[jaysay]

Originally Posted by Acrylic-bob

Considering that Thursday's summit was supposed to solve the sovereign debt crisis affecting not only Europe, but the whole global financial system. It seems strange that all anyone can talk about is Britain saying "NO". Especially given that the decision to press ahead with treaty change, either with or without Britain, had already been taken by the Fuhererin and her court dwarf days before the summit took place.

It strikes me that all this hoo-hah and stage managed outrage is masking something. There is something that was decided on Thursday night that the Fuhrerin does not want people to notice. What was anounced was nothing more or less than a re-presentation of the Maastricht Stability Pact. Which, given that they all effectively ignored and broke it the first time round, begs the question of why they would think anyone would be convinced by it at a second run around the block. Perhaps the Germans think that everyone is as economically illiterate as they appear to be. Maybe they are right.

One of the things that was decided on Thursday night, which very few have commented on, is that the EFSF will now be constituted and run by people who are totally immune from prosecution - for any action they take. They will not have to pay taxes on their earnings and they will not be subject to any outside scrutiny whatsoever. Additionally, they will have the power to issue demands to member countries for whatever amount of money they choose and members have just seven days to make it available - in full -or else! There is also to be no accountability of how they choose to disburse the money they raise.

On the whole, I think that The PM was right to say "NO". To paraphrase Groucho, I am not sure I would want to be a member of any club that had these jokers as members. Though I am certain that the stated reasons for his "NO" were a cover for his real agenda. It nevertheless will have the unintended consequence of making an 'IN-OUT' Referendum harder to resist.

It is going to be an interesting couple of weeks.

Expect some big surprises just after Christmas.

Good post Bob I just hope I get my surprises on Christmas day though