Officials from both euro and non-euro countries said Britain should not ask for help if it runs into trouble because it had not signed up to a £378 billion support fund.
French, Swedish and many Brussels officials have predicted that it is only a matter of time before Sterling is hit by the same market turbulence that came close to destroying the euro at the weekend.
Jean-Pierre Jouyet, a former French Europe minister and the current chairman of France's financial services authority, yesterday predicted only "God would help" a rudderless Britain after it snubbed its euro zone neighbours.
"There is not a two speed Europe but a three speed Europe. You have Europe of the euro, Europe of the countries that understand the euro ... and you have the English," he said. (AtW's comment: surely that can't be right
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"The English are very certainly going to be targeted given the political difficulties they have. Help yourself and heaven will help you. If you don't want to show solidarity to the euro zone, then let's see what happens to the United Kingdom."
French bank BNP Paribas yesterday warned that the post-election fallout could lead to Britain's losing its high creditworthiness market rating, a move that could lead to a run on the pound. The UK is running an annual debt rate even higher than Greece. (AtW's comment: that's ok folks, Greece can't devalue it's currency because it is stuck into dirty euro zone who'd mount a massive bailout to save them, instead GBP can tank against major currencies to help "exporters" pull out the economy. )
Eurozone leaders and EU finance ministers meeting in emergency session last weekend prepared the bail-out as a financial crisis threatened to spread from Greece to engulf Spain and Portugal.
More here: Europe tells Britain not to ask for help in a crisis - Telegraph
French, Swedish and many Brussels officials have predicted that it is only a matter of time before Sterling is hit by the same market turbulence that came close to destroying the euro at the weekend.
Jean-Pierre Jouyet, a former French Europe minister and the current chairman of France's financial services authority, yesterday predicted only "God would help" a rudderless Britain after it snubbed its euro zone neighbours.
"There is not a two speed Europe but a three speed Europe. You have Europe of the euro, Europe of the countries that understand the euro ... and you have the English," he said. (AtW's comment: surely that can't be right
)"The English are very certainly going to be targeted given the political difficulties they have. Help yourself and heaven will help you. If you don't want to show solidarity to the euro zone, then let's see what happens to the United Kingdom."
French bank BNP Paribas yesterday warned that the post-election fallout could lead to Britain's losing its high creditworthiness market rating, a move that could lead to a run on the pound. The UK is running an annual debt rate even higher than Greece. (AtW's comment: that's ok folks, Greece can't devalue it's currency because it is stuck into dirty euro zone who'd mount a massive bailout to save them, instead GBP can tank against major currencies to help "exporters" pull out the economy. )
Eurozone leaders and EU finance ministers meeting in emergency session last weekend prepared the bail-out as a financial crisis threatened to spread from Greece to engulf Spain and Portugal.
More here: Europe tells Britain not to ask for help in a crisis - Telegraph
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