Now that José Manuel Barroso is safely re-installed as European Commission president for the next five years, it would be tempting to think that - from an institutional point of view, at least - all is well in Brussels. Tempting, but wrong.
Once again, it is our old friend the Lisbon treaty that is the problem. On October 2 Irish voters, who rejected the treaty in a referendum in June 2008, will have the chance to reverse their verdict. Opinion polls indicate that the Yes camp will win this time. But there is an unmistakeable air of nervousness at the European Union’s headquarters that the polls may not be a reliable guide to the eventual outcome.
The fundamental problem is Ireland’s economic collapse over the past 12 months, which has plunged the government’s popularity ratings to unprecedented depths. The public mood is as sour as a pint of stale Guinness. In this climate, anti-Lisbon campaigners are finding some voters receptive to the argument that, since pro-Lisbon politicians ruined the economy, why should they be trusted when they say the treaty is good for Ireland?
But the Irish referendum is not the only cloud on the EU’s horizon. For even if Ireland votes Yes, there remain considerable doubts over when Václav Klaus, the Czech president, will append his signature to the Lisbon treaty, allowing it to take force. Fears are growing in Brussels that Klaus intends to find an excuse to delay signing as long as possible - certainly, until some time in the first half of next year.
The EU will then face its ultimate nightmare - that the Lisbon treaty will not have been ratified by the time that the UK holds its next general election, due by June. The rampantly anti-Lisbon Conservative party is widely expected to win the election, and Tory leaders have made clear that, if Lisbon is unratified when they take power, they will call a referendum on the treaty. All the evidence suggests the British would vote No.
If events take this course, it will poison the atmosphere in the EU and make it even harder than it is now to defend all the good things about the 27-nation bloc, such as the single European market and the successful knitting together of western and eastern Europe. Troubling times, indeed.
Tags: Barroso, British election 2010, Conservative Party, Czech Republic, European Commission, Ireland, Irish referendum, Lisbon treaty, Vaclav Klaus

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I have been the FT's Brussels bureau chief since September 2007 and was previously the bureau chief in Frankfurt and Rome. In this blog you'll find my thoughts on everything from the European Union's foreign and economic policies to the fortunes of its political leaders - as well as the more light-hearted aspects of life in Europe.
