IRONICALLY, now that the Maastricht Treaty has been ratified by all 12 member-states it has become obsolete and is unlikely to be implemented. The 30-year-old movement towards a federated Europe has come to a complete halt.
Western Europe lies in the middle of a deep recession. Public opinion and many political leaders tend to blame Brussels for their country's high rate of unemployment, and nationalism is proving difficult to bury.
With Germany trying hard to fight against inflation, France struggling against recession, and the European monetary system blown to pieces two months ago, it is hard to believe that the convergent economic policies which could lead to monetary union and a single currency can be carried out.
Meanwhile, Germany's constitutional court has stated that monetary union can only be built upon political union, and that this has not yet been achieved.
Germany, just like Denmark and Britain, will from now on enjoy an opt-out right.
Even without having provided itself with an opt-out clause, France is presently holding up its fellow EC-members with its threat to veto a General Agreement on Tariffs and Trade (GATT) agreement which it deems contrary to the interests of its farmers.