It’s the make-or-break EU summit, going on now within the cavernous Justus Lipsius European Council building in the Brussels European Quarter. Will what issues from this conference be enough to save the euro?
The answer to that remains up in the air, as the summit continues into the weekend. What we do already know, however, is that an important split has occurred within the EU, resulting from the failure of German Chancellor Merkel and French President Sarkozy to have accepted by all 27 member-states their proposals for greater national budget control and coordination. Now the action on that front has shifted to the group of 17 member-states who actually use the euro.
The excellent “Charlemagne” commentator from the Economist has already termed this development Europe’s great divorce, in an article (in English, of course) featuring at its head a picture of the defiant-looking British PM David Cameron pointing an aggressive finger towards the camera. And indeed, this one and many other press reports from the summit would have their readers believe that the UK is isolated in its stand of resistance against those “Merkozy” proposals for greater EU power over national budgets. That is certainly also the message from the authoritative German newspaper Süddeutsche Zeitung, where an analytical piece from Michael König is rather dramatically entitled Bulldog Cameron bites the British into isolation.
But such observers should be careful about rushing into any over-hasty conclusions. They should remember that a number of other member-states share an attitude towards the EU rather closer to that of the UK than Germany or France. The Czech Republic, for instance: