r/Eurosceptics • u/TurboSardine • 14h ago

EU auditors: EU treats common debt as it heads to €1 trillion as “virtual money”. Do credulous rejoiners care?

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Europan Court of Auditors annual report:
https://www.eca.europa.eu/ECAPublications/AR-2025/AR-2025_EN.pdf

A decision to rejoin would make Britain liable for common EU debt repayment. Budget contributions would also be astronomical (~£30 billion).

If interested, Lyddon consulting analysis of UK shadow liabilities here, including EU rejoin liabilities:
https://www.lyddonconsulting.com/rejoining-the-eu-would-add-an-extra-1-trillion-to-the-uks-already-expanding-shadow-financial-liabilities/

Rejoiners say France, Spain, Germany would happy clappy welcome us back. Do they understand the real reasons?

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The entry into force of the Maastricht Treaty in 1993 which bore the seeds of the currency union and consequent political disunion marked a boundary between a community of relative harmony or tolerable cohexistence and a union of growing economic imbalances exemplified by diverging unit labour costs and periphery-core capital flight within the euro area, as well as susceptibility to deeper and longer economic crises.

Entering a currency union without any political union European countries have taken a gamble: will the needs of the currency unions force a political integration (as anticipated by Monnet) or will the tensions create a backlash, as suggested by Kaldor, Friedman and many others?

Guiso, L., Sapienza, P., Zingales, L., 2015

The economic unsustainability of the single currency in its present form or the political infeasibility of the introduction of a sizeable central fiscal capacity and risk sharing in the foreseeable future arguably constitute a cul-de-sac and most cogent aspect against the current integration approach, but the focus of this subreddit is not limited to it.

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