I'm more than a little worried by this report in the Telegraph. While the UK has been distracted by elections and the behind closed door negotiations France and Germany have been doing some behind closed doors deals of their own which has resulted in a bail-out deal for Greece which not everyone is happy with.
I have never thought that joining the Euro was a good idea and felt vindicated by the fact that the Eurozone would now need to throw billions at the Greek economy. I was rather brought down to earth when I read that despite staying out of the Euro we would have to contribute to the Greek bail-out too.
There is nothing that we can do about this because of conditions imposed upon us by the Lisbon Treaty. Remember that one? The one that was forced upon us without a referendum by Labour.
Bearing in mind our own perilous financial status I'm not too keen at throwing possibly billions of pounds that we don't have into the bottomless pit of Greek national debt.
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1 comment:
I think George Osbourne could legitimately argue that this is not a "natural disasters or exceptional occurrences beyond [Europe's] control" - it is a result of poor fiscal management in the Greek economy.
His first action as chancellor could be to plunge Europe and the worldwide markets back into the chaos of last week.
So come on, you're the party of government, what will it be - loan guarentees or market chaos? The choice is yours now!
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