Thursday, February 14, 2013

EU Will Adopt Financial Transactions Tax

The story is here. My eyes are drawn to the discussion of what is called in Eurospeak "enhanced cooperation." 
What is enhanced cooperation?
Enhanced cooperation is when a group of at least 9 Member States decide to move ahead with an initiative proposed by the Commission, once it proves impossible to reach unanimous agreement on it within a reasonable period. It is only relevant to policy areas which require unanimity, and it aims to overcome the situation whereby certain Member States are prevented from advancing with a common approach due to the reluctance and non-agreement of others.
Only the European Union could come up with the phrase "enhanced cooperation" to cover a situation in which a failure of consensus leads to deadlock under rules requiring unanimous consent. In order to prevent this, 9 or more states are authorized to act in concert but in defiance of the veto blockers. As much as I deplore the Newspeak, I applaud the concept and hope that the US Senate will adopt its own form of enhanced cooperation, which with characteristic Yankee candor we will call the "f... you option."

1 comment:

Anonymous said...

I couldn't agree more.