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Source: http://www.guardian.co.uk/commentisfree/story/0,,2045071,00.html
Faced with Iranian Blackmail, Europe Must Show Real Solidarity
[Guardian-UK] Timothy Garton Ash - Last week, while the EU celebrated 50 years of peace, freedom and solidarity, 15 Europeans were kidnapped from Iraqi territorial waters by Iranian Revolutionary Guards. What is Europe going to do about it? Where's the solidarity? Where's the action? Europe has more direct, immediate leverage on Iran than the U.S. does. Europe should flex its economic muscles. The EU is by far Iran's biggest trading partner. More than 40% of its imports come from, and more than a quarter of its exports go to, the EU. Much of this trade is underpinned by export credit guarantees given by European governments, notably Germany, France and Italy. The total government underwriting commitment in 2005 was £3.9b., more than for Russia or China. In the Commons Wednesday, former foreign secretary Malcolm Rifkind asked if Britain's European friends - and Germany, France and Italy in particular - might be prevailed upon to convey to Iran the possibility that such export credit guarantees would be temporarily suspended until the kidnapped Europeans are freed.