In honor of the amazing, yet common sense vote by the citizens of the UK to leave the EU, I have a musical tribute to offer.

Congratulations to the UK on this well deserved divorce from the EU.

Sarkozy Calls for New Treaty, Reiterates “Turkey has no place in EU”.

Former French president Nicolas Sarkozy has called for a new treaty. Here is a clip from the Telegraph Live Blog.

“I call for a meeting of European heads of state and government to take the decision of drawing up a new Treaty. That will show the peoples of our continent that Europe has decided to take its destiny in hand,” said Sarkozy.

This treaty should have “five pillars”.

  1. The first should be the creation of a Schengen 2 agreement overseen by a European interior minister to ensure Europe’s borders were “respected” and that non-Europeans could not enter and move around the continent as they please.
  2. Second, he called for “an economic government of the eurozone with a stable president elected by his peers, a European monetary fund that will “ensure the independence of Europe”.
  3. Third, the principle of subsidiarity “must become a reality”, bar around a dozen stategic priorities that can be handled at continental level, such as energy and agriculture.
  4. Fourth, the European Commission “can no longer cumulate executive, legislative and judicial competencies”, he said. “It must enact the European Council’s decisions” and not take any without the “explicit accord of the European parliament or national parliaments”.
  5. And finally, “the process of European englargement must clearly be stopped until further notice”. Turkey, he went on, “has no place in the EU”.

Congratulations to the Telegraph for excellent live coverage. MarketWatch was pathetic, the Wall Street Journal had few details and frequently lagged by an hour, Number Cruncher UK was down for most of the evening, Matt Singh himself tweeted hardly at all, and Bloomberg was weak.

Mike “Mish” Shedlock