My Posting of a year ago on Britain and the Bail Outs

The bail out of Greece has failed and more funds are now required, that of Ireland will never be repaid as reported in the Daily Mail over the weekend. Britain is also committed to contributing funds for Portugal which has no Government to authorise repayment terms. Lending taxpayers money to such a borrower should be a criminal act!

David Cameron and Nick Clegg have governed for a year in this state of outrageous and scandalous waste, which could have been prevented as I specifically warned one year ago, as follows:

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Former Marxist Darling given last chance to fully wreck Britain's economy!

The following is contained in an Agreement reached by the EU eurozone Heads of State in an INFORMAL meeting of the Eurogroup (ie Euro currency zone members only)

- Third, taking into account the exceptional circumstances, the Commission will propose a European stabilization mechanism to preserve financial stability in Europe. It will be submitted for decision to an extraordinary ECOFIN meeting that the Spanish presidency will convene this Sunday May 9th. (Now Inactive - link removed)

Alistair Darling belongs to a defeated party and should have no authority to attend an ECOFIN meeting charged with reaching a pan-EU agreement as commanded by members of the euro currency group.

David Cameron and Nick Clegg should clarify Darling's status immediately and if possible prevent his departure from the country!

Labels: ECOFIN

posted by Martin at 8:22 AM

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Britain's Government must stem this deliberate bleeding of Britain's economy to save a currency to which we do not belong and is under any circumstances doomed.The latest on the EFSF disaster from the Wall Street Journal is here.