The Euro crisis in a few words
Germany is bailing out most of the Euro countries with money this is placing massive strains on Germany's economy.
Labour signed up to help them financially a few days after the General Election
(Remember when Brown would not go?)
We told Europe some months ago there would be no more money from the UK
There was a major capitalisation last week with rumours of Euro banks in problems
Germany and France may lose their AAA rating which will make their borrowing rates go up
( just like Greece, Italy, Portugal & Ireland )
2 weeks ago Ireland had a budget in which VAT went up to 23% and all benefits were cut, worst still it now seems Ireland sent its budget to Germany for approval before it told its people
Now we come to the UK
London is the biggest finance centre in the world, dealing with stocks, money and commodities from all nations
It produces about 10% of the UK's GDP we make money from most other countries in the world
It keeps about 1 Million people in work and jobs
Europe wanted a chunk of our finance market (With the taxes and controls that go with it)
We said No way, Europe didn't like it
Even now the money markets do not seem to have any confidence in Europe's ability to put its finance in order and borrowing rates for some Euro countries went up again Friday making some debts un-payable
Labours comments are to be expected
Red Ed's been on TV saying we have done it wrong, this is coming from the Labour team who
Spent all the money?
Labour gave away our EU rebate , hard won by Maggie?
Perhaps Labour want us to give away money and jobs like they did ???
But let’s look at possible threats
Ireland has to ask German approval for its budget, how many other countries have to ask for German approval we just don’t know
It now transpires the Germans & French had already got a plan for the Euro without any UK involvement
There are stories of the Germans & French ganging up to force the UK into a corner
And what for? The Euro is a currency that has gobbled up billions in £ & $ but what has this spending got them, Greece, Spain and now Italy are considered financial basket cases.
But there’s more
A quick look at the international news (Google it yourself) shows unanimously
Europe is being classed as a financial mess.
All last week, the musings of the German chancellor, Angela Merkel, and other European leaders put the markets on edge.
This is a short time line of what happened on the 8th & 9th December 2011 from the NY Times take a look your self
8th Dec. Mariano Rajoy, Spain's incoming prime minister, stated support for the Euro zone.
9th Dec. Portugal’s economy figures released, its Economy shrank again .
9th Dec. Yields on Italian bonds rose to almost 7% the second time in a month.
9th Dec. Former Prime Minister George Papandreou said the European Union had done “too little too late”.
9th Dec. Chancellor Angela Merkel said the summit meeting will result in increased credibility for the euro zone.
Yet only a little time later in the day
9th Dec. Moody’s Investors Service downgraded the three largest banks in France.
What a stoke of confidence in France?
Sandwell Tory said
What is Germany’s problem? It simply seems there are a number of countries which should not be in the Euro and they are bank rolling these basket cases and want UK money to throw down the hole of despair.
Anyone could get an agreement with Europe by giving our jobs and money away, but we will continue to stand up for our people’s jobs and are putting Britain first.
This mess is not over yet
Someone, much, much better than I will ever be, once said
Now this is not the end. It is not even the beginning of the end. But it is, perhaps, the end of the beginning.
See also
Or from Australia
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