"If ye love wealth better than liberty, the tranquility of servitude better than the animating contest of freedom, go home from us in peace. We ask not your counsels or your arms. Crouch down and lick the hands which feed you. May your chains set lightly upon you, and may posterity forget that you were our countrymen."

Monday, 14 June 2010

EU/Spain Bailout Talks

The EU Commission further their policies for integration via Economic Government

No sooner had Frankfurter Allgemeine published an article reporting that the EU had brought forward talks to discuss a possible bailout of the Spanish economy than a spokesman for the Spanish Economy Ministry said:
"This is a lie. There's no rescue. There's nothing asked for, nor will there be, nothing, but nothing. I don't know where they got this from."
It reminds me of similar denials surrounding the Greek bailout:
Reuters2
EU Observer
EurActiv

A senior euro zone official said on Friday that there were no formal talks or preparations in any European institutions to help Greece financially and that the EU strategy towards Greece was to continue pressing hard for budget cuts.
And who can forget this from politics.co.uk?
An EU bailout of Greece is illegal under the Maastricht treaty, Norman Lamont said this morning, just before EU leaders decided to help.
 ... or this prediction from EC President Barroso?


The head of the European Commission says he is confident an emergency aid package will keep Greece's crippling debt crisis from further threatening the financial health of other EU nations.

I don't know who are the bigger muppets here - us for believing them or they for assuming we'll believe them.

The Times (no registration wall)

France & Germany are most exposed to the debt so that's why they're running round in circles. Good, because it's their show, their idea, their failing ideology. Unfortunately, the UK is the man at the top of the cliff with his ice-pick dug into the slippery surface as the Eurozone goes into freefall. Suddenly, we feel a sharp tug on our rope and, it's all over.

 The "fatally flawed" euro

Anyone who blames the economic policies of our current coalition for what's about to happen just hasn't been paying attention over the past few years. Thankfully, the UK team did remember to stock up on water and baked beans at base camp - didn't you?

On a similar EU matter, has anyone else noticed how the EU has ameliorated its language about national budgets being put before the EC prior to national parliaments? They now say that budgets may be presented *simultaneously*. What's the betting this is the option Cameron takes - because he has no other choice.

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