Skip to comments.U.K. to Eurozone Nations: We're Out, Good Luck
Posted on 12/08/2011 10:56:08 PM PST by tcrlaf
The 17 eurozone states and six other EU countries agreed early Friday to create a new treaty that will allow them to introduce stricter fiscal rules in the hope of containing a worsening debt crisis, but Britain's prime minister immediately threatened to block the new accord.
The failure to get agreement among all 27 members of the European Union at a summit meeting in Brussels reflected in large part a deep split between France and Germany on the one hand and Britain on the other. France and Germany are the two largest economies in the eurozone; Britain does not use the euro as its currency.
Britain's Conservative Prime Minister David Cameron said Friday "the institutions of the European Union belong to the European Union, belong to the 27" member states.
Cameron wished the eurozone nations luck in finding a solution to the crisis, which he conceded was in the interst of Britain, too, but said it was not in the U.K.'s interest to join the new treaty because he could not get special safeguards for the country's financial center.
(Excerpt) Read more at cbsnews.com ...
It isn’t working to Germany’s advantage NOW, but then that is because the Europhiles have tried to push the EU beyond what it originally was - a common market where goods could be moved round the continent relatively unimpeded. Nobody signed up for this “united europe” nonsense. In fact the peoples of Europe have consistently rejected the concept in numerous elections (the results of which, naturally, have been ignored). Now by trying to push through that which is simply not attainable they have brought about a massive economic crisis, and Germany is going to be left to hold the can.
What’s the difference between a Eurozone country and a member of the EU? Are the non-Eurozone countries lesser partners? UK have never been in the currency have they?
Can’t wait for farage to unleash against von rupoy this week!
Keep in mind one thing: The coverage we get of this we get on this side of the pond is the most shallow imaginable. Your post implies that Germany is, today, in great shape as far as general solvency and the state of its banks. Not so. Sure, in comparison to Greece, LOL. (What more need be said?!) But Germany is today no model of fiscal conservatism. Its’ banks are just about as hosed as the others.
But..but what about the ‘green shoots’ and, and the .4 drop in the jobless rate and the 1st time claims dropping 21,000 last week?
Obama and CNBC said things are better. They wouldn’t lie to us...would they?
For the life of me I cannot understand why, if we are to be the police of the world we cannot charge these Nations for the use of our "services" which protect them. It could be strictly voluntary with larger nations paying more, smaller Nations less and those who pay nothing being on their own if the SHTF.
Angie already said if this thing isn’t addressed it could lead to war.
I think you're joking with the question but just in case you weren't -- tiny Vatican City has no other practical choice but to use the prevailing currency of the surroundings, at least in today's world. No argument was made for joining and Vatican City is not a member of the European Union.
IOW the EU is tryng to have a means of kicking out bad comrades of the EU state.
hard to believe 23 states are this blind.
Scotland and Northern Ireland are part of the UK so it goes without saying you wouldn’t see them on the list
Britains of all stripes should be very thankful Blair and others couldn’t force the UK to dump the GBP for the Euro.
Cameron made the right move in saying no to the treaty, and to the “Robinhood Tax” that would really have stuck it to the Brits for problems they didn’t cause:
“UK Was Right to Say No to Treaty: Analysts”
“...Bill Blain, senior director of special situations group at Newedge, agreed that Cameron had done the right thing and added that the financial transaction tax had been used to make Britain a scapegoat for not getting a full treaty change through...
It’s a great way to blame Britain for the failure of 17 other Europeans agreeing anything, let’s not worry about it,” he said.”
And there it is for anyone that wondered about my tagline...
Not all members of the EU are members of the Eurozone (i.e. countries that adopted the Euro as currency which UK did not).
We (the UK) need to continue taking back what is ours.
Our American FRiends are probably not aware of the absolute nightmare that the EU is.
Imagine your worst nightmare, a powerful political body controlled by fanatical libs and socialists, better still, imagine the US joining a union with S American nations and Canada, being told it was an economic union, on the surface sounds good doesn’t it? Lots of benefits of trade to be had. However it evolves without you having a damn vote on it and being dictated on everything from financial policy to cultural policy, who can fish in your waters etc......it is an out of control Nazi inspired project that has almost destroyed my once great country. Merkel and Sarkozy can burn in hell, they are two evil pieces of crap as far as I’m concerned.
They have so much power over sovereign nations you have no idea, it is hell.
Hopefully this is the first step of its demise, Britain needs to assert herself, I didn’t think Cameron was the man to do it, I still have major doubts, but this is positive. He needs to realize the ball is in our court, we don’t need to ask for their permission, we should take back FULL control of our decision making sovereignty, take back fully what is ours and if they don’t like it tough, what the hell are they going to do, kick us out and bankrupt themselves?
I pray to god he sees sense and raids this Nazi socialist organization. Britain needs to lead the way once more or we are almost certainly doomed.
Fortunately the Cyclops (Brown) was for all his other faults, an Atlantacist and Eurosceptic who put enough obstacles in the way to stop Blair getting us into the Euro.
I doubt that there is anyone other than a few fanatical Euro-loyalists who could seriously suggest with a straight face that Britain should ever consider joining the single currency. Not even Labour are that stupid.
Although I do kind of wish they would campaign on a ticket of Europhilia. It would be total electoral suicide for Labour and that would truly be a cause for celebration.
As for the Lib Dems, I’m not quite sure I would want them to leave the coalition government just yet because that would trigger a general election and I’m not confident that the Tories would be able to win an outright majority. If I was, I’d be all for the Lib Dems quitting. IMHO its better for the Lib Dems to be part of a mediocre Tory government than see the return of Labour misrule...
Governments are like drug addicted teenagers, and taxpayers in Germany and the USA are like the parents who gave their drug addicted teenager a credit card. You know those credit cards are going to get maxed out to help out their buddies, since Greece, Italy, etc. are already broke. Our government is also irresponsible, but it can still borrow money.
While our own media has been superhalfassed in describing the EU troubles there are other sources doing a decent job. I don’t know what Direct TV has but we use Dish and there are three channels that have been doing a journeyman job reporting on the Eurotrash finances——Chicoms have CCTV9, The Germans have Deutche Welle, and Al Jazeera (English) has also done a good job. Their perspectives are totally different but X-checking their dope gives a pretty good sense of just how much trouble EuroSocialDemocrats are in.
she must have called Dominik Hasek a bum!
I believe Denmark was one of the later countries to join the common currency; they were part of the EU, but delayed giving up their currency.
Euroland already went begging to the US for help and a handout through the president and treasury who in turn instructed the Federal Reserve on what to do for Euroland.
The latest news is just minor details as US taxpayer monies have already been committed to Euroland via the IMF so to insure Euroland will not fail. Because US major banks have bet heavily on Euroland’s survival and these banks can’t survive another meltdown due to losing bets.
The stock markets are up because the new money will be looking for a place to park in, everything should be fine... for about a month.
The Euro as a currency and the EU was doomed to failure. Once a nation gives up its currency and central bank, it is no longer a nation. The lure of Nations joining is to be part of European Society, but now countries like Italy and Greece are learning the cost of this decision. Germany has basically installed Euro Statist in the parliaments.
A dollar may be theoretically worth the same across the continent, but in fact you can buy far more with a dollar in, say, Georgia than you can in, say, California.
I don’t know.
What is their reason for doing anything?
They puzzle me at times.
Ireland is part of the UK, as well, but they use the Euro.
Denmark has never joined the Euro, although it's a EU member. Euro membership was rejected in a referendum.
Bit of a howler there, I'm afraid...
No, it’s not.
I dont think Cameron had a lot of choice really. The UK is not pretty much completely a service economy - particularly financial services. The only thing keeping us afloat is the city of London stock exchange. There is absolutely no way that any British government can accept this proposal by Merkel and Sarkozy to institute taxes on financial transactions. It would finish us, and Cameron MUST know that.
But even a country as large, populous and economically powerful as the US cannot borrow money indefinitely. Sooner or later the creditors will come knocking on the door. Voters in all the Western powers just cannot seem to grasp this. They think the good times are here forever.
Yes that’s true, but its much more marked in Europe. I mean you would expect variations inside the US because of things like local taxation, and real estate, and housing costs, but the differences in Europe go as far as very basic commodities, like food, which can cost 2-3 times more in some countries than in others.
I see; thanks.
Ireland is part of the British Isles, but that’s a geographic distinction. It is not part of the United Kingdom. It is a sovereign country.
Absolutely, there is no doubt he had no choice but to take this action.
i din’t think Cameron or anyone in the UK has to do anything, other than prepare for disintegration across the channel. That’s what they are doing.
Cameron isn’t a real conservative but at least he is not a euro-fetishist like ken clark or heseltine.
The eurosceptics were totally right about the flaws in the euro. Those flaws are going to destroy the euro and the EU. (And on top of their sovereign debt problems, the eurozone has a massive eurodollar banking crisis as well).
Eurofailure is overdetermined. All the UK has to do is brace themselves for the fallout.
probably don’t see scotland or northern ireland or wales since westminster handles foreign relations for all of them as the UK.
Exactly. And yet administrations from both parties love to give bailouts with borrowed money, and congress follows their lead. I believe that the Obama "stimulus" bill contained authority for Obama, or whover is POTUS, to bail out banks (in Europe or whereever) without any congressional approval. And then there is the IMF. They have so many ways to keep screwing us, but Obama says raise tax rates so everybody will "pay their fair share."
Germany is winning this one without a shot being fired.
Hey, I’m sure the explosion/implosion will be timed to coincide with Christmas, since most of the God-less elites do so HATE Christmas, Christians and Jesus Christ.
Thank you. It’s the Republic of Ireland. I don’t know what I was thinking.
I visited Ireland and N. Ireland several years ago. Ireland is absolutely beautiful, and I would love to visit again.
However, it was N. Ireland that made a lasting impression with me.
I’ve been to Ireland but not Ulster. My dad was there throughout the early part of “the troubles”. He said it was a bizarre place.
My ancestors are from Ulster, so this trip...shortly after taking a day trip to Belfast was akin to taking a day trip to Baghdad...was a real eye opener to the “troubles” that had plagued them for so many, many years.
If you are ever, again, in that part of the world, I would highly recommend a trip to Belfast, if only to get a taste of what terrorism looks like. I’m not taking sides...it was horrible for both sides. Sinn Fein still has a headquarters there, and the murals around the city tell the tale of the struggles that both sides have had.
We had lunch upstairs across the street from the most bombed building in Europe...the Europa Hotel. It was the Crown Bar, and the food was fantastic. I was raised on cheese and pickle sandwiches, but this is the only time I’ve seen them on the menu. It was absolutely delicious! The pub downstairs is very old, and beautiful. The tables had wooden walls around them so that, a long time ago, the women would be able to frequent the bar, and have their identity hidden.
It is a very interesting city. I believe the Titanic was built there.
Oh...you are from the UK!
So nice to make your acquaintance!