So Much For £480 Million...

Thank God for Dave "cast-iron" Cameron eh? If it wasn't for him we would be paying considerably more to the EU on seriously nebulous grounds while public services are wound down to levels we can't afford rather than levels we hilariously could never afford in our lifetimes.


British taxpayers could be liable for up to £6 billion of Irish debt under a potential rescue package for the Republic's stricken economy, it emerged today.
Downing Street said the UK was responsible for 12% of a €60 billion (£50.94bn) stability mechanism that might be used in a bid to restore confidence in the Irish economy.

Yes I am aware that this was a bit of scorched earth policy that Labour put in to stick it to an increasingly compromised europhilic-in-europhobics-clothing Bory party, but it goes to illustrate just how un-erring our political masters are to the grand EU project; they are willing to pile on a few extra thousand on each of us for the moral hazard of absolving another nation of it's actions, all in the name if "ever closer union".

I am not even going to attempt to list what you could buy with this kind of money; if the left weren't so buried up the arse of the EU to see what a bad idea it is they would no doubt point out that that covers a fairly massive part of the welfare cuts proposed- the EU are quite literally taking money out of poor peoples hands & putting it in bankers in Ireland.


john b said...

I reckon there's absolutely no benefit at all to the UK in preventing the economy of our largest single trading partner from collapsing. I'm sure we're solely doing it to appease the Eurocrats, and that if we left Ireland to collapse then nothing could possibly go wrong.

Tomrat said...

John B,

So in order to keep £13.4Bn in exports we should hand over £6Bn to the Irish banks? We should accept a tariff of ~50%? Also why would allowing the banks to fail halt trade? Worse case they withdraw from the Euro, the government dissolves & the incoming one adopts a more stable currency (or better yet, adopt a Free Money system) and their exports drive them back into recovery.