4 September 2011
The chair of the Liberal group in the European Parliament, Guy Verhofstadt, issues persistent pleas for political leadership. What he means by this is that leaders of governments ‘must have the courage to opt for a United States of Europe’, even if the vast majority of the population don’t want any such thing: it must be, in order to calm the financial markets. This is prettily put, but ugly all the same. It isn’t the European public who caused the crisis, but the speculators, so I don’t think it offers much evidence of leadership if you saddle the people with a neoliberal European economic governance that looks primarily to austerity and to cuts in public provision. In my view political leadership would involve chasing the speculators back down into the pit where they belong. That’s why we have this week brought forward a number of proposals for a European action plan against speculators. I am curious to know whether Verhofstadt has the courage to show leadership in this matter, but I fear the worst. His pals from the financial lobby wouldn’t like that one little bit.
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