Friday, June 17, 2011

Secrecy over Britain's Share of EU Bail Outs!

Mark Reckless MP,  made several statements, which outside of Parliament may have matched his name, when interviewed by Jeff Randall on Sky News, last evening. At times he was talked over by his fellow guest an EU fanaticalunatic, whose name does not bear repeating, and his host. The main items I understood as being stated were the following:

1.) Britain is now paying real money for the bail outs, not just incurring contingent liabilities. I heard nine billion mentioned in conjunction with July and the IMF.

2.) George Osborne had a secret deal with French Finance Minister, Christine Lagarde, that further payments from the EFSM (to which Britain and non-euro, EU member states contribute) would be halted and future drawdowns for Greece etc., would come from the EFSF, payable by Euro Group members only. This understanding was to be kept secret from Germany.

Two thoughts spring to mind on this. In regard to Item 1 above, why have such figures and their impact not been explained by George Osborne in Parliament,  particularly as the evening before he had made so much in his Mansion House speech, on the tiny receipts of potentially only one billion from the sale of Northern Rock.

Secondly, and perhaps even more significantly, does the world really wish to have as its next IMF MD, an individual prepared to deliver the kind of assurance and secretive side-deal as that alleged by Mr Reckless in Item 2 above?

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