Thursday, 11 February 2010

They Like To Think Its All Greek

The question of Greece's financial problems remains unresolved, publicly that is, as all the EU will say is that they are ready to support Greece.

Twice Gordon Brown, at PMQs, refused to categorically answer the direct questions posed by Douglas Carswell and Gisela Stuart and even today is maintaining that it is a 'Eurozone issue'.

Yet the Reuters report states: "Euro area member states will take determined and coordinated action if needed to safeguard stability in the euro area as a whole" and Article 121 of the TFEU states: "Where a Member State is in difficulties or is seriously threatened with severe difficulties caused by natural disasters or exceptional circumstances beyond its control, the Council, on a proposal from the Commission, may grant, under certain conditions, Union financial assistance to the Member State concerned. The President of the Council shall inform the European Parliament of the decision taken."

Note the emphasis (mine) on the words 'euro area member states' in the Reuters article and the word 'Union' in Article 121. This contradiction, twixt statement and Article, bears out the paper produced by Open Europe and which as Helen, Your Freedom and Ours, states "Their summary also says that of the 10 possible ways of bailing out Greece, most are either illegal or probably illegal (with different Treaty Articles in conflict) and so the EU will have to break or, at least, bend its own rules."

It would appear that the EU is caught between the Devil and the deep blue sea - and you can be bloody sure that when the EU does jump they won't be getting wet, preferring to join their 'head honcho'!

1 comment:

James Higham said...

We all seem to be posting on this. I'll add this to the Further Reading.