Friday, 9 December 2011

I'm stepping outside, look after the pound for me - Cameron.

During Prime Minister's Questions on Wednesday David Cameron answered the first two questions like this:

The British national interest means absolutely that we need to help resolve this crisis in the eurozone. It is freezing the British economy, just as it is freezing economies right across Europe. Resolving this crisis is about jobs, growth, business and investment right here in the UK. At the same time we must seek safeguards for Britain. That is the right thing to do.

Then to Ed Miliband's first question:

we will have the key aim of helping to resolve the eurozone crisis, and we believe that means European eurozone countries coming together and doing more things together. If they choose to do that through a treaty at 27 in which we are involved, we will insist on some safeguards for Britain—and, yes, that means making sure we are stronger and better able to do things in the UK to protect our own national interests. Obviously, the more countries in the eurozone ask for, the more we will ask for in return, but we will judge that on the basis of what matters most to Britain.

Now today the answer to the crisis the one that Cameron said was about ' jobs, growth, business and investment right here in the UK' was one that he and he alone couldn't get involved with. Apparently it was over regulations of the banks that the problem arose.

Now as a Lib Dem we praised Vince Cable on calling for more regulation of the banks well ahead of the crisis that kicked in. We shouted about the lift of regulations on banks under Labour. Indeed in our manifesto we said we would :

Work through the European Union for stricter international regulation of financial services and banking.

Because here is the thing Mr Cameron there is no such thing as a purely UK Bank bank anymore. They all have interests overseas, or are the UK Interest of an international bank. Therefore Cameron has thrown out the bath water, baby and all to spite his face. There will be discussions going on that the UK will be excluded from that will affect the UK Banking sector that we will not have any control over.

As for the aim of securing the EU, these talks in Europe were to agree to explore the possibility of working together. The details have yet to be thrashed out. Mrs Thatcher even when she disagreed about the move to a Single Market did stay in there and thrash out the details she could live with over Maastricht and other Treaties. David Cameron has put the UK so far on the outside that we're not even sure if we'll get the jobs, growth, business and investment that he's looking for. We're not even sure if our largest trading partners the rest of the EU are going to be allow such investment.

It's almost like the EU are sitting in Scotts camp on his return from the South Pole with 27 in the party as a blizzard blasts outside. But out into Hurricane Bawbag steps David Cameron with the words, "I'm stepping outside, look after the pound for me".


  1. And Cleggy agreed with Cameron so we are told

  2. Doesn't mean that I agree with Nick on this if that is the case.