Tuesday, July 13, 2010

Is the Eurozone breaking up - Bruges Group Meeting

Wednesday, 14th July 2010 6.45pm for 7.00pm

ADMISSION: £10 payable on the door or in advance Including wine, orange juice, mineral water and nibbles

To purchase your ticket in advance visit: www.brugesgroup.com/meetings Or call Robert Oulds on 020 7287 4414, or reply to this e-mail


PROFESSOR TIM CONGDON, CBE Professor Tim Congdon is one of Britain’s leading economic commentators. He has written a number of books on monetary policy, contributes widely to the financial press, and makes frequent radio and television appearances. Professor Congdon will say; "The eurozone is close to breaking-point. The banks of Ireland, Greece, Spain and Portugal have become heavily dependent on the European Central Bank for their funding - but there must be limits to how much the other Eurozone member countries are willing to let the ECB lend to the troubled banks in those four countries. The yield on Greek government bonds had shot up to over 12% before the ECB started buying Greek government debt on 10th May, which pushed the yield down again to single-digits - but now the ECB is saying that it cannot keep on buying Greek government bonds and the yield has crept up to over 10% once more. Back in the 1990s the architects of the single currency didn't think through how the ECB was meant to act as a central bank - the banker to both the government and the commercial banks - in a crisis. "Their folly and neglect then seems likely now to lead to the worst setback for the cause of European integration since the founding of the EEC in 1957."

Click here to view Tim Congdon's power point presentation

DOUGLAS CARSWELL MP Douglas Carswell is the Member of Parliament for Harwich and Clacton. Dod’s political biography describes Douglas as being “Tall and Eurosceptic ... one of his party’s radical thinkers”. Douglas is a leading advocate of Direct Democracy – pushing power away from Whitehall and Brussels, down to the individual, where possible, or failing that the town hall. Achieving Britain’s independence is one of Douglas’ overriding political interests.

LOCATION: Princess Alexandra Hall, Royal Over-Seas League, Over-Seas House 6 Park Place, St James’s Street, London SW1A 1LR

AGENDA: Lectures: 7pm – 8pm Discussion: 8pm – 8.30pm Wine and refreshments: 8.30pm – 10pm



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