EU leaders met today, October 26, 2011, in an emergency summit held in Brussels, to thrash out a plan which will include a boost to banks. French leader Nicolas Sarkozy may have wanted to limit those involved in the debate to the Eurozone countries leaders but in the end all 27 EU countries had their say. The UK may not have the Euro but it stands to lose out big time if the EU goes under. That said so do many other countries. Linking all these countries in such a way may have seemed a good idea in those heady days of yesteryear, when the world was "booming", now that it is almost "bust" it is a different story.
The general idea seems to be that they will boost powers of the bank bailout fund 'several fold'. The draft statement said, "Further enhancements to the EFSF, European Financial Stability Facility, and its resources are possible through cooperation with the IMF."
Today's summit is to be followed by an evening working dinner but only the 17 nations who have the Euro as their currency will attend this. Wonder who is paying for all of this chit chat and fancy dining out? EU leaders have met 20 times already this year to try and thrash out a way forward from the current financial crisis.
UK Prime Minister David Cameron has again reiterated that he was "glad" to attend the emergency summit. Again he has said that directly or not what happens in the Eurozone has a marked effect on the UK and its economy.
One cause for concern is an EU finance ministers meeting which has been cancelled. Sky News said, "The postponement of the EU Finance Ministers' meeting is being downplayed by governments. But it doesn't look good when you consider that it was the meeting intended to thrash out the detail to leave the leaders free to concentrate on the broader aspects." True it does not.
As Nicolas Sarkozy and David Cameron shift onto less amicable terms many in the UK will not be surprised. It was always felt that France kept the UK out of the EU, at a time when it would have been beneficial to join. By the time we signed up, the Common Market had already had its day.
France it seems is up to the same old tricks. When it suits it wants the UKs input. Other times it wants to keep us knocking at the back door.
Today's summit is to be followed by an evening working dinner but only the 17 nations who have the Euro as their currency will attend this. Wonder who is paying for all of this chit chat and fancy dining out? EU leaders have met 20 times already this year to try and thrash out a way forward from the current financial crisis.
UK Prime Minister David Cameron has again reiterated that he was "glad" to attend the emergency summit. Again he has said that directly or not what happens in the Eurozone has a marked effect on the UK and its economy.
One cause for concern is an EU finance ministers meeting which has been cancelled. Sky News said, "The postponement of the EU Finance Ministers' meeting is being downplayed by governments. But it doesn't look good when you consider that it was the meeting intended to thrash out the detail to leave the leaders free to concentrate on the broader aspects." True it does not.
As Nicolas Sarkozy and David Cameron shift onto less amicable terms many in the UK will not be surprised. It was always felt that France kept the UK out of the EU, at a time when it would have been beneficial to join. By the time we signed up, the Common Market had already had its day.
France it seems is up to the same old tricks. When it suits it wants the UKs input. Other times it wants to keep us knocking at the back door.
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