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GegenStandpunkt English (February 14, 2014)

Von • Feb 20th, 2014 • Kategorie: International

GegenStandpunkt English (February 14, 2014):

 

Crisis and competition in Europe:

Great Britain — the nation fights for its credit, and for benefits from its EU membership

 

[Translated from Gegenstandpunkt: Politische Vierteljahreszeitschrift 2-13, Gegenstandpunkt Verlag, Munich]

 

“This is the most serious financial crisis that [Great Britain] has ever seen” (Sir Mervyn King, 6 Oct 2012), so the governor of the Bank of England has been saying since the crisis broke out nearly six years ago. The Prime Minister explains the reason for the crisis to the common folks: it started across the Atlantic with the property crash but “we were hit particularly hard by the banking crisis because of the significant size of our financial sector” (David Cameron, House of Commons, 13 May 2011). The nation whose capital city accommodates the greatest concentration of international banks and other financial speculators — this nation is a victim infected by the American financial markets? The matter is slightly different from what the national view would pretend. Along with the USA, Britain is the prominent cause of the global financial crisis. No wonder the country is also among those most affected by the crisis — and therefore one of the principal actors in the crisis competition of states.

 

The government programme to safeguard the British financial market, which lives on marketing assets and debts denominated in euros and dollars, and to rescue the national credit, inevitably leads to an escalation of the conflicts between the UK as an EU member, and the states of the eurozone. And the political champions of the UK as a leading, sovereign European power increasingly confront one another with the fundamental question of whether the national benefit of EU membership outweighs the adverse effects brought about by the leading euro powers on their British partner that remains outside the European common currency. (…)

 

 

– London’s contribution as international financial centre to the worldwide accumulation of fictitious capital

– The financial centre of London as activist and victim of global over-accumulation, and its rescue at the hands of the state and its American and European competitors and partners

– The dual frontline of national crisis management: Securing European credit, and revitalising growth in the domestic business site

– The escalating row between the eurozone and the UK about the political reform of the EU, and who defines it

– The escalating domestic political strife between government and anti-Europeans

 

http://www.gegenstandpunkt.com/english/UK-and-EU.html

 

cf:

 

Krise und Konkurrenz in Europa

Großbritannien – Vom Kampf der Nation um ihren Kredit und um den Nutzen ihrer Mitgliedschaft in der EU

 

http://www.gegenstandpunkt.com/gs/13/2/inh132.htm

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