Opinionomics | 3 May 2012

Must-read comment and analysis. The Eurozone's all messed up - but can it change course?

1. Lex in depth: Facebook (£) (Financial Times)

Robert Armstrong and Stuart Kirk crunch the numbers about the upcoming Facebook IPO.

2. What are the alternatives to austerity for the Eurozone? (Marginal Revolution)

Tyler Cowen hits back at Ryan Avent's response to Gideon Rachman (it's all getting a bit warlike in the commentariat), and takes a similar line to Rachman himself – regardless of the benefits (or not) of austerity, there's no realisitic alternative.

3. The boom and bust of Mervyn King (BBC News)

Robert Peston shares his thoughts on Mervyn King's Today Programme lecture.

4. Call it a depression (Economist | Free Exchange)

Ryan Avent argues that even absent a major economic crisis, the situation in the Eurozone is as bad as it can be.

5. What is living and what is dead in the contributory principle? (ToUChstone)

Kate Bell and Declan Gaffney assess the contributory principle 70 years on from Beveridge.

The French presidential debate, the results of which will dictate where the Eurozone crisis goes from here. Photograph: Getty Images

Alex Hern is a technology reporter for the Guardian. He was formerly staff writer at the New Statesman. You should follow Alex on Twitter.

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Tory Brexiter Daniel Hannan: Leave campaign never promised "radical decline" in immigration

The voters might not agree...

BBC Newsnight on Twitter

It was the Leave campaign's pledge to reduce EU immigration that won it the referendum. But Daniel Hannan struck a rather different tone on last night's Newsnight. "It means free movement of labour," the Conservative MEP said of the post-Brexit model he envisaged. An exasperated Evan Davis replied: “I’m sorry we’ve just been through three months of agony on the issue of immigration. The public have been led to believe that what they have voted for is an end to free movement." 

Hannan protested that EU migrants would lose "legal entitlements to live in other countries, to vote in other countries and to claim welfare and to have the same university tuition". But Davis wasn't backing down. "Why didn't you say this in the campaign? Why didn't you say in the campaign that you were wanting a scheme where we have free movement of labour? Come on, that's completely at odds with what the public think they have just voted for." 

Hannan concluded: "We never said there was going to be some radical decline ... we want a measure of control". Your Mole suspects many voters assumed otherwise. If immigration is barely changed, Hannan and others will soon be burned by the very fires they stoked. 

I'm a mole, innit.