I've noted before that many of the founders of the European Union were steeped in Catholic social thought (even borrowing the concept of subsidiarity from CST and making it into a constitutional norm in the EU), and the Vatican has long been an advocate of European integration. But the lack of an intelligible and enforceable principle of subsidiarity in the EU has resulted in ever-increasing bureaucratic centralization in Brussels and Strasbourg over the past several years, a trend that Britain has now called into question with Prime Minister David Cameron's veto of a proposed EU treaty. While Cameron probably hasn't discovered a newfound enthusiasm for Pius XI and was acting to protect British economic interests, Niall Ferguson argues here that Cameron made the right decision:
So it is not that British policy has dramatically changed. The real historical turn is the one now being taken by the 17 euro zone members and the six non-euro states that have chosen to follow them. For there should be no doubt in anyone’s mind that what they have just agreed to do is to create a federal fiscal union. Moreover, it is a fundamentally flawed one. The only surprising thing is that so few other non-euro countries—Sweden, maybe the Czechs and Hungarians—have joined Britain in expressing reservations. I quite see why countries with the euro are prepared to give up their fiscal independence to avert a currency collapse. But what on earth is in this for the others?
....
“Eurozone Deal Leaves Britain Isolated” trumpets the Financial Times, for many years an ardent proponent of monetary union. But if David Cameron can succeed in isolating Britain from the disaster that is unfolding on the continent, he deserves only our praise. For once the old joke—“Fog in the Channel: Continent Cut Off”—seems applicable. There is now a Depression on the other side of the channel, and it is indeed the continent that is cutting itself off—from sane economic policies.


