Sunday, 9 May 2010

EU Officials Deny Europe Was 'Breaking Apart'

As the political leaders wheel and deal for power, today there have been serious talks in Brussels.

EU finance ministers met today and said they would do everything possible to defend the euro before starting talks on emergency measures to stop Greece's debt crisis spreading to other countries. Greece has already secured a 110 billion euro ($147.6 billion) three-year emergency loan package from the euro zone and the IMF.

EU sources said the Commission proposal that the ministers would discuss would extend the EU's balance of payments facility, now reserved for non-euro zone countries with current account problems, to euro zone members as well.

Angela Merkle is facing a revolt as people feel she is giving away money to Greece when Germany is in more need. It is alleged she did try to postpone the Greece bailout until after German elections but her tactic backfired when the delay intensified pressures on Athens.

Independent economists agree that a large part of the Greek loan will have to be written off. Some 76% of Germans believe Greece will never be able to repay its debts.

British taxpayers could find themselves liable for future bailouts if the details discussed today of a Europe-wide mechanism to protect countries from currency speculation is approved tomorrow.

Alistair Darling is in Brussels representing the British government.

Meanwhile we are concerned about who will have the keys to No 10 while the EU makes laws which will affect each and every one of us. It's a strange old world. Constantly Furious records his thoughts in his own inimitable style.


Quiet_Man said...

This is why we needed a referendum on Lisbon, this is the direct result of Labour reneging on a manifesto promise, it doesn't even matter if Darling says no, QMV (majority voting) will carry the proposal and £8 billion (at least) of our hard needed cash straight off to Greece to try and prop up a currency that isn't even ours.

And there are people out there who thought voting Labour was a good idea!
Not that Cast Iron Cameron or Nick EU Clegg are much better I have to admit.

subrosa said...

True QM. This is a serious development in the EU and yet little is being said in the MSM. All to do with us being deceived and yet, as you say, there will be no change.

This concentration on voting reform is a red herring. Without a firm grip of the economy and what the EU continues to do, we will have no economy to grip.

Dark Lochnagar said...

Rosie, we keep on posting on the same subjects. great minds think alike. Darling has pledged £13 billion to prop up the EURO. I thought we weren't in that, but I may have been mistaken!

Catosays said...

Exactly DL. Why the foxtrot are we putting 15 Billion into a debt that has nothing to do with us?

I'd have thought we had enough problems of our own without compounding the issue.

subrosa said...

Great minds DL. :)

Gawd knows what the books will look like when the tories get hold of them though.

subrosa said...

Now now Cato, you're not being global in your thinking. :)

Crinkly & Ragged Arsed Philosophers said...

Another contribution from the paupers purse so those at the top table of Westminster can attend the top tables of Brussels.

The big boys really are doing it and running away with the loot.

subrosa said...

Yet people keep asking where has all the money gone RA? The answer is staring them in the face.

Crinkly & Ragged Arsed Philosophers said...

Where Rosa? I've looked until I'm blue in the face and searched until my brain aches.

Believe it or not the figures have gone beyond the scope of arithmetic into the esoteric's of chaos.

Sense has been replaced by spin while the gamblers of Westminster fiddle for the pot they've all pissed in. And the sad thing is, they're all too small, stupid and selfish to do anything for the good of the country that doesn't first feed their vanities.

subrosa said...

RA, it's gone into the so called union named the European Union.

I mean, how many people are making a total fortune from other countries taxes?

Even here in Scotland we have few MEPs who have any experience in high powered politics or any real experience in business of any size yet we have them representing us.

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