The euro zone: Insider dealing

by / Thursday, 15 October 2015 / Published in Economy

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The reluctant European

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The euro zone


Euro outs fear that euro ins might do them down

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THERE IS ONE issue where Eurosceptics may have a more persuasive case for leaving the EU: the relationship between those inside and outside the euro zone. In November 2014 the EU’s voting rules changed so that the 19-strong euro zone constitutes a “qualified majority” that could in theory legislate for the entire EU. George Osborne, Britain’s chancellor, has said that his priority in the renegotiation is to ensure that euro members cannot gang up on non-members. As he put it in a speech to the Open Europe think-tank in January 2014, if the countries outside the euro feel their collective interests are not being protected, “then they will have to choose between joining the euro zone, which the UK will not do, or leaving the European Union”.
That sentiment is echoed by many Eurosceptics. Nigel Lawson, a former …
Source: The Economy