Wednesday, January 18, 2012

IMF seeks another $600 Billion for the Euro

The Euro is DOOMED! Throw no more $$$$$s or £££££s in that direction!

Greek default cannot be prevented only POSTPONED!

The € is a currency fronting what decency and democracy exists to oppose!

Link to the Bloomberg report on the latest request for extra cash which includes this:
The International Monetary Fund is proposing to raise its lending capacity by $500 billion to insulate the global economy against any worsening of Europe’s debt crisis, according to a person familiar with the talks.
The Washington-based lender currently has about $385 billion available to lend and wants to lift that to $885 billion after identifying the potential for a $1 trillion global financing gap in the next two years, the person said. To incorporate a cash buffer, that means asking its membership for $600 billion.

UPDATE at 1630 GMT. Douglas Carswell has blogged on this disastrous proposal, linked here 
to which Denis Cooper has added the following sensible suggestion and protest:

As I've argued before, MPs should not permit the government to use an Order, secondary legislation, to authorise payments to the IMF when it's clear that the money would be destined for eurozone bailouts which are illegal under the EU treaties and therefore under UK primary legislation approving those treaties.
If the government insists on doing this it should only be done through primary legislation, an Act of Parliament which expressly stated that the payments were being authorised "notwithstanding the European Communities Act 1972".
Posted on 18 January 2012 14:17 by Denis Cooper



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