But, from London’s point of view, the enlargement of the EU to always new members slowed down the push of the historical core of the European process to an ever greater integration. It was the British Prime Minister Cameron, in 2011, who blocked the extension to the whole EU, with a modification of the treaties, of the monitoring and harmonization rules of state budgets (the “fiscal compact”) promoted by France and Germany and, to the end, adopted only for the eurozone. How the British prevented the creation of a common tax, the “Tobin Tax”, on stock exchange transactions.In one case and another, Cameron did not contest the austerity of the “fiscal compact”, which London had already adopted on his own, or the opportunity to tax the stock exchange business, as the British have been doing for some time, but he defended the spaces of national sovereignty. The claim of a non-national, but European sovereignty is the axis of the turning point initiated by Merkel and Macron. Starting with the new and enhanced use of the Community budget (matter of the whole EU and not only of the eurozone), which becomes the lever for an intervention never seen before on the whole European economy, on the basis of financial autonomy Brussels. Initially made of debts, but, in perspective, according to the vision illustrated by Ursula von der Leyen, of own financial resources.
In other words, taxes: on multinationals, on large companies, land that London, even more than others, has always considered exclusively national. And with an EU that rediscovers a leading vocation. Green light to state aid to businesses for 2 trillion euros. Distrust of non-European investments. Projects for the creation of “industrial champions” or alliances between European companies to contrast the global American or Chinese dominance. A voice also on wages, with the hypothesis of a framework agreement on the minimum wage. Brexit or not, conservative England would have had a hard time recognizing itself in this Europe. And, perhaps, Labor England would have stung too.