The European Commission is raising money on the markets using the EU budget as collateral. Under terms in the Lisbon Treaty it has used all kinds of measures to find three quarters of a trillion euros. Not unnaturally the euro has risen slightly. Which is nice for the euro. But the zombie Labour regime that had to accede to this is lying when Darling states that the bail-out of the euro is a matter only for member-states using the euro. The decision-taking is only for them, but the guarantees and the borrowing is for all. Poland and Sweden, who are not euro users (the first because it hasn't qualified yet, the second because it chose not to) have agreed to join openly in support of the measures agreed, and are therefore fully involved in the decision-taking.
Without a new government, without a representative at the discussions, without defence against what New Labour did in forcing through Lisbon, tens of billions of pounds (which we have not got) are now committed to the support of a foreign currency.
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5 comments:
So now the bankrupt are lending to the hard-up.
It was done by QMV.
No British Government, no matter what its mandate or majority, could have done anything at all to stop it.
We need some fundamental changes, but it's not going to happen.
It's worse than that S, as you know better than me; the UK cannot refuse support, nor mediate or mitigate or alter in any way, the terms. First because it has no legitmately authorised representative but merely a caretaker representative; second it is worse because we must support but when it comes to asking for help for sterling, we must beg. And the answer will be No.
We disagree, Yacht. The reason the UK was helpless and put upon is because there was no representative from the UK with a proper UK goverment view. Had there been the threat of the policies to repatriate powers would have weighed on decisions.
This is why there has been a wholly inappropriate constitutional redrafting of what occurs in a hung parliament - such interpretation being by no means exhaustive of the possibilities but designed to protect the ongoing status quo vis a vis Europe.
The permanent political establishment, embodied extensively in the civil service, has been seeking European integration for the UK since before Heath, as you know.
That set of guidelines produced by McDonald was desigend to further hinder a Conservative government committed to interrupting ever-closer integration. And at the same time a narrative was run of hung parliaments to prevent the instant exposure of the rigging of the ballot.
This was timed to embarrass us. It will be interesting to watch the reaction of the country as the EU starts to really impose itself on the UK as a result of the Constitreaty.
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