David Cameron vetoes EU-wide treaty change

#2
Cameron grew some balls. I would have paid to see the look on Sarko and Merkels faces...
 
#3
Fecking great one. Its about time the cheese eating surrender monkey was put back in his box!
 
#4
I will be raising my glass to David Cameron tonight for the first time since the coalition was formed. They may have taken a while to sprout but the lad now has balls. I wish I didn't.
 

Wordsmith

LE
Book Reviewer
#5
Here's a dealer with some common sense.

09.04 Following the treaty veto, Terry Smith of interdealer broker Tullett Prebon, didn't mince his words. He told BBC Radio 4: [The UK is] as isolated as somebody who refused to join the Titanic just before it sailed .
What all this treaty nonsense is ignoring is that there are very immediate problems in the Euro zone - Greece is going to default on at least 50% of its debt pretty soon, with Portugal probably going down that route late in 2012. Italian bond interest rates are on the rise again - heading back towards the 7% level that means they'll need a bail out from the EU/IMF some time in Spring 2012.

The Euro zone has a fatal structural flaw that cannot be sorted out for a decade at least - the Club Med countries (Greece, Portugal, Italy, Spain) have lost so much competitiveness relative to Northern Europe that their economies are at a permanent disadvantage. All the austerity measures to put this right seem to have accomplished thus far is to put several countries into a recessionary tail spin.

All the posturing from Sarkozy and Merkel cannot disguise that the Euro zone is going to implode sooner or later. I would rather UK PLC was not shackled to that particular corpse. So Cameron did the necessary - if the Euro zone and hangers on wants to commit financial suicide - let them. It'll hit the UK (the Euro is one of our biggest export markets) but the longer the implosion takes to happen the better the bomb shelter UK PLC can build itself.

As a country we should be getting rid of as much bad Euro zone corporate and sovereign as we can. We should also be trying to develop markets outside the EU - in the so called BRIC's for example (Brazil, Russia, India and China). And UK companies should spend the next few months making sure they are as a bomb proof as possible when the Euro zone implodes.

The Titanic has sailed....

Wordsmith
 

Goatman

ADC
Book Reviewer
#6
' may you live in interesting times......'

some comments across the patch:
11.labourvoter
I have never voted Conservative in my life but I think in this case Cameron was correct to use the veto. Well done Cameron! The Tories have done the right thing!!!
Comment number 12.FilMack

2 Hours ago

What a choice Cameron had: sign up and ALL of us through the City pay £40b or don't sign and face being excluded. We are already 'excluded' as not in the euro. On balance the man did right!
Comment number 13.Frampton58

2 Hours ago

The EU should be dissolved as it has not had its accounts signed off for over 14 years now. Any UK company would have been struck off years ago. The rules for entering the Euro were fudged so that Italy and Greece could join despite their 'massive overdrafts'. The French and Germans broke the rules on the Euro some years back but everyone turned a blind eye. EU = Corruption
Comment number 14.RoseSelavy

2 Hours ago

Game on!
Comment number 15.feistygrampy

2 Hours ago

The only winners are Rompoy, Barroso and the other Euroleeches who will continue to waste our money on grandiose schemes while Europe sinks into oblivion. A plan which will impose financial penalties on the likes of Greece (and presumably lend them the money to pay them) is doomed to failure as is approving the budgets of those who will not stick to them anyway. What a fiasco!
 
#7
Interestingly, Sky News is reporting the following instead. It could be my imagination, but they seem to have come quite sharply anti-coalition in the last couple of weeks. Somebody in Government say the wrong thing, perhaps?

Cameron Blamed for EU Treaty Deal Collapse

The PM is being blamed for the failure of attempts to agree a new treaty to deal with the economic crisis in the eurozone.
Euro Summit: Cameron Blocks EU Treaty Deal To Tighten Fiscal Rules Governing Eurozone | Business | Sky News
 

Sixty

ADC
Moderator
Book Reviewer
#8
So now we've got a two speed Europe with us in the slow lane and excluded so that Cameron could play up his anti credentials to the right wing of his party?

Lovely.
 
D

Deleted 20555

Guest
#9
Sweden, Switzerland both of which are outside the Euro seem to be doing ok - in the case of the Swiss extremely well - why shouldn't we be able to do the same.
 

Wordsmith

LE
Book Reviewer
#11
Interestingly, Sky News is reporting the following instead. It could be my imagination, but they seem to have come quite sharply anti-coalition in the last couple of weeks. Somebody in Government say the wrong thing, perhaps?
[Threadjack]

Maybe because they started investigating phone hacking seriously - thus exposing News Corporation to bad publicity and major losses (huge losses if they manage to prove phone hacking in the US).

[/Threadjack]

Wordsmith
 

Wordsmith

LE
Book Reviewer
#12
So now we've got a two speed Europe with us in the slow lane and excluded so that Cameron could play up his anti credentials to the right wing of his party?

Lovely.
Look at the economics - not the politics.

It's only a bad move if the Euro doesn't go tits up. If the Euro implodes, Cameron has won the next election.

Wordsmith
 
#13
So now we've got a two speed Europe with us in the slow lane and excluded so that Cameron could play up his anti credentials to the right wing of his party?

Lovely.
You may have misunderstood what is happening, possibly. But UK is now the one in the Fast Lane and Germany is stuck on the hard shoulder with the engine in its BMW siezed up. Freddy Frog is on the way to rescue him in his citroen recovery truck.
 
#14
So now we've got a two speed Europe with us in the slow lane and excluded so that Cameron could play up his anti credentials to the right wing of his party?
We're not excluded from the EU, just excluded from talks about the Euro currency, which seems fair as we're not in it... we have an equal amount of say in the Dollar and Yuan, so whats the problem?
 
#15
I listened to that leech Douglas Alexander this morning on R4, who was quizzed by the presenter John Humpherys , so if Cameron was wrong what would you have done. eventually the presenter after deciphering the utter snake twisting bile from Douglas Alexander that he would have done the same. But still this slimey knob jocky wanted to make Cameron look like a complete twat, albeit it he agreed with his decision (god I loathe Liabour)
 
#16
"Governments will also have to submit their national budgets to the European Commission, which will have the power to request that they be revised."

Is this the same organisation that hasn't had its accounts signed off from the year dot?
 

FORMER_FYRDMAN

LE
Book Reviewer
#18
So now we've got a two speed Europe with us in the slow lane and excluded so that Cameron could play up his anti credentials to the right wing of his party?

Lovely.
Er... when do you think we were ever in the fast lane and not excluded?

Europe is a Franco-German project run for their exclusive benefit - it always has been and always will be. Since German and French pan-European projects never end well, we are best advised to distance ourselves.

Paris and Berlin may believe they've accomplished a clever stitch-up but they've made themselves directly responsible for all future austerity programmes, no matter how many puppets they put in place. They may think they've acquired new powers but they're going to find themselves in a difficult place if they try to enforce them - which they will have to do when Europe's periphery tires of living on rock soup just to keep Germany's trading position favourable.
 

FORMER_FYRDMAN

LE
Book Reviewer
#19
Sweden, Switzerland both of which are outside the Euro seem to be doing ok - in the case of the Swiss extremely well - why shouldn't we be able to do the same.
Sweden? I think you mean Norway.
 

Sixty

ADC
Moderator
Book Reviewer
#20
You may have misunderstood what is happening, possibly. But UK is now the one in the Fast Lane and Germany is stuck on the hard shoulder with the engine in its BMW siezed up. Freddy Frog is on the way to rescue him in his citroen recovery truck.
I rarely misunderstand things. It's a talent. However it seems to me that future decisions regarding the single market will be taken, understandably, in the interests of the 23 signed up members rather than in the interests of the 4 who disagreed.

Still, good to know we can count on Hungary and the Czech Republic should it collapse and that our counter-balance to a Franco-German dominated Europe has been binned.
 

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