Nick Hayns writes for the Yorkshire Post
Thus far, we have witnessed the standard political trick of the proverbial can being kicked down the road. With the euro crisis finally limping to what must be its denouement and the 17 countries that comprise the eurozone now potentially forming their own fiscal union – in essence a brand new country – the end of that road has been reached.
As they say though, necessity is the mother of all invention and opportunities are often borne of crisis. The potential development of what we could deem a “multi-speed” Europe could be advantageous to Britain’s interests, in the sense that the EU would no longer feel the need to force all member countries to adopt EU-wide legislation and the kind of regulation that has choked off economic growth for years, and instead simply focus on the things that need to be done.
However even the most casual of EU observers will have noticed over the years the institution’s tendency for overbearing mission creep, so there are a number of pre-conditions prior to any potential new treaty being signed that the UK, in the guise of David Cameron, must fight tooth and nail for in the coming days.
The first of these involves protecting our financial services sector. Whisper it, but those awful bankers we hear so much about actually contribute a huge proportion of our GDP and our tax receipts. Many a year has passed in which continental Europe has looked upon the City of London with envy and the most recent attempted assault on it has been the proposal of a financial transactions tax.
Read the rest of the article on the Yorkshire Post website.