Translate

Friday, January 29, 2010

Darling Fears Art. 122 Of The Lisbon Treaty


The Financial Times is complicit in a deception of its readers this morning. 'What's new?' a cynical media-observer might ask? Here is an extract from the article I am referring to. Ask yourself as you read, why is Darling stating that it's not up to Britain to bail out the Greek Euro? Surely that's obvious.

Alistair Darling said on Friday that Britain would not join any European effort to bail out Greece but pledged not to use differences in global financial regulations to promote the City of London.

Answering questions about a possible European bail-out of Greece at the World Economic Forum in Davos, the British chancellor made it clear he saw the problem as one for the eurozone and not the wider European Union.

“The euro area has primary responsibility for anything that might be happening. We are not involved in that,” he said.

Britain’s decision to opt out of the single currency means it is not part of the eurogroup, which discusses eurozone affairs.

“It is in the interests of the eurogroup they provide whatever assistance [is required],” Mr Darling added.


In the Lisbon Treaty, which Gordon Brown rushed to Brussels to sign, and which he crashed through both Houses of Parliament as the first act of his premiership, there was one small term which Darling is getting worried about, Article 122. A majority of the Council of Ministers of the EU can decide that a financial rescue package can be put through to bail out a eurozone member.

This is how I described the situation two weeks ago -

This is the most incredible news I have yet heard about the Lisbon Treaty. Article 122 - did you read this one Mr Brown? - states that where a member state is in severe difficulties, the Council Of Ministers may grant Union financial assistance, and no country can veto the decision if they do. Greece is about to crash out of the Euro, unable or unwilling to fix its deficit. A Union bail-out is being planned as the only way to stop the Euro from disintegrating.

According to Open Europe, Britain will be required to contribute. Even though we are not in the eurozone we signed all the terms of the Lisbon Treaty. Open Europe today says that Britain's share of the Greek bail-out will be £7 billion, or higher if other bankrupt eurozone countries like Spain are excused their share, maybe £8 or £9 billion.

Can you believe it? We in the UK are already borrowing to the tune of (minimum) £178 billion this year, of which £10 billion is going down the throats of EU bureaucracy, and now this.

Did anyone have any idea that dear Old Gordon was signing us up to bailing out the EU's bankrupt states such as Spain, Portugal, Italy, Greece and Ireland when he dashed off to sign up to Lisbon first thing he was appointed, when he refused to be photographed signing the wretched thing?


Darling is clearly now terrified that the said Article 122 is about to be activated. He is even offering to roll over and lie down like a lamb so that Barnier, the new Financial Overseer of the EU, can ram as many of his new regulations as he likes down the throats of the City Of London, as long as the EU doesn't try and saddle Britain with another possibly £50 billion of liabilities to save the Euro, on top of the £1 trillion Darling already has to deal with.

To the Financial Times, the worthy and reputed European newspaper of choice, the Lisbon Treaty has already ceased to exist, as it has for Alistair Darling.

I've got news for the Financial Times, and the Chancellor. It hasn't.

This is the talk that has spooked Darling, coming from the EU yesterday. -

Eurozone countries and EU authorities are reluctant to spell out how they would assist Greece, for fear that it would relax pressure on Athens to attack its problems and unsettle rattled financial markets.

The immediate priority is for Athens to demonstrate that it is serious about cutting public expenditure, improving tax collection, publishing reliable financial statistics and tackling corruption, the officials said.

“Greece has to sort this out itself. That is the issue,” a French official said.

Mr Barroso said “the best way to help Greece is for Greece to respect its obligations under the stability and growth pact”, a reference to the EU’s fiscal rules.

His message was echoed by José Luis Rodríguez Zapatero, Spain’s prime minister, who said: “The euro club is a strong club with strong ties and reciprocal support. Let no one be mistaken about that.”


There seems little doubt that a rescue is going to be attempted, and that Britain will be made to take part whether Darling likes it or not. The only thing is whether the rescue will be credible and in time. If darling is refusing to take part in one, the EU will be in trouble raising enough funds.

The real story missed by the British media almost entirely is that the Lisbon Treaty could cost Britain £50 billion if we are roped into a major rescue of the PIGS. And even in the Financial Times, this simple truth will not be stated in totalitarian media-controlling Europe.

That's why we blog. The truth will get out. We will not be enslaved with lies and propaganda. We will live as free people. We are already free in our hearts and in our minds.

9 comments:

Quiet_Man said...

And Cast Iron Dave is happy to keep us there too.

Isn't life just grand

Anonymous said...

tapestry, you should have a look at:


www.zerohedge.com

it is US focused, but is like the order-order of US financial blogs and illustrates what you can do by piecing together the pieces.

MSM like the FT (alphaville), WSJ etc. reference it

Rob said...

So we now know what Browne meant by Saving the World. I bet the daft twonk has signed the same for any Un nations aswell. What do you expect the mans fea Govan, he was problably drinking his buckie(Buckfast wine for Neds) while signing the lisborn treaty.. Rab C Nesbitt could of done better! atleast he would stick the heed on Boraso!!!!

Francis Cudjoe said...

the unknown truth about eu: In the 19th century, before the French founding fathers of EU, Jean Monnet and Robert Schuman - were born, a British public servant predicted that the next major political feature in history after the restoration of the Jews to Palestine would de a confederation of European nations. And this European confederacy would develop through a major European crisis. He has been proved right. Eu was born in May 1950. The Jews went back to Palestine in Masy 1948. He then warned that Britain would not be saved if it joined this political Union. He made this prediction about 68 years before the nation of Israel was born. Whatever he wrote about political Europe has come to pass. The Lisbon Treaty has paved the way for his prediction of the future of Europe to be fulfilled. The British people must heed his warning and force the politicians to withdraw Britain from the EU. No one should vote for LIBLABCON. They don't deserve ourt votes

Anne said...

It reads that if the UK has to support Greece, even though the UK is not in the Euro, the EU will have to support financially the UK if needs be, even though the UK is not in the Euro. I suggest that Art 122 works both ways.

The Treaty of Lisbon should have been put before the people of each individual Country. The people will eventually reject the EU one way or another and return to their own Constitutions.

Gemma said...

" EU’s bankrupt states such as Spain, Portugal, Italy, Greece and Ireland". Sorry but this is plain nonsense, and besides the UK isn't doing particularly well either – and if these countries' economies start struggling for real the UK can't just pretend the rest of the world does not exist. Who do you think most of this country's trade is with? The rest of the EU. What do you think will happen if these economies really do go bankrupt? Do you think the UK will do well on its own, like a little island paradise?

This is not particularly helpful commentary. It's just xenophobia. I am in Italian living in the UK and we are not bankrupt – I can guarantee that (we only have a questionable prime minister but that's another issue…). I feel deeply insulted. Are you going to start kicking EU citizens like me out? You would not be allowed under EU law, but the language you use in your Eurosceptic blogs feels very threatening to people like me – and foreigner-bashing comes across as being the main purpose and the real agenda behind Euroscepticism. In fact I would argue that yes, if you believe this nonsense, vote UKIP or even BNP. At least they are more honest about their motives (UKIP and BNP are actually quite similar in my mind although UKIP tries to hide this).

Just say you think all foreigners are stupid and it will make your life easier, instead of having to make up all sorts of stories and exaggerated claims about the Lisbon Treaty leading to the end of the world as we know it.

tapestry said...

I have done business with Italian companies for over thirty years, Gemma. I admire your engineering and technical manufacturing skill, love your language and your style and even your emotional vulnerability!, and of course your sense of humour, beautiful cities and countryside. The food is still good but not as good as it was thirty years ago.

But at the same time as a foreigner visiting Italy it was not difficult to see the downside of Italian attitudes. The industry I deal with is heavily penetrated by organised crime, and many products are sold from Italy on a fraudulent basis. Not the place to explain here, but cheating is not really thought of as wrong in Italy.

I am not eurosceptic. I am europolemicist. The Euro is a disaster in the making. Britain should have nothing to with it. The Lisbon Treaty was imposed on Britain - and the Italians. We are no longer living in a free country.

I don't think Britain should be made to pay Italian debts. Sorry. Much as I love you. My money is not yours.

If you want to sign you to a european superstate, please do. but realise that you cannot run your country as you are any longer. You costs must be cut. Your wages. You will be made to pay your debts, and many experience bitter poverty. It was not my decision. I tried to stop you, but no one was listening.

In Britain we have also a government with no brain which thinks money grows on trees. But as we are outside the Euro we can see our currency fall if it needs to. We must get free of the Lisbon Treaty and repatriate powers as soon as we can.

The country you are living in will welcome you to work here I am sure. But please allow us to run it properly, not in the service of corrupt politicians who will bankrupt us all if we let them.

I hope Italy can find her way through the mess too. But you will do best to get out of the Euro, and take responsibility for yourselves.

tapestry said...

This blog post is getting tarffic via facebook each day, so I thought I'd add a comment.

Article 122 states that the Council Of Ministers can encourage solvent member states to go to the rescue of an EU member state in a 'spirit of solidarity.'

In other words countries like Britain would be strong-armed to join in the 'spirit of solidarity'.

They cannot force us to join, in the sense of Qualified Majority Voting. That was the case in the text of the article in the former EU Constitution, which was watered down for Lisbon.

But the pressure could be put on. It would be much cheaper in the long run to help Greece to leave the Euro and start again.

criticpapa said...

Your post was quite good than other blogger, so simple yet imformational.
mind if I put a link back to you?
men's suit
anyway I'm william