Banana republic politician does something right for a change

[Yeast Lord]

My god is this the first decision this stupid government has got right:

http://www.guardian.co.uk/politics/2010/may/09/ali...

Hats off to the man, he's actually acted in the country's best interests and not his own. Why the fk should we bail out bankers that have made mistakes and use speculators as scapegoats, it's bloody corruption at the second highest level. Greece lied about it's financials so it should go down for it.

[Fittster]

I wonder who will come to bail us out.

[andy_s]

Run away, run away...

[sjn2004]

anonymous said:

[redacted]

I don't think the current version of the Lisbon Treaty allows bailouts of Eurozone countries. They need to amend things before they can bailout Greece.

[br d]

anonymous said:

[redacted]

Who, you are Darling?

[Tangent Police]

sjn2004 said:

anonymous said:

[redacted]

I don't think the current version of the Lisbon Treaty allows bailouts of Eurozone countries. They need to amend things before they can bailout Greece.

Is this the case....?

If it is and there isn't some sort of dirty trick in the pipes they can pull, this is very interesting indeed. Where will they find out portion from?

Dig Blair out of the woodwork for a celebrity signing?

[Busa_Rush]

There is already a fund which we have contributed to which can be used . . . Darling NEVER says anything which doesn't benefit him or neu labia in some way . . . he lies when his mouth is open.

[Engineer1]

That's an easy decision for Darling, he won't be in office to stand by the decision and if he is the government will be so weak I doubt something so blatantly expensive would be passed.

[Funk]

Fittster said:

I wonder who will come to bail us out.

That was my immediate thought.

They seem to be proposing to use the 'EU budget' to support ailing economies - which we contribute to to the tune of millions. Can't see that coming back the other way when we need it..

[tinman0]

Yeast Lord said:

Hats off to the man, he's actually acted in the country's best interests and not his own. Why the fk should we bail out bankers that have made mistakes and use speculators as scapegoats, it's bloody corruption at the second highest level. Greece lied about it's financials so it should go down for it.

You've got to be joking right - our best interests?

The only reason he can't support Greece is because we have no money to support them in the first place!

[Andy Zarse]

Years ago, when Darling was in opposition during John Major's govt, I once found myself in a lift in the QEII conference centre with him and newsreader Peter Sissons. I can confirm his eyes are weird, little dead black pools of sadness with those bushy brows sat atop. He wiffed strongly of Kouros and was just slightly too trendily dressed for a potential Treasury wonk. Sissons was wearing a blue nylon Peter Storm kagoole, which didn't help things. It was as if I'd butted into a private moment between the two of them. Unsettling.

[speedyman]

anonymous said:

[redacted]

But didn't we "Buy" some of the Banks by putting in money to save them from collapse, seems like the same thing to me.

[andy_s]

I've not heard the 'not real money' argument before?

[Fittster]

The proposal, tabled by Nicolas Sarkozy in an emergency meeting late on Friday night, will involve the creation of a €60bn "European stabilisation mechanism" designed to provide bail-out support for countries which may face similar strain to Greece in the coming months.

It is thought to be focused particularly on Spain and Portugal, both of whose leaders fear an assault by "bond vigilantes" in the market who have scented weakness within the eurozone. The plan will have fiscal implication for all European Union countries, including the UK. The key element is an extension of an existing bail-out package, already used to support Hungary and Latvia.

This involves extending an already-existing Lisbon Treaty clause originally designed to provide cash for economies hit by natural disasters. Under this, the European Commission will borrow directly from markets, with its own finances guaranteed by EU nations – something which would leave the UK public finances exposed if a country fails to repay the loan. It could also impact the UK's credit rating.

The first element could be rushed through the summit without British approval, because the qualified majority voting system means Britain cannot strike down a plan that has the support of other major European nations. The second more far-reaching element may have to be passed unanimously by all European Union members.

[TheFlyingBanana]

I agree with Banana republics 100%.

[Fittster]

andy_s said:

I've not heard the 'not real money' argument before?

And maybe tonker would like to say if there was real risk.

[TheFlyingBanana]

Fittster said:

andy_s said:

I've not heard the 'not real money' argument before?

And maybe tonker would like to say if there was real risk.

Oh come on, surely you don't believe all the negative stuff that has been in the media about the banks? They never were in trouble, they had been run well and responsibly for years. The largest bonuses given were a nice box of Terry's All Gold and a bottle of Teachers, and they only lent to people, businesses and countries with impeccable credit ratings. Added to that, they never needed our money or guarantees, if the Government hadn't got involved they would have sorted it all out themselves in a few days and nobody would have been any the wiser.

Now I have to go as my taxi is waiting outside and I have to be back in the secure ward by midnight.

[mybrainhurts]

TheFlyingBanana said:

I agree with Banana republics 100%.

Are you a genuine Pratt...?

[TheFlyingBanana]

mybrainhurts said:

TheFlyingBanana said:

I agree with Banana republics 100%.

Are you a genuine Pratt...?

Clearly it was a joke... was that not obvious?

(Hint - look at my name...)

[Durruti]

Watch what they do, not what they say.

http://uk.finance.yahoo.com/news/darling-agrees-to...

Darling agrees to 10bn input....