Strolling along the road to serfdom

As an ardent critic of the current coalition, beginning an article with a quote from Nick Clegg is certainly unusual. Nonetheless, the terrifying truth of Clegg’s words has haunted me since his keynote speech at the Lib Dem conference last year.

“In the coming years, some countries will get their own house in order. But some will not. Those that do will continue to write their own budgets, set their own priorities and shape their own futures. But those that do not will find their right to self-determination withdrawn by the markets.”

Do not mistake this warning for desperate sensationalism. One only needs to fly a few hours south to a deceivingly frenzied Madrid, Lisbon or Athens to understand Clegg’s warning.

Gold crazed vultures patrol the streets ready to turn memories into a temporary means of survival. Radios mumble bad news between interruptions of misplaced Euro pop. By night, dissenters face waves of unjustified brutality from those who are meant to protect them. This is Spain, Greece and Portugal in 2013.

Lamentably, we are all well versed in the economic problems in many Eurozone countries and one may be forgiven for questioning our current relationship with the European Union. Nevertheless, it is important not to be distracted by the apparently perpetual gloom as change is in sight.

In the years leading up to the economic crisis, Germany introduced vast labour reforms that helped sustain growth and reduce youth unemployment throughout the crisis. Whereas Germans doubted their future economic progress at the start of the millennium, they maintain positive average growth thanks to Hartz’s reforms. Many of these reforms have been applied in the PIGS nations but, as with Germany, the structural reforms take time to produce results. When growth returns to the Eurozone, these labour reforms will drive vast improvements and Britain, once again, will be part of a thriving economic community.

However, David Cameron’s tenure reached a new low this week with his proposal for a referendum on the European Union. Notwithstanding the ignorance of rejecting membership to the richest economic community on the planet, Britain’s potential departure is likely to coincide with reform driven growth in the Eurozone. Our unfounded post-colonial arrogance is leading us down a path of unintentional self harm and many Britons still seem happy to support Conservative Party made up of confused, old men disguising their xenophobia with anti-Europe rhetoric.

“Getting our house in order”, as demanded by Nick Clegg, should not be interpreted as a call for isolationism. Britain as a nation-state is dead. It is time for use to accept that we are European and respect our neighbours’ idiosyncrasies.