EU Referendum


Eurocrash: Merkel says nein, nein, nein


05/06/2012



Merkel 232-sjq.jpg

A cool white wine, an Alsace steak, and a good argument on the banks of the Rhine is called-for, as Ambrose confronts the Hun - telling us that Frau Merkel hass agreed to nussink … nussink, I tell you.

Indeed, in substantive terms, nothing is different from what it was yesterday, except that diverse officials have stacked up an awful lot of air miles. But, in a pre-treaty dance of the seventy-veils, you don't expect anything substantive to happen. Each of the main players is staking their positions, marking their territories and setting up their tents.

This, says Ambrose, has "no relevance to today's crisis", and he's right … up to a point. The prospect of a near-term "solution" is bound to cast a shadow over proceedings, and given the slender grasp the financial services fraternity has of EU politics, the wish could so easily become the promise.

If, of course, the "colleagues" are playing an elaborate game of bluff, and there is going to be nothing on the table at the end of this month in Brussels, then a lot of people are going to have egg on their faces. And the howls of anguish will be heard across the Channel.

But there is something afoot. Despite Hollande being hors de combat due to a messy election, he is to meet Monti in Rome on 14 June. Eight days later, in the same city, there will be a four-way summit between France, Germany, Italy and Spain – this on 22 June.

Less than a week after that, we will see the European Council meet in Brussels, and a few more veils will drop. But, as always, we will be allowed to see only what they want us to see. Kremlin watching was easier. But there is a game being played out - that's what's changed, Ambrose.

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