The Rotten Heart of Europe: the Dirty Wa: Dirty War for Europe's Money Hardcover – 11 Sep 1995
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Aiming to destroy illusions about what lies at the heart of Europe, this book provides answers to questions about European monetary union. The author, who is head of the Commission unit responsible for monitoring and servicing the ERM, offers a portrait of the motives of many Euro-propagandists.The book addresses topics such as the real motives underlying the Franco-German determination to suck European countries into the monetary union, why the French and Germans are applying intense pressure to recreate an exchange-rate agreement despite the political conflict and economic disarray that its earlier incarnation caused, and how so determined a leader as Margaret Thatcher could find herself forced into submission on the ERM.
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Connolly also reveals the plotting at the very top of the Tory party which helped get rid of Margaret Thatcher, and a shameful tale it is. Undoubtedly we still have senior politicians (in any party) whose adherence to the aim of establishing a wholly undemocratic government of Europe, answerable to no-one, lurks carefully concealed behind in their public utterances, and we should be wary.
As well as documenting the damage done by the ERM to the European economies such as the UK, Ireland, France and Denmark, the author analyses the motivations of the politicians and central bankers involved in creating the ERM disaster. The reader will be shocked at the politicians’ lack of concern for the masses, who had to suffer the economic consequences of the ERM’s failure.
Despite the failure of the ERM the politicians subsequently went ahead with Economic and Monetary Union (EMU) anyway, with predictably dreadful results. If you want to understand the background to the current euro crisis and remind yourself of a critical period of economic history that our politicians and media are determined to forget, then read this book. Thank you so much Brian Connolly for having the courage to speak up and write this outstanding book.
The book is well written and extremely interesting as an insight into how the EU works political and what those political and economic objectives really are. The technical financial stuff can be confusing but a full understanding of it is not essential.
Some of the information related is truly astounding, and reveals just how cynical the EU project is.
If you want to properly informed about the EU before we get our in/out vote, read this book.
I do have some advice for the reader though. 1. I think the preface to the 2012 edition would sit better as an epilogue, accordingly I recommend that you read the original introduction first, then the book, then the new introduction afterwards. Otherwise I feel that the 2012 intro could be a bit off-putting. It comes on pretty strong with conclusions which you really need to read the book first to understand. 2. Don't read the footnotes on your first reading. Although they are very good, unless one is as brainy as Mr Connolly undoubtedly is, you will find it very hard to take any digression from the narrative, as it's pretty complex as it is without the footnotes. I've read it once. I'm going to leave it til I go on holiday and read it again complete with footnotes.
If you're interested in global economics, monetary policy and European history, democracy, national and international fiscal and monetary policy this is the book for you. I write this in July 2016. One of Mr Connolly's predictions as a consequence of monetary union which hasn't actually happened to date is a possible revolution in France. Give it a year.