France says Britain should lose its AAA rating

[BlasterBates]

Can someone explain how this has become the outcome?

DC said no to an EU contract to enable economic governance across all member states in order to save the euro. This was proposed and supported by the eurozone countries who wish to make it an EU wide issue and use the EU facilities to run it.
As the UK is not in the eurozone and does not want outside Governance of its finances it was quite right to say no.

The eurozone countries will now have to form a compact within which they can make decisions, but those decisions will not be EU wide unless they are proposed to the EU and are once again put up for a vote of all member states and the UK can veto any proposals it does not like.
The compact countries will not be able to enact restrictive legislation as that will be illegal under EU law.

The UK has lost no influence even if the europhiles would like to think so.

Could somebody please pick the holes in the above and explain where my interpretation of the situation is wrong?

I just want to point out that as UK is not part of the Eurozone it would not have been subject to governance of it's finances.

[DodgyAgent]

I just want to point out that as UK is not part of the Eurozone it would not have been subject to governance of it's finances.

In that case why did the EU want Cameron to sign a treaty that was to shore up the Eurozone?

[Arturo Bassick]

I just want to point out that as UK is not part of the Eurozone it would not have been subject to governance of it's finances.

That is part of the issue. According to all the press I have read about (and I know the press are not reliable) that is exactly what DC was asked to sign up for.
As I read it, the agreement would allow the eurozone to pick the pocket of any signatory state at will and could force them to pass their budgets to the commitee for approval.
+ the Tobin tax.

[BlasterBates]

That is part of the issue. According to all the press I have read about (and I know the press are not reliable) that is exactly what DC was asked to sign up for.
As I read it, the agreement would allow the eurozone to pick the pocket of any signatory state at will and could force them to pass their budgets to the commitee for approval.
+ the Tobin tax.

Nope there was nothing in the treaty last week that affected Britain, only if Britain decided to join the Euro.

They were trying to save the Euro, they don't care about what countries do outside the Euro.

No the dispute was that Cameron wanted safegaurds for the future. In case they decided to introduce a tobin tax. The tobin tax was not part of the treaty extensions at the summit last week.

[sasguru]

Nope there was nothing in the treaty last week that affected Britain, only if Britain decided to join the Euro.

They were trying to save the Euro, they don't care about what countries do outside the Euro.

No the dispute was that Cameron wanted safegaurds for the future. In case they decided to introduce a tobin tax. The tobin tax was not part of the treaty extensions at the summit last week.

Utter tripe. Do you just post random bollux for fun? Or are you just thick?

[doodab]

So your argument is essentially that we should have signed a treaty that was clearly inimical to our interests, then try to influence "ensuing developments"?
Clearly, there's a reason you're a not very successful itinerant IT jobber.

Oooh I forgot about the old "IT jobber" line.

My argument is that we should have influenced the content of the treaty, or at least made our conditions for acceptance clear, before the 11th hour.

[sasguru]

Oooh I forgot about the old "IT jobber" line.

My argument is that we should have influenced the content of the treaty, or at least made our conditions for acceptance clear, before the 11th hour.

Have to say the qualtiy of the Euro expats seems quite low.
We've got BB' last post which indicates a complete misunderstanding of, well, the whole issue
Scooter who just talks out hios arse.
And you, who seems to ignore the fact that DC did make it very clear weeks before that finanacial tax would be a show stopper but was ignored.

[doodab]

I can take it you have never run a P&L (profit and loss), that you think money grows on trees, that it is only ever the British that are in the wrong and that logic amounts to nothing more than "I would have thought"

I studied mathematical logic at university. That is how come I am able to tell your arguments are mostly unsubstantiated bollocks.

HTH

[sasguru]

I studied mathematical logic at university. HTH

You seem to have forgotten it.

[Mich the Tester]

tbh, given the amount of finger pointing going on in the EU right now instead of contructive work toward a solution, I'm beginning to turn a bit 'Eurosceptic' too