‘In Europe, not run by Europe’ part XXVIII

Get ready to hand over your wallets… the EU says so. Thanks to the eagle eyes of The Boiling Frog we see yet again Cameron’s fantasy of being in Europe but not run by Europe exposed for the complete bullshit it is and recorded in Hansard:

Mr Tobias Ellwood (Bournemouth East) (Con): It is clear from the response that we have heard today that the Labour party is still in denial about the huge deficit that it created. I congratulate my right hon. Friend on coming up with a workable, viable and transparent plan that can take us out of this mess.

I take my right hon. Friend back to the permanent fiscal stability facility, which will not come online until 2013. What will happen if another eurozone country requires a bail-out? Will Britain’s involvement be kept to a minimum?

Mr Osborne: I thank my hon. Friend for his initial comments. I say this about any future action that we may or may not have to take. On the bilateral loan, I said last week that there were some very specific—I stress the words “very specific”—circumstances that would lead us to support Ireland because of the interconnectedness of our economies. I also said that the European financial stability mechanism, the EU fund, was something that the previous Government had signed up to, and that the UK could not block its use because it operated under qualified majority voting. I had to deal with that situation, but by finding now what I think is a way forward that means that the mechanism disappears in 2013, we have taken a bad situation and made it a lot better.

The money quote is highlighted in bold italics.

3 Responses to “‘In Europe, not run by Europe’ part XXVIII”


  1. 1 jameshigham 30/11/2010 at 7:29 pm

    We may well be out by then.

    Hopefully.

  2. 2 TheBoilingFrog 01/12/2010 at 2:58 pm

    As always AM, thank you very much for the link. My guess is that Portugal will be bailed out before Christmas – a nice present for us all.

  3. 3 Autonomous Mind 01/12/2010 at 3:11 pm

    Always a pleasure. I think Brussels will try to park this until January. The Germans will take a lot of persuading to get out their piggy bank and the Eurocrats will need time to shove Merkel back into her place.

    Needless to say the electoral consequences of this for her will be huge. Bowing to the wishes of her EU masters on this subject is akin to signing her political suicide note – in German politics at any rate. I wonder what personal preferment will be promised to her in return for access to the German kitty? Interesting times.


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