Who are EU?

News just in (4 am, 9 December) and diplomatic genius Cameron has managed to build a front of resistance to Sarkozi and Merkel's new European Fiscal Union - of two. (And the latest is that Hungary, our 'partner' in this farce, is reconsidering its position.) There are significant moves going on among the European dominant classes and we will need to return to that topic when the dust settles.

For now, Cameron will be returning from Europe in triumph. Splendid isolation! Hurrah!

From the left's point of view some clear thinking is required. Cameron's main sticking point was a refusal to support a Europe wide financial transaction tax. 'That will effect the City' he squealed. Too bloody right. The City, dear David, is up to its neck in the creation and maintenance of at least 60% of the loans and deals that have built up the debts in large parts of Europe. The City 'creates' a significant part of the 'exports' that British politicians trill about when they talk about Britain's 'export market' to Europe. And we all thought it was whiskey and and 'I'm a Celebrity ...' that we were selling 'em!

The EU Fiscal Union is an undemocratic straight jacket, the British press will thunder. So what has Britain got? A government austerity programme that nobody voted for and 14 million at the last election voted against. Nothing. I repeat, nothing that the old Etonian millionaires say about the latest moves in the EU, and their defense of British sovereignty, is worth the paper it is printed on. It is a toxic mountain of the purest hypocrisy.

It would please Cameron no-end if the British people's growing opposition to austerity and the banks was turned into a lot of noise about the nasty EU. As the left, would we, the movement against cuts and for a people's economy, have signed up in Brussels? No. We would (hopefully) been part of the focus for those millions left entirely unrepresented by the whole charade. Nevertheless, we need to be crystal clear. The main barrier to progress in Britain; the main institutions that block the way to a different sort of British society, are the City and its wretched patsies across the whole political class.