With London’s investment center so heavily reliant on economic ties to Eastern Europe and Russia in particular, any EU sanctions targeting Russia are likely to do major damage to the British economy.
British officials are all for it anyhow, with Foreign Secretary William Hague insisting the damage done to Britain economically was a “price worth paying” so long as it also hurt Russia in the process.
Not everyone in the European Union feels that way, however, as Austria is leading a number of nations within the EU who are skeptical of any additional sanctions being more harmful to their economies than to Russia itself.
Hague suggested the British government is fine with sabotaging its own economy for a chance to stick it to Russia, and Germany’s Merkel government has suggested the same thing, but how willing they will be once the political consequences of such damage becomes apparent remains to be seen. Even if they are content to weather than storm, EU sanctions must be unanimous, and eastern nations are likely to start vetoing the measures before they get too far out of hand.
Hague and other Western officials no doubt realize that, and are being especially bellicose about a sanctions war knowing that the eastern nations aren’t going to let them escalate indefinitely, sp British and German rhetoric won’t have to be put to the test as policy anyhow.
WWI began with the same kind of brinkmanship from officials with over inflated egos trying to prove their manhood by playing with the lives of millions.
Nothing will damage Hague and friends. Damage will be done to the average Brit, who have no say in the matter and that's what we call democracy, which in reality is rule by the few.
Nice of some rich SOB to just decide that sanctions will have to hurt…of course it aint going to hurt him and the other rich-enough servants of the banks
The sun has long set on the murderous British Empire. Yet, the poodle still raises it head from its kennel and yelps and yelps and yelps. Have you not done enough destruction in the days you a were a bulldog, poodle?
I like your description Amanda, Hague is an egotistical far right politition, mad at the world for missing his chance to become prime Minister, and this is his last chance to make his mark in the world. The British empire was finished after ww1, except Whitehall won't except it, and ingratiates itself to Washington to disguise the fact.
Now we have another arrogant set of egoists in Washington, ready to set the world alight by dictating to other countrys what they can and cannot do. Some one has to confront these people and say enough is enough, we the electorate, have long ago had our right to determine political change taken from us, as its a case of tweedle dee and tweedle dum politics.
Wasington does not have the power anymore, hence the bullying arrogant attitude of its minions, listen to this as an example.
Another good reason for Scotland to become independent and separate itself from America's poodle dog.
So the little worm Hague is prepared to inflict yet more damage on the British taxpayer to please his international oligarch masters, no surprises there.
I wonder how the average bloke feels about Mr. Hague's declaration? After scanning several of the UK papers I could find no comments from those who rising prices might hurt the most. Oh, right…I forgot the UK government has the same relationship with the people they represent as the USG does to the American people…they don't care what the average people think. Suck it up, you wankers…it's all for the greater glory of…the Oligarchs.
Of course those in power will accept economic damage. Not only are most of them rich, they will receive their tax-payer funded salaries regardless of how bad the economy gets, the people be damned.
He can agitate his small arms in every direction, Russia doesn't give a dam about the UK or France, two greatest has-been the world has ever seen..
He does look like an average European psychopath, as well.
The rich mp are willing to accept the economic backlash, seeing how it wont affect them much anyhow. I'm wondering if they consulted with the people they represent, who will bear the consequences of such a move. Ultimately government will deal with the loss of revenue through more austerity, which will only hurt those who are already hurting..not as honorable as they're trying to make the move out to be….