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Tuesday, 31 January 2012

Who will stop the EU from breaking its own law?

Paul Goodman believes that Cameron is "off the hook on the veto", and "on it over more IMF money".

The UK's agreement to IMF funds being used to bail out eurozone countries is dependent upon the principle that "the IMF lends to countries, not currencies", says Cameron.

And what if the Eurozone becomes a 'country'?

Will not the ESM treaty together with the plethora of other treaties, a central bank as lender of last resort and accession of member states' fiscal sovereignty essentially mean that the Eurozone / EU becomes a country?

If so, then Cameron gets to fund further bailouts via the IMF without breaking his word or "misleading" Parliament.

Isn't the EU so devoid of options that it will use any tool at its disposal? How many rules and laws have thus far been bent to save the Euro? Since nobody's challenging them on their previous transgressions, why should they not push their luck further still?

Who is going to stop them? 


WitteringsfromWitney said...

"Who is going to stop them?"

The choice, it seems to me Fausty is one of two. Either we enter a managed state of non-compliance (as I suggested yesterday) or, to paraphrase Leonard Cohen, we 'take Westminster'.

Me? Not fussed which really, as long as we do!

Just (as WV says) sayin

Furor Teutonicus said...

XX And what if the Eurozone becomes a 'country'? XX

Then it will be a country that happens to use the Euro. Bit like Britain being a country that happens to use pounds sterling.

They would still be bailing out a country, not a currency.

And your point is?

Fausty said...

I'll pop over to your place to take a look, Mr W.

FT - My point is that Cameron pretends that there will be no stealth bailout of the Eurozone countries via the IMF, citing that the IMF does not bailout currencies - only countries. See?

UKIP said...

Whatever happened to Cameron's veto?


Fausty said...

Thanks, UKIP.

Elizabeth Robillard. said...

Off topic- you had a facebook follower 'julius/julias' someone - turns out was my ex husband possible, stalking me, is very important - please send the same he is using - police could be involved, I need the surname of the character 'julias' (his father is 'alan jones' it was on his profile, I think you know who I mean?) Thanks for any help here, Liz

Fausty said...

Hi Elizabeth. I'm afraid I've been kicked off my FB account and as a result, requested that they closed it. Evidently they haven't, if you can still see it. But unfortunately, since I can't access it, I can't see my "Friends" list.

I don't recall a Julius (I certainly don't know anyone by that name). As far as I'm aware, I've not encountered anyone else with your surname, either.

Sorry I can't help.

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