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Schäuble slams Cameron for blocking EU deal

The Local · 27 Jan 2012, 12:22

Published: 27 Jan 2012 12:22 GMT+01:00

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Cameron has refused to take Britain into a proposed EU fiscal pact, which would see member states agreeing to common deficit reduction targets, forcing other states to draw up an agreement outside the Union's treaty structure.

Challenged at the World Economic Forum in Davos by Swedish Euro-MP Anna Maria Corazza Bildt over this approach, Schäuble said: "I would like to give you the mobile number of David Cameron."

"Of course, this is not a joke," he continued, as laughter erupted. "It would be much more better and better to understand for everyone outside of Europe, if we were to do what we will now have to do in our fiscal compact in the framework of European treaties.

"But that has to be done by unanimous decision, that is the basis of European treaties. Therefore, for the meantime, we go for 17 plus, I hope, nine. Everyone is invited to join," he said.

Following Cameron's refusal to take part, Germany and France pushed for the 17 nations of the eurozone single currency bloc to take part and they hope that nine more non-eurozone members will join them.

Cameron has been unrepentant, coming to Davos on Thursday to berate his EU allies for failing to promote growth and for seeking to introduce a financial transaction tax he regards as sheer "madness."

Story continues below…

European leaders will meet on Monday hoping to turn the page on the sovereign debt crisis that has undermined the euro and threatened the bloc's weakest members with financial collapse.


The Local (news@thelocal.de)

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Your comments about this article

12:44 January 27, 2012 by HelloOutThere
Schäuble is right, but you also have to take the British perspective into consideration. What else do they have beside their financial sector based in London - they are completely depended on it. Their traditional industry is slowly sold to foreign companies (e.g. Bentley to Volkswagen, Rollce Royce Motors and Mini to BMW, Jaguar to Tata Motors). Without their financial sector Britain would become a third world country.
13:14 January 27, 2012 by Anth2305
Take a wander around some of our major cities and one could be excused for thinking that we have already become a third world country.
13:23 January 27, 2012 by Englishted
Both comments are true however HelloOutThere how would Germany react to a export tax on manufactured goods ,or France with high tax on wine.

It was a deliberate attack on G.B. for no good reason unless it was done to make the P.M. react the way he did and us a veto so there is a scape goat for what will be the demise of the €uro, and still they don't learn another no hope country will be joining the E.U. soon to bleed it even drier.
13:58 January 27, 2012 by HelloOutThere
@ Englishted: That's exactly what I said - Charles de Gaulle used to say there are no friendships between countries, only interests. Of course Germany would be against an export tax on manufactured goods, but I dare to say that the participation of the financial sector in causing the financial crises is higher than the participation of exporting goods.

I'm pretty sure that the Euro will keep on existing - there might be some states like Greece which could leave the Eurozone, but nevertheless the Euro will still be there.

What most Britons don't seem to know is that during the last years the British Pound has lost up to 40% of its value against the Euro (and in my opinon the British Pound is still totally overrated).
14:19 January 27, 2012 by Anth2305
It's conveniently forgotten that most people in the UK believed that we were signing up to a powerful European trading alliance, aka the Common Market, not a dogmatic single political union, which increasingly encroaches on people's everyday lives (most accept the fact that there has to be harmonisation and standardisation with goods) and of course it's not helped by the fact that people don't understand that the, frequently in the headlines, ECHR is independent of the EU, which always manages, without fail, to receive the full blame for some of its more bizarre decisions, however at least the one saving grace for this country is that we do still have our fiscal independence.
15:57 January 27, 2012 by Englishted

Your comment about the financial sector's link to the crisis is correct ,so this is not a tax is it a fine ?.

Most Britons don't give a fig about the pound to euro exchange rate unless it for their holiday spending money,I know about as it will be detrimental to my pension,but on what basic do you say it is over rated against the €uro with the problems of the southern states not going away no matter how deep the leaders of the big two hide their heads in the sand.

If as you say there are countries that must leave where does this leave the treaties signed, sealed and ignored.

Strange that I agree with a Tory on anything but this time he is right we need growth to get out of this mess not more cuts that was the way of the thirties and look where that led.Spain has now half it's young people out of work this is a powder keg,I am sure we agree that this situation can led to a dangerous growth of extremism and nobody with a small amount of common sense would want that.
19:13 January 27, 2012 by HelloOutThere
@ Englishted:

Isn't Cameron doing the same in the UK at the moment - I mean saving a lot of money?

Best regards to you
19:35 January 27, 2012 by carlm
Schauble and all others of similar opinion are idiots. Kollectivism is what caused the problem, individualism - countries taking responsibility for their own problems is what will solve it. Good for Cameron, at least he has some sanity.
23:27 January 27, 2012 by Cambooya
I don't reside in Europe, so I have no feelings toward any country, but common sense would dictate that if you as a country belong to a union of any kind, then you follow the rules of the majority. If for instance should the British ever find themself in a Greek position, personally I wouldn't support them with a shilling, considering the stance they have taken.
14:13 January 28, 2012 by coffejohn
So we have come to this, Germany blaming the UK for not sacrificing it`s own interests to save Germany from doing the same in order to save the Euro.

Sorry to sound rather convoluted but thats English.

But another way Germany knows what it needs to do to save the Euro but will not do so as it will cost them too much. The other option is to get every other European state to play Merkel`s game but the UK will not as it will cost us too much, apart from the minor fact that it is not our problem.

So now rather than address the problem Germany is resorting to the blame game, a well known strategy designed to save face when a mistake has occurred.

Germany would be better served simply stating its case and standing on its principles. If this results in a Euro crises then so be it, better to lance this boil than let it fester.
15:17 January 28, 2012 by Michel_Berlin
When is England leaving the EU? Scotland can stay! :)
15:51 January 28, 2012 by raandy
Schäuble slams a lot of people, its who he is.

I have a lot of respect for the English and think their banking situation is different than the continent. Cameron is doing what he and many in and outside his party believe is best for England. I would,t count the English out they have survived bigger problems.
08:55 January 29, 2012 by McM
There is a Eurupean Union which share trade culture and some legal agreements and there is the Eurozone which share the common euro currency. Not all European Union members are members of the Eurozone, a position that has long been accepted. To try and hang the euro crisis on none Eurozone members as a distraction is a bit pathetic.
12:26 January 30, 2012 by bearded1
IF there had been a REFERENDUM in GERMANY so the people could say what they wanted to happen with the €uro in the begining there would still be the DEUTSCHE MARK but as with everything the government decided for them and now we are all in DEEP SH**
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