3 October 2011
Between the banking and sovereign debt crisis, Europe – or more particularly the EU – is facing what some commentators are suggesting is its greatest challenge to date. The failure to adequately manage the Greek debt crisis has become embarrassing and international partners are becoming irritated and disillusioned with the Union and its politicians.
However, more disconcerting are the rash and abrasive comments by senior EU figures who loudly trumpet the solution in terms of more German generosity, or the introduction of Eurobonds and greater integrated economic governance.
Yet nowhere in this debate can you find the opinion of the people who live in EU states. From the polling statistics, there is no enthusiasm amongst most European publics for more debt relief – that is of course if you are not Greek, Irish or Portuguese! The German public seems to be dead set against any further bailout of Greece, with their ‘solidarity’ all but exhausted. Yet, in terms of the political calculations in the EU – the political elite has all but ignored the view of their citizenry.
It used to be the case that those who cited a democratic deficit at the heart of the European project were vilified as petty, little nationalists or obscurants. Yet today, they are having the loudest laugh at the discomfort of the EU elite and Europhiles in general. Who can blame them?
Sadly, however, the crisis in Europe is not just about finances but goes much deeper; for many years now a simmering resentment at EU-decision-making which has been absent a credible public voice has been bubbling under the political surface. For some, it has been the fear that those inside the Eurozone are making decisions which are impacting on the vital interests of those outside. For others, it is clearly a concern that EU legislation and decision-making has been by-passing the legitimate seats of political power – namely national parliaments. Which parliaments have debated the introduction of Eurobonds or the need or the form of EU economic governance which will shift economic control from state to the Commission? Did any of us actually vote for this?
Although the clamour for the repatriation of powers from Brussels is only generally heard in the UK, the chances are that other states might follow suit. Quite simply, the time is right for a major re-think on the future purpose and structure of the EU. It is simply unacceptable that the wider EU public are not being involved in a debate with far-reaching consequences for all of us and which only seems to be open to ‘technocrats’ and bankers. In fact the public perception is that it was the expert bankers and politicians who created this mess in the first place!
While all eyes are on the perils and pitfalls of debt and deficit, keep an eye open for the green shoots of real public dissent on EU policy direction. The Greeks are not the only country being dictated to by the European Central Bank (ECB) and slowly but surely, we should expect more explicit resistance from financial saints and sinners alike. Like it or not, the EU is unravelling but is that necessarily a bad thing? For those who believe in democracy, this process must be seen as an opportunity and not a threat.