The Birth of a Two-Speed Europe

[SimonMac]

BBC News - Euro crisis: UK alone as Europe agrees fiscal compact

It seems that the basis is that the new accord is if a country has too much debt compared to their GDP they will issue a monetary fine to a country that already has no money!?

[Doggy Styles]

BBC News - Euro crisis: UK alone as Europe agrees fiscal compact

It seems that the basis is that the new accord is if a country has too much debt compared to their GDP they will issue a monetary fine to a country that already has no money!?

I thought it was deficit rather than debt but yes, that sums it up.

The irony is that they already had such a rule, the maximum allowed deficit being 3% of GDP, but it was never enforced because Germany was the first country to break it.

[lilelvis2000]

Anything that get the UK out of the massive (and expensive) bureaucracy that is the EU will be great. Anything that allows the UK to get out of the HRA will be a bonus. Anything that allows us to reasonably remove people who are here without leave will be just desserts.The UK on its own will be great.

But I wonder if DC really was thinking about all that. Or was he thinking about dozens of knifes in his back (some from bankers) if he didn't whip out the veto.

[scooterscot]

Protectionism shall not do us any favours whatsoever.