With Italian bond yields reaching +7%, which resulted in other Eurozone countries facing a bailout, the Deputy Prime Minister is scheduled to make a speech to the European Parliament. Nick Clegg will advocate a reform agenda to bring jobs, growth and competitiveness to the European economy.
Gordon Brown spent his entire short premiership arguing just that. Nothing happened.
Brussels is very orthodox and embodied in protectionists; not just economic. Transparency has been lacking within the Commission and the inability to enforce treaties have lead to a crisis (Maastricht Treaty legally restricted fiscal deficits to -3%, with fines. Nobody was ever punished).
Nick is trying to save the Union he adores, and proudly worked for. Sadly, it is a lost cause. Italian bailout will be near a trillion euro’s and Europe cannot afford that figure. Liberal Democrats should not be publicly defending a League of Nations-esquse organisation that is rapidly falling.