It's a Bear not an Elephant in the Room

Washington seized control of the G20 meeting, and thus the agenda. But for Europeans there can be no real interest in America's assertion of its God-given right to control financial markets, with the United Kingdom as its unregulated side (not kick, there is no kick left in the UK, merely a mad usurper of office trying to save his caste). The meeting at the weekend is a waste of time.

The de-financialisation (forgive me) of the international economy has had perverse effects: falling commodity prices, empowerment of statist policies, the release of pseudo-keynesian mouther-offers from their cages. But underneath lies reality. Natural resources, organised states, industrial and manufacturing capacity, an educated working population, the economic interests of the people and elites of those states, and proximity (an often derided importance in the days of easy shipping), - need I go on?

Of course the United States continues to pretend that Russia is not to be trusted. After all, they thought that all that was left to do was fight over the spoils of a collapsed socialist empire. Wrong, wrong, wrong. Russia is much older than socialism. Russia is also the extension of Europe. Not 'the West' vaunted in Anglo-American myth and, in all fairness, reality rather a lot of years ago, when Stalin ruled and there was a threat to crush the life out of the rest of us. But Europe needs to move on. Preferably leaving most of the post War structures, and ideologies behind it.

America is going to be thinking of itself for a while (hence Brown's hysteria and the extraordinary notion that he can 'warn' President-elect Obama against 'isolationism'). And Europe needs to think of cosseting and valuing its relations with Euro/Asia's largest landmass, mineral resource, trained and educated population, market, and link with the East; and with a neighbour offering a friendly hand - or should that be paw?

Never again should the Chancellor of Germany be photographed receiving the embrace of the Demented of Downing Street.

When you need a hug, Bears are Best.