Saturday 17th May 2008
moneyweek.com
MoneyWeek logo

The most important financial stories, and how to profit from them

Skip to navigationSkip navigation
Tony Blair, EU presidency

President of the EU: is Blair the man for the job?

15.02.2008

This genius investor does dizzying levels of research to uncover...Half Price Shares!

The idea of Tony Blair becoming the European Union’s first president has been “dangled” in front of Europe’s leaders by France’s Nicolas Sarkozy, says Denis MacShane in the FT.

The new 30-month post, created by Blair himself in his final act as Prime Minister when he signed up to a “remodelled” European Constitution, replaces the rotating six-month presidency. The job is to chair the European Council, the assembly that decides whether European Commission proposals should become EU law. The new presidency will be similar to the current one, except it won’t lose the plot “in a suitcase somewhere between Ljubljana and Paris”, says Peter Preston in The Guardian

The real question is whether Blair is the right person. The post demands a proven administrator, with conciliation skills, stamina and “extra helpings of humility”. Does this sound like Tony Blair? No. What’s needed is an “off-the-peg Luxembourger nobody knows”.

As yet, there is no job description, which is why Blair hasn’t yet thrown his hat into the ring, says Philip Webster in The Times. If the role mainly involves chairing meetings and “shuttling between EU capitals to expedite lowest-common-denominator compromises“, he won’t, says Martin Kettle in The Guardian. But if it came with the authority to set the agenda on issues, such as European defence and trade, he would be “seriously tempted“. 

It will be a while before that question is answered. Most governments are still concerned with getting the treaty approved rather than implemented, and even if Blair commits himself, he has competition. Former Austrian chancellor Wolfgang Schüssel and Jean-Claude Juncker, the current Luxembourg prime minister, are possible contenders, and while neither has Blair’s public profile, to many Europeans that will be an advantage.



FREE! For all our latest advice on making profitable investments, claim your 3-week FREE trial of the MoneyWeek website and magazine now.
FREE! MoneyWeek’s daily investment email. A quick, useful and entertaining round-up of the latest investment news, sent to your inbox first thing every morning.To sign up to our “Money Morning” email for FREE, just click here.
Free! Our daily email
Free Daily Email sign up
Money Morning is the FREE daily email from MoneyWeek – a punchy round-up of the latest investment news and profit opportunities. DON’T MISS IT!
New to MoneyWeek? Editor Merryn Somerset Webb explains what we do

 

FTSE 100 - 17 May 08