin Armstrong
It is increasingly becoming clear that the message to Britain is either join the euro or get out. Cameron took a stand that the EU had to reform after the rising tide in elections are clearly against the federalization of Europe that was witnessed in the UK and France. The agenda is to federalize Europe and the battle cry is now to save the Euro, everyone needs to yield sovereignty to Brussels. This real problem is that those demanding this result are all in Brussels and if the Euro goes, there goes their jobs. Hence, there is no unbiased position here and the refusal to reform at all is a serious crisis.
It is appearing more and more that Britain is going to be pushed to the limit. If they look at the laws coming down from Brussels, they will wipe out the financial sector in Britain. On the other hands, many have used Britain as the gateway into the EU for it has the lowest taxes to bring goods into the trading bloc. Talking to those in the city who are in the financial industry, they fear the EU transaction tax and the restrictions on short-selling. If you talk in the West End, those importing goods into the EU using Britain fear they will be forced to move back into Europe. Meanwhile, the international rich would probably leave if Britain went into the Euro and surrendered its sovereignty to Brussels. Then there is the Scottish vote to break away from the UK come September. The slap in the face to Cameron by the EU stands to increase the pro-separatist vote like never before.
It was made very clear – the EU basically is taking the position join or get out and they had enough of the British pound. It is time to surrender to the Euro of leave. Europe will not save the Euro nor will they reform. This is all about saving Brussels – not Europe.