Terry Smith, of the money brokerage firm Tullett Prebon
The UK is "as isolated as somebody who refused to join the Titanic just before it sailed".
Eurozone debt crisis
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superfrank
- Posts: 2762
- Joined: Fri Aug 14, 2009 8:28 pm
I enjoy comment from Tullett Prebon because they tend to have strong opinions and are not afraid to stand against the crowd or be bearish.
'After David Cameron’s dramatic decision to veto an EU-wide agreement on greater fiscal union for the eurozone countries, it now looks likely that all 26 other European Union (EU) members will try to hammer out a new deal without the UK.
But the question still remains, how on earth will it work? ... The realities of such a deal made it look nigh-on impossible.
This is because the 26-strong group would want to use the European Courts of Justice, the European Commission and all the other institutions that help govern Europe to give their agreement a sound legal basis.
And to use any of these, they would need the permission of all 27 EU member states. Without Britain’s permission, they’d be forced to set up a raft of separate institutions on their own.'
From http://blogs.channel4.com/factcheck/fac ... -plan/8760
Looks like Dave has thrown a spanner in the works of the European project!
Jeff
But the question still remains, how on earth will it work? ... The realities of such a deal made it look nigh-on impossible.
This is because the 26-strong group would want to use the European Courts of Justice, the European Commission and all the other institutions that help govern Europe to give their agreement a sound legal basis.
And to use any of these, they would need the permission of all 27 EU member states. Without Britain’s permission, they’d be forced to set up a raft of separate institutions on their own.'
From http://blogs.channel4.com/factcheck/fac ... -plan/8760
Looks like Dave has thrown a spanner in the works of the European project!
Jeff
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SilentDave
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No doubt they will just change the rules to suit themselves Jeff. Their lawyers will look into it and decide that they don't need all 27 to agree to changes or some such nonsense.
They've managed to ride roughshod over Western European democracies, including giving Italy and Greece unelected Prime Ministers, so I'm sure it's not beyond them to overcome that minor hurdle...
Jeff
Jeff
SilentDave wrote:No doubt they will just change the rules to suit themselves Jeff. Their lawyers will look into it and decide that they don't need all 27 to agree to changes or some such nonsense.
I wouldn't be so sure that there won't be serious problems for us in continuing access via the single market rules.In a speech in Marseilles yesterday, Mr Sarkozy called for a “real European industrial policy”, a revision of the EU’s single market competition policy and the imposition of trade barriers on Asian countries, such as China, with lower social standards. “I would like to see Europe stop allowing products to enter its territory that respect none of the rules we impose on our producers, our farmers and our stockbreeders,” he said.
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superfrank
- Posts: 2762
- Joined: Fri Aug 14, 2009 8:28 pm
oh dear. the French revert to (socialist) type.
Sarkozy does seem to be getting a bit desperate, maybe he knows the French are in trouble and will be next after Italy.
Sarkozy does seem to be getting a bit desperate, maybe he knows the French are in trouble and will be next after Italy.
EU treaty: David Cameron has done 'bad deal' on Europe, Nick Clegg says - http://www.telegraph.co.uk/news/politic ... -says.html
Odd that he waited two days before revealing his true colours!
Perhaps the outcome would have been different had Mr Clegg been at the Brussles talks, rather than tucked up in bed in Sheffield...
Jeff
Odd that he waited two days before revealing his true colours!
Perhaps the outcome would have been different had Mr Clegg been at the Brussles talks, rather than tucked up in bed in Sheffield...
Jeff
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superfrank
- Posts: 2762
- Joined: Fri Aug 14, 2009 8:28 pm
i don't know why Clegg is getting in such a pickle over this, his line should be that it doesn't make sense for the UK to be part of the treaty because we are outside the EZ (then express his long term wish that one day we'll be in the Euro and signed up to everything).
for Labour to criticise the decision is frankly laughable given that the treaty is about imposing strict deficit spending limits and their economic policy is about yet more deficit spending.
for Labour to criticise the decision is frankly laughable given that the treaty is about imposing strict deficit spending limits and their economic policy is about yet more deficit spending.
Quite!superfrank wrote: for Labour to criticise the decision is frankly laughable given that the treaty is about imposing strict deficit spending limits and their economic policy is about yet more deficit spending.
And AFAIK, although Milliband has whinged and whined about how Mr Cameron made a pig's ear of the negotiations, he hasn't said what Labour would have done!
Ten myths about Cameron’s EU veto - http://www.spectator.co.uk/coffeehouse/ ... veto.thtml
Jeff
Politically, I think it will work very well for the Tories.
The Lib Dems are going to be torn apart by this. Clegg has been extremely unlucky, in that
tuition fees and Europe have been such major issues. His early apparent acquiescence in
Cameron's move is not holding, unsurprising in such a pro European party. In fact, he's looking like a bit of a dork by starting to squeal now.
The coalition may well splinter and an election ensue, in near ideal circumstances for the
Tories. They must be tempted to try to force one.
I look forward to Labour Party workers explaining on the doorstep that yes, it is a good idea
for the Germans to approve our parliament's expenditure. In the longer term, it may well increase
the chances of Scotland becoming independent, and the death of Labour as a UK governing
party.
The outflanking by UKIP which probably cost the Tories an absolute majority in the last election
should no longer be much of a factor.
As for the longer term, I'm not sure that the British public goes for this top table stuff any more.
We may turn into a Singapore or a Switzerland, intone certain commentators. That's a bad thing? There may be a certain war weariness, a loss of interest in the world, we have after all had quite an influence for quite a long time, and a desire simply to make some money.
The Lib Dems are going to be torn apart by this. Clegg has been extremely unlucky, in that
tuition fees and Europe have been such major issues. His early apparent acquiescence in
Cameron's move is not holding, unsurprising in such a pro European party. In fact, he's looking like a bit of a dork by starting to squeal now.
The coalition may well splinter and an election ensue, in near ideal circumstances for the
Tories. They must be tempted to try to force one.
I look forward to Labour Party workers explaining on the doorstep that yes, it is a good idea
for the Germans to approve our parliament's expenditure. In the longer term, it may well increase
the chances of Scotland becoming independent, and the death of Labour as a UK governing
party.
The outflanking by UKIP which probably cost the Tories an absolute majority in the last election
should no longer be much of a factor.
As for the longer term, I'm not sure that the British public goes for this top table stuff any more.
We may turn into a Singapore or a Switzerland, intone certain commentators. That's a bad thing? There may be a certain war weariness, a loss of interest in the world, we have after all had quite an influence for quite a long time, and a desire simply to make some money.
I don't think it will, for the simple reason that the Lib Dems know that would mean armageddon for their party!payuppal wrote: The coalition may well splinter and an election ensue, in near ideal circumstances for the
Tories. They must be tempted to try to force one.
They might end up with fewer MPs than some of the Northern Ireland parties!
I'd take Switzerland's GDP per capita over ours any day...payuppal wrote:We may turn into a Singapore or a Switzerland, intone certain commentators. That's a bad thing?
Jeff
After this they are well f**ked anyway, IMO. Can't see how they will get their reputation back.I don't think it will, for the simple reason that the Lib Dems know that would mean armageddon for their party!
If the Tories can force an election, they will go into it at a time when many still blame the Labour Party for the economy, on an issue that they probably have 70% plus support.
Get it done, boys.
Labour are currently ahead in the polls, and if left-wing voters who were thinking of voting Lib Dem vote Labour because they want to avoid another coalition, then Labour could end up with a majority.
If that happens, then God help us!
Jeff
If that happens, then God help us!
Jeff
payuppal wrote: If the Tories can force an election, they will go into it at a time when many still blame the Labour Party for the economy, on an issue that they probably have 70% plus support.
Get it done, boys.