Why is Britain isolated from conflict
The EU Commission threatens the British government, which has broken out of the euro bailout, with unusually clear words: "If the maneuver served to spare bankers and financial institutions in the (London) City from financial regulation: That will not happen," said EU currency commissioner Olli Rehn in Brussels.
Cameron had isolated himself at the EU summit in Brussels late last week because he was the only one of the "bosses" who definitely refused to go along with the new European pact for more budgetary discipline. The Prime Minister is said to have demanded, among other things, that the financial markets in the EU could only be regulated unanimously by all member states as a condition for British participation. So far, the rule of two-thirds majority has applied to decisions on new laws.
Rehn recalled that Great Britain also contributed to the largest reform of the Euro Stability Pact to date. This tightening will officially take effect this Tuesday. Deficit sinners can be punished faster and harder than before with the six new laws of the so-called six packs. "We want a strong and constructive Britain. And we want Britain to be in the center of Europe, not on the fringes," said Rehn. The British deficit is being monitored in the same way as that of other countries, even if London has not yet introduced the euro.
Sarkozy: "There are now two Europes"
French President Nicolas Sarkozy also expressed harsh criticism of the departure of the British. He understands the no to the EU treaty amendment as a clear division of Europe. "There are now clearly two Europe: one that wants above all solidarity among its members and regulation. And the other that only clings to the logic of the common market," Sarkozy said in an interview with the newspaper Le Monde.
He and Chancellor Angela Merkel (CDU) tried in vain to get the British on board at the EU summit in Brussels. The repeated refusal to join the currency union had already contributed to the isolation of the British government in the past. The demands made by Prime Minister David Cameron regarding the treaty amendment have now been thoroughly unacceptable.
The British Prime Minister David Cameron had resisted the EU treaty amendment, which was being pushed forward by Germany and France, with which more budget discipline in the EU was to be enshrined. In return, Cameron tried to gain advantages for the financial center of London, which Sarkozy and Merkel refused.
The 17 euro countries then forged a budget pact alone at the intergovernmental level. However, all non-euro countries except Great Britain signaled that they could participate in the new pact after consultation with their national parliaments.
Sarkozy refused to allow Great Britain to leave the EU. "We need Great Britain," the President assured, recalling the Franco-British cooperation on the military operation in Libya.
French financial regulators outraged British Conservatives
Sarkozy is not alone with his opinion in France: The head of the French financial regulator AMF was also outraged by the British conservatives: "For a long time it was said that the French right-wing were the stupidest in the world," Jean-Pierre Jouyet told France Inter. "I think the English right wing has shown that they can be the dumbest in the world."
Jouyet accused Prime Minister David Cameron's government of putting the interests of the financial industry before the interests of the country. Such an approach is rare in the history of the European Union.
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