Nein danke, Merkel. Non merci, Sarkozy

No, Nein, Non, Nyet – There’s something universally majestic about the word no, something substantive and defining which creates a real sense of meaning and is rather refreshing to hear amongst the vague and ubiquitous nature of modern political ‘leadership’. Cameron has enjoyed a poll boost since his veto at the fateful pre-Christmas EU summit to save the world and rightly so.

He drew a line in the sand, which he announced before the summit that he would not cross, a line which the Franco-led plan forced upon him and a line which he proudly refused to cross. And that is what the Prime Minister deserves credit for, for using that beautiful two letter word – No.

Cue the hyperbolic cries of the Europhiles! Britain was isolated, Britain’s interests were damaged, Britain’s economy would suffer, and Britain is now left alone in a two-speed Europe. Well to quote that succinct little word: “No”. No, Britain is not isolated, our interests are far from damaged, our economy is not going to adversely suffer as result and nor are we alone.
Most people already know, aside for many Eurocrats and Eurozone leaders apparently, the Treaty proposal does nothing to address the fundamental causes or alleviate and solve the current crisis.

Claims of Britain being left isolated in a minority of one aren’t true; indeed the Czechs, Hungarians and Poles have already voiced strong concerns over tax harmonisation. The Treaty would also require an Irish referendum which is almost certainly going to be rejected. The S.S. Eurozone is holed beneath the water line and its dead set on a course further out to sea, Britain is merely the first country to get in the lifeboat. We’re about as isolated as the people who didn’t want to board the Titanic or the Hindenburg.

Cameron protected Britain’s interests by not signing the treaty; in so doing he refused the damaging financial transaction tax which would have left the UK financial service industry (the employer of over 2 million people) crippled and uncompetitive, saddled with a bill for a currency which isn’t even our own! If 26 other people had fillet mignon in a restaurant and you had soup you’d feel a bit aggrieved splitting the bill equally amongst 27.

The financial transaction tax represents exactly that. It was included only to damage the UK financial sector to boost French President Nicolas Sarkozy’s chances of re-election. In France, bashing the bankers is popular, bashing the English is popular and bashing English bankers is most popular of all. Europe is our most essential trading partner but the day to day running of business carries on. Normal businesses that trade with the continent do so because of economics and not politics and contrary to the assertion of Madame Pompadour-in-chief Nick Clegg, millions of UK jobs are not at risk.

A European who intended to buy a British product or service before the summit will still buy that product or service after the summit, regardless of the outcome. Indeed in a survey of members of the Institute of Directors, the body that represents the UK’s leading businessmen, 77% agreed with Cameron’s veto.

The EU summit represents the sad inevitability of the impending Eurozone Crisis. Lurching from one crisis summit to the next the Eurozone has destroyed faith and confidence in its own bond markets and currency.

Rather than address the real issue that the Eurozone represents a flawed attempt to harmonize divergent economies, they have became fixated on controlling fiscal deficits and imposing crippling and self-defeating austerity on indebted peripheral nations trapping them in a spiral of recession. The summit only reinforced the inevitable fate of the Euro, not because of Cameron’s “no” but because of the failure of Europe to see itself as part of the problem.
Cameron’s EU performance showcased real leadership and means 2011 ended on a high for the Conservatives. Great leaders know when to make a stand on an issue. Cameron said only once what Lady Thatcher famously said three times: “No”.

One small two letter word and what an impact it has made to his fortunes; his party has united behind him and the risk of a schism over Europe has faded, the Tories have bounced in the polls and Cameron’s personal approval rating lead over Ed Miliband is wider than ever.
So despite the cuts, 2011 ends as the Conservatives’ year. Evidently sometimes the best thing to say is no.