Sunday, 9 May 2010

UK must underwrite Eurozone loans

I, along with Alan Wood & Trevor Colman campaigned vigorously in the UK against the Lisbon Treaty. The UKIP leadership who are paid by the EU made no serious efforts to organise a UK campaign against this Treaty and indeed blocked other's efforts to do so. Our country will now literally have to pay for this as the EU invoke article 122.2 of the Treaty saying the council can help a member state of the 27-nation block in serious difficulties caused by circumstances beyond its control, EU ministers may grant it financial assistance. This clause was of course intended to deal with natural disasters, earthquakes etc. Greece's problems were not a natural disaster. They caused by their corrupt politicians and power crazed EU politicians like Barroso.

Barroso gave the real agenda away when he was quoted today as saying, "We will defend the Euro whatever it takes". He is terrified of what will happen to the Euro when the markets open tomorrow. That defence includes UK funds, credit rating etc and we are not even in the Euro! The decision will be made by QMV so the 16 Euro zone members can vote through a proposal to help themselves to British money and credit. And who agreed to QMV on these matters but Lord Pearson's Eurosceptic Tory political friends. The whole deal was cooked up by Merkel and Sarkozy yesterday who unsurprisingly agreed to help themselves to as much British money as they can. It will play well for Merkel in today's Westphalia elections where her government is under threat.

I never fail to be astounded at naivete of UK politicians and officials in their dealings with the EU. Their documents are all written in deliberately ambiguous language so that the real power lies with those who interpret the regulations. Thus we now have whole swathes of law made by the dubious politically motivated judges of the European Supreme Court. The whole approach was put most succinctly by an Italian EU official who said we like ambiguity that we can apply rigorously to our enemies and interpret helpfully for our friends. It is the EU way.

Meanwhile they continue to rip the goose that lays the golden eggs out of the City of London by Euro style fund regulation based in Paris and Frankfurt not London. All they will succeed in doing is impoverishing us, which Sarkozy approves of, and benefiting New York and Zurich. Funds will simply not accept being ruled by politically controlled courts interpreting ambiguous regulations littered with get out force majeure clauses.

So there you have it. Our hideously over-indebted nation will be forced to take on and underwrite yet more debt for the European dream. I doubt if the Cameron Highlanders, the Cleg clog dancers and the Gay Gordon Highlanders can square this further EU rip off of our impoverished country.

You can listen to my take on the current LibDem Con situation by clicking on the Youtube link below.


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