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One of the major legacies of the euro area debt crisis has been tougher oversight of how well, or badly, countries respect EU fiscal rules.
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The British establishment is set to receive another beating today when the long-awaited Chilcot Report into the Iraq war is released.In it, the failings that led up to the war in Iraq – and with it the deaths of 179 British soldiers and an uncountable number of Iraqis – will be laid bare.Tony Blair, Britain’s last Europhile leader, broke with Berlin and Paris, sided with the US and ended up on the wrong side of history. Until last month, the Iraq war loomed over Britain as the biggest foreign policy failure in a generation. Now, thanks to Brexit, at least it has competition.
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