UK 'planning for eurozone collapse'
Lord Sassoon said Britain wanted to see a 'strong and dynamic' eurozone and European economy
The Government is undertaking "extensive contingency planning" in the event of a eurozone collapse, peers have been told.
Treasury minister Lord Sassoon said the planning was aimed at dealing with "all potential outcomes of the eurozone crisis".
At question time, he said Britain wanted to see a "strong and dynamic" eurozone and European economy.
But he stressed it was for the eurozone countries to "take the lead in supporting the euro as a currency".
Lord Sassoon also indicated that Britain would be prepared to stump up more cash to tackle the crisis if the IMF requested it.
"The Government sees the role of the IMF to support individual countries and not to support currencies.
"If the IMF puts forward a case, as it may well do, for an increase in its resources, if there is a strong case the UK will, as it has always done in the past, support the IMF in increasing resources as required," he said.
Tory former chancellor Lord Lawson of Blaby said: "There is only one thing as worrying as the collapse of the eurozone and that's the continuation of the eurozone."
He said it has been shown to be "fundamentally flawed and the cause of all these problems".
Lord Lawson said ministers needed to look at the risk of a banking meltdown, adding: "If it should prove necessary for the UK Government to rescue any British banks, they should do so on much tougher terms than the ludicrously soft terms which the previous administration used."
EU OUT ,
EU OUT,
EU OUT,
EU OUT,
EU OUT,
HOW DO THEY LIVE WITH THEM SELVES.
I ALWAYS SAID TONY BLAIR DID ALL THIS FOR A REASON WHEN HE WAS PRIME MINISTER, HE WAS THE PUPPET TO PUT THE BUILDING BLOCKS IN PLACE. SOON GOT HIM OUT THE COUNTRY THOW DID,NT THEY. SO WHAT IS HE REALLY DOING ABROAD, VERY SILENT IS,NT HE, YOU NEVER HEAR OF HIM NOW.
THIS MAN IS GUILTY.
BANKRUPT ????????
MMMMMMMM REALLY THEN HOW COME WE HAVE MONEY TO BUILD A BRAND NEW RAILWAYS SUPER FAST LINK, AND JUST TODAY AN INTEREST IN A £50 BILLION POUND AIRPORT.
THANKS MP,S FOR PUSHING THE KNIFE IN A BIT DEAPER, THANK YOU FOR JUST USING ME ANYWAY YOU SEE FIT, EVEN WHEN YOU ARE JUST A HUMAN BEING LIKE ME, YOU ARE NOTHING MORE, SICK OF THIS BLOODY COUNTRY. UK HAS BECOME A DICTATORSHIP FROM THE TOP DOWN.
SICK OF THE BLOODY EU,
ITS TIME YOU PULLED UP YOUR BOOT STRAPS, AND STOP BEING SO BLOODY GREEDY.
I ALWAYS SAID THE EU COULD NEVER BE TRUSTED, IT WAS ONLY IF YOU CAN IMAGINE A BIG FAT PROFIT MAKING MACHINE AND NOTHING MORE, AND NOW YOU SEE WHERE GREED GETS YOU, WHEN YOU BRAIN IS MOVING FASTER THAN WHAT YOU BODY WILL ALLOW, THAT IS WHY THERE IS SO MUCH ANGER ABOUT AND STRESS, WE ALL KNOW THEY LIED ABOUT THE GOOD TIMES AND THE EU, EVEN THE ONES THAT SAID ITS A GOOD THING, IT NEVER WAS. IT WAS A GOOD SCAM TO THE UNKNOWING, BECAUSE THEY COULD PLAY AROUND WITH THE WRITTEN POLICY AND CUT AND CHANGE IT AS IT SUITED THEM AS THE YEARS ROLLED BY, ALL IT DID DO WAS CREATE MASS WAR AND FALL OUT AMONGST THE HUMAN RACE, AS YOU CAN SEE DAY IN AND DAY OUT, I THINK THAT IS WHAT THEY REALLY WANT.
SUCH A SHAME, YOU WERE GIVEN THE CHANCE TO BE GOOD HUMANS AND INSTEAD YOU REPLACED IT WITH GREED AND MANIPULATION OF THE HUMAN BRAIN FOR PROPAGANDA PURPOSE,S. THE PEOPLE ARE STARTING TO TURN ON GOVERMENTS BY THE BOAT LOAD, WE HAVE HAD ENOUGH OF MPS AND PRESIDENTS AND WHAT EVER TITLE THEY CHOOSE.
LOOK AT THE UK, WE HAVE NO MONEY WE ARE TOLD. BUT WE CAN GO AHEAD AND BUILD A NEW RAILWAY LINE AND NOW AN INTERST IN A 50 BILLION POUND AIRPORT, DO THEY REALLY THINK WE ARE THAT STUPID AND BELIEVE EVERYTHING WE ARE TOLD BY THESE ROTTEN GITS. WE NEVER LEARN FROM THE PAST, WE ONLY MAKE IT WORSE, AND IF IT CARRYS ON THEY WAY IT IS. THE PEOPLES ANGER IS GOING TO BOIL OVER, YOU CAN FEEL IT IN THE AIR.
PEOPLE HAVE HAD ENOUGH OF POLITICIANS, NO MATTER WHO IS IN POWER. YOU CAN,T BE TRUSTED TO DO THE RIGHT THING IN LIFE. SICK OF LIES FROM MPS, JUST SICK OF EEMMMM TOTAL.
barrie (bazzee boy)
you are wrong ted heath asked the british public if we wanted to join the common market ,not the european union. i don't know if you know but when the french president called de gaulle was asked many years ago if he would accept the brits into the common market his answer was non. he did us a great favour but as the years went on we were asked the question in 1974 if we wanted to join the common market and the brits by a majority said yes i was one of the majority i wish now looking back that i had said no because what has followed is the european union which is a club that i believe that we can not afford to leave ,but we should give the europeans the 2 finger salute,as we have given up too much of our sovereignty altogether,david jason said a week or so ago that the germans tried to dominate us twice in the last 100 years and failed twice but they will dominate europe whether we like it or not .
Someone
You are confused. The UK is in the EU, but not in the eurozone. I'd welcome the day when we're out of the EU too.Ted Heath took us into the old 'Common Market', for which he can rightly be blamed, but I doubt he could have envisaged what it would transform itself into - largely without the approval of the ordinary folk living in the constituent member states.
Whatever the "Government" decide to do, I can guarantee one thing, the hard working tax paying public such as myself and my wife will have no referendum or say in the matter (as usual!!).It is easy to spend other peoples money.If alex salmond wants independance he should adopt the euro and we should close down every army navy and RAF base down north of the border and move them to England and Wales.Re-building hadriand wall may not be a bad Idea too.I am not anti- scottish,I work with and respect a scottsman,but mr salmond is writing cheques his country cannot cash.The UK is a small but wonderfully diverse country and we should leave the European Union and work together to restart the dying manufacturing industry and make great britain GREAT again.The 650million we send to india would be a good start,the multi millions we send to Europe every year would also help,not to mention Bankers bonuses (who the tax payer bailed out) and MPs expenses which they still claim but have managed to hide with credit/debit cards etc.Oh and going back to salmond,can the taxpayer have their share of the bail out money from the taxpayer to thr royal bank of scotland.CHARITY BEGINS AT HOME.
Wes Leonard
And Wes Leonard has some extremely salient points. Why are we contributing billions of pounds into countries with either despotic or corrupt leaders? The countries are poor, but generally because those same leaders to whom we give our money, are already fleecing every cent for their own ends. The funds just do not enrich the lives of the people under their oppression. And...why are we giving India £650 million each year? The country has a nuclear weapons development project far greater than ours even, plus it is also financing its’ own space programme. Why give them a penny?
Moreover, inside 100 years, every single one of the countries we’ve thrown our much needed cash at, will be at war with us and why? Because the compounding population growth of the world is on collision course with the limited resources available. In time, we will be fighting for food, water and minerals. Oil will have run out and land will be in short supply.
As a supposedly developed country, can anyone tell me why essential services such as the RNLI, Air Ambulances, Cancer Research, Macmillan Nursing and a host of support services to the disabled or terminally ill, rely solely on fund raising and charity? Why aren’t our taxes being used to support these projects, rather than being flushed abroad?
Barrie (bazzee boy)
The Euro zone may well have been conceived by European Socialists but it was a Conservative government led by Ted Heath who took us into it, so who really is to blame for the mess we are in know?? and the only reason socialism does not work is because there is an opposite called Conservatism.
As Lawson says, the Eurozone was fundamentally flawed from its inception. It may have been possible for it to function, albeit poorly, if only 3 or 4 of the EU'S richest nations were in the eurozone, but the inclusion of nearly twenty countries with widely differing economies [including some already in dire straits] means that it is inevitably doomed. It's failngs have already caused immense problems globally and when the eurozone collapses it will cause further damage to the global economy.
You don't have to go as far as Greece to see the havoc caused by the EU's meddling in the finances of its member states. The so-called 'Celtic Tiger' boom in the Republic of Ireland was enabled by the pumping of vast sums of subsidy money into the Eire economy. That was fine when Eire was the poorest amongst 6 or 7 member states, but when several other poorer nations were allowed into the EU, Eire had to start giving rather than receiving and its economy, built on the false foundations of EU subsidy, fell down like a house of cards.The Eire economy, like many others, will take years to recover; migration, thought to be in the troubled past, is a fact of life once more in the Republic.
But you can bet your sweet life that none of the architects of the EU folly will starve !
If the UK is already wrestling with internal financial problems, do we really need to be giving more money to the IMF?
We need to concentrate on keeping our economy as strong as possible, for our own people.
Dumping more money into the IMF seems simply to be even more of a waste now than ever before.
"There is only one thing as worrying as the collapse of the eurozone and that's the continuation of the eurozone."
The EU thing was concieved by socialists (unelected) and a SOCIALIST government (remember GORDON) committed us to the LISBON treaty in a backroom and surprise surprise what have we got - a monumental shambles that nobody appears capable of resolving.
Do we need any more convincing that SOCIALISM doesn't work no matter what anybody says or thinks.
The Euro was a folly. Created to massage the already over-inflated egos of our 'beloved' european tsars, its purpose was to write names into history. Clearly, any student of basic economics could see it could never work, on many, many obvious levels. We, the hard workers on avarage incomes, will pay for this ridiculous venture, whilst those responsible will laugh in our faces as they continue to draw their staggeringly high salaries and their subsequent huge pensions. It would be great to say 'thank god we didn't enter into the farce', but we are as liable in digging it out as Greece....except Greece won't have to because the only money it has is ours anyway.
People should hang for this outrageous and inept project.
