21 June 2011
Bernard Connolly used to be a civil servant of the European Commission. His particular remit was European monetary union.
In September 1995, much against the wishes of his superiors, he published a book entitled ‘The Rotten Heart of Europe’, outlining the political machinations of those responsible for pushing the notion of a single European currency as a key element of ever closer political union. Connolly was acidic in his printed comments and clearly annoyed the political elites in Europe, so much so that he eventually had to leave the European Commission. His only crime seemed to be a willingness to tell the truth as he saw it.
This truth – as he saw it – suggested that the move towards a common currency would lead to disaster, particularly if the criteria for entry to this monetary scheme emphasised politics over economics. When disaster strikes, he observed, the weak European Union periphery would suffer first.
As the eurozone collapses in front of us, with a Greek default acting as a catalyst and Ireland, Portugal and Spain in no better state, Bernard Connolly must be savouring the moment – if not for the sight of the economic crisis in Europe then for the accuracy of his hypothesis over those of the Commission and Europe’s political elite. He told them so.
If nothing else, the Connolly moment tells us that the political elite in Europe is politically and intellectually bankrupt. They are so far out of touch with their publics that what they talk of – with much hubris – as leadership, is actually ‘emperors with no clothes’. There is no clear European identity upon which to build a European political identity. Maybe the nation state is challenged to solve the world’s problems but so too is the notion that the European Union can b e a major contributing factor. Where do we go from here?