James Ashton: Time for us to team up with the Germans after their fallout with France?
Europe’s grand alliance of France and Germany is crumbling like a fresh chèvre. The leaked memo from Angela Merkel’s coalition partners this week only confirmed what everyone else suspects about the French economy under the stewardship of François Hollande.
“French industry is increasingly losing its competitiveness,” it said. “The relocation of companies abroad continues. Profitability is meagre.”
After her close bond with Nicolas Sarkozy, Ms Merkel’s relationship with Mr Hollande was always going to be strained. But what price the eurozone if its two biggest proponents can’t get on over key issues such as austerity and how to tackle falling growth?
Mr Hollande’s plan to cut capital gains taxes smacks of desperation. I doubt he will win back the entrepreneurs and wealthy workers who have already booked their Eurostar tickets to London. Business leaders reckon France’s economy is in for a torrid decade.
It also begs the question what role Britain could play if the old order is changing. Fresh from the incursions made into Tory territory by the UK Independence Party, how David Cameron frames his in-out referendum on Britain’s future in Europe will be focusing the mind.
But what about a new Europe built around a UK-German axis, where the single currency is optional but measures to foster economic growth are not?
In lieu of all those trade missions to China and Brazil stirring export orders, better to be inside the tent with our existing major trading partners. That way the Government might not have to resort to rearguard actions as it is by attempting to fight off the financial transactions tax that those inside the eurozone are gradually realising is bad for business.
- 1 Paul Scholes: Manchester City were so good against Liverpool I felt like turning the television off
- 2 Notting Hill Carnival: Woman shares selfie after being ‘punched in face for telling man to stop groping her’
- 3 Pamela Anderson rejects ice bucket challenge because of ALS experiments on animals: 'Mice had holes drilled into their skulls'
- 4 Homer Simpson takes the ALS ice bucket challenge because of course he does
- 5 Hello Kitty is not a cat after all
America’s new apartheid: Prosperous white districts are choosing to break away from black cities and go it alone
Arizona shooting: Gun instructor accidentally killed by nine-year-old girl with Uzi
YouTube video posted by Isis militants shows 'execution of 250 Syrian soldiers'
Notting Hill Carnival: Woman shares selfie after being ‘punched in face for telling man to stop groping her’
Hello Kitty is not a cat after all
Exclusive: We share blame for creating 'jihad generation', says Muslim strategist
Robin Williams Emmys tribute led by Billy Crystal criticised for including 'racist' joke about Muslim woman
The Rotherham child abuse scandal is a tale of apologists, misogyny and double standards
Scottish independence TV debate: Pumped-up Alex Salmond bounces back in bruising second round against Alistair Darling
Do you realise just how foolish the UK looks?
Ukip Douglas Carswell defection: Tory MP jumps ship to join Nigel Farage
- < Previous
- Next >
iJobs Money & Business
Highly Competitive Salary: Austen Lloyd: CITY - An excellent new instruction w...
£500 per day: Harrington Starr: SQL Server Developer SQL, PHP, C#, Real Time,...
£600 per day: Harrington Starr: C#.NET Developer C#, Win Forms, WPF, WCF, MVVM...