More money to EU coffers

[Streetwalker]

Whilst British leaders attempt to form some sort of working government our European friends are hatching plans behind our backs.It would now appear Greece is to be helped under article 122 of the Lisbon Treaty which states that EU can rescue/aid member states in exceptional circumstances.The drafters of the treaty were thinking about natural disaster or energy shortages not bankrupts.Friday nights summit decided that Greeces problem (and its threat to the Euro I might add) was "exceptional circumstances"

Alistair Darling has been summond to Brussels to sign on the dotted line,though the conservatives and liberals have to be kept informed under hung parliment rules.
Everything needs to be done and dusted by tonight,before the markets open on Monday as Euroland is particually worried about the economies of Portugal ,Spain and Eire going the same way as Greece.In that event the Euro would collapes taking the rest of Eurozone down the plug hole.
Wonder how much this is going to cost us?

[Major Sinic]

Whilst British leaders attempt to form some sort of working government our European friends are hatching plans behind our backs.It would now appear Greece is to be helped under article 122 of the Lisbon Treaty which states that EU can rescue/aid member states in exceptional circumstances.The drafters of the treaty were thinking about natural disaster or energy shortages not bankrupts.Friday nights summit decided that Greeces problem (and its threat to the Euro I might add) was "exceptional circumstances"

Alistair Darling has been summond to Brussels to sign on the dotted line,though the conservatives and liberals have to be kept informed under hung parliment rules.
Everything needs to be done and dusted by tonight,before the markets open on Monday as Euroland is particually worried about the economies of Portugal ,Spain and Eire going the same way as Greece.In that event the Euro would collapes taking the rest of Eurozone down the plug hole.
Wonder how much this is going to cost us?

In this regard, thank goodness that we have not adopted the Euro. My understanding is that as we are outside the Euro currency mechanism, we have no obligation to contribute to any Eurozone rescue package. Does b***** all to help my investments mind you. The whole global economy is wobbling all because the EU couldn't get its act together and make a quick and cohesive decision, before the contagion started to spread.

[DC]

I think it could set a very dangerous precedent. As it seems quite a strain for the EU to save Greece, and in all likelihood the country will not recover to any reasonable state in the foreseeable future, what happens if Spain or any of the other PIGS go under? Will the EU be dishing out bailout funds for them?

[Streetwalker]

In this regard, thank goodness that we have not adopted the Euro. My understanding is that as we are outside the Euro currency mechanism, we have no obligation to contribute to any Eurozone rescue package..

Its why they are trying to force it through under the Lisbon treaty. EU funds (UK tax payers money) would then underwrite any loans.

[Streetwalker]

I think it could set a very dangerous precedent. As it seems quite a strain for the EU to save Greece, and in all likelihood the country will not recover to any reasonable state in the foreseeable future, what happens if Spain or any of the other PIGS go under? Will the EU be dishing out bailout funds for them?

Greece should never have been allowed to join in the first place .The EU broke its own rules in allowing it. The EU will continue to bail out member states that are part of the euro. Untill of course the whole system collapses

[fubar]

I was under the impression that bailing out of Greece is illegal during this period of the parliamentary process .

[Streetwalker]

I was under the impression that bailing out of Greece is illegal during this period of the parliamentary process .

EU law as we all know takes precedent over that of the UK. Alistair Darling stated on 9th May that any solution to the crisis would NOT cost the UK anything financally. As feared later the very same day he took £ 15 billion out of the UK economy as part of the European rescue plan for the Euro.

Does anyone still think we get a good deal from the EU ?

[Midas]

EU law as we all know takes precedent over that of the UK. Alistair Darling stated on 9th May that any solution to the crisis would NOT cost the UK anything financally. As feared later the very same day he took £ 15 billion out of the UK economy as part of the European rescue plan for the Euro.

Thereby well illustrating the duplicitous nature of our politicians......

Does anyone still think we get a good deal from the EU ?

No. Next question