Don’t know if you caught the blatant Euro propagandising the BBC has been up to here. All of a sudden, wee Georgie Osborne is a BBC hero, much loved, because he said that the UK wants to see the Euro saved. Funny old world, isn’t it? And what about those evil Euro-sceptics who take advantage of the Irish meltdown to point out the folly of EMU? How very dare they…
SAVE THE EURO!
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“Ministers want us to believe that the massive bilateral loan we’re about to give to bail out the Euro is made at their discretion. Simply not the case.
It is the case that being outside the Euro, we’re not having to stump up the cash through the European Stability Fund.
But we’re actually paying through something called the “European stabilisation mechanism”. It was established by Article 122 of the Lisbon Treaty, no less.
It means the decision on whether we pay or not is subject to qualified majority voting. In other words, even if ministers said “no”, we’d still have to cough up.
Ministers are not the authors of this deal. It seems they’re required to by the Lisbon Treaty.”
http://www.talkcarswell.com/
Now wouldn’t it be novel if the BBC actually told us the facts – just for once.
To add insult to injury, Labour signed the treaty extension 2 DAYS AFTER THEY HAD LOST THE ELECTION. With a gov like that you have no need of 5th columnists, it’s labour/bBC ‘It’s what they do’.
WE will give the money because our useless banks will go under again if Ireland defaults( vis a vis the unlimited bank guarantees), not to mention the embarrasment to the GPO which is tied in as well.
This was all completely predicatable and I am sure the government knew it.
Anothe lien on the lives and labour of us and our children. This is just the beginnning.
I believe that the situation has been summed up well on the notayesmanseconomics blog. Here are his thoughts from Saturday which turned out to be true.
“Now we find the possibility that the UK will be dragged into the rescue plan for Ireland via a different European Commission fund. This has two implications. Firstly the then Chancellor Alistair Darling committed us to a project at a time he was denying it and secondly that we are being dragged into support of the Euro project when we have nothing to do with it.
I wish to make it clear that I wish Ireland the best in difficult times but in my opinion the Euro zone should solve its own problems. Back in 1992 when the UK was in trouble nobody helped us. Also as time goes forwards I suspect there will be other calls for money/aid from Euro zone countries with Portugal and possibly Spain leading the list and if we start now with Ireland we have to realise there will be other calls too.Accordingly I believe that our government should be very circumspect before offering help as it is unlikely to be the last call and may not even be the last call from Ireland and there is a danger of us getting on a treadmill we cannot get off. As an example I believe the “temporary” help provided to Greece has now become effectively permanent.”
So there at least is part of it the BBC does not want to admit that a Labour Chancellor said one thing and did another…. It is interesting that he feels we will be called on again and he has a much more accurate track record than the BBC.
http://notayesmanseconomics.wordpress.com
In news that may send a chill down our Chancellors spine I notice that notayesmanseconomics feels this.
“I see as I look around a lot of talk of rescues in the Euro zone but as I have written today I see no sign of anyone actually being rescued so far. Perhaps delaying action might be a better term as if we look at Greece we see that the EU/ECB/IMF troika is calling for yet more austerity in return for more tranches of aid.”
If he is again right this poses a lot of questions about whether Ireland will be able to repay us the money we lend it.
Here’s a thing. Slovakia, a Euro zone member, was pencilled in for 816 million Euro worth of the Greek bail out money. The newly elected centre-right government opposed this, held a vote in their own parliament and the bail out money proposal was defeated 69-2. So, the Slovak government told the EU they weren’t paying it and they didn’t pay it. Some EU bigwigs were outraged (threats of “political consequences” not legal ones) but so far the world has not fallen in on the Slovaks.
Oh, and I can’t find any reporting of the Slovkian insurrection on the BBC website. Did they report it at all, anywhere?