Irish referendum and euro bailout challenge

 
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18TH MAY 2012                         THE REALITY BEHIND EUROPE                                      MONTHLY £3.50

            Irish referendum and euro
                 bailout challenge
                                               Anthony Coughlan

T
        he Republic of Ireland is             Ireland’s principal political parties    Germany and France it will have it
        holding a referendum on the so-    are as usual on the referendum Yes-         ratified by July.
        called “Fiscal Treaty” for the     side. They call the treaty the “Stability      The ESM Treaty in turn depends for
Eurozone on the 31st May. The treaty’s     Treaty”. For the No-side it is the          its validity in EU law on an
proper name is “Treaty on Stability,       “Permanent Austerity” Treaty. It is not     amendment to an article in the EU
Coordination and Governance in the         stability the Republic needs, but a         Treaties, Article 136 TFEU, which
Economic and Monetary Union”.              rebellion against the euro-currency.        also has still to be approved by Ireland
    This treaty, which Britain’s David     The Europe of Freedom and                   and most other EU States. This
Cameron sensibly decided to have           Democracy Group in the EU                   amendment by the 27 EU Member
nothing to do with, requires the 17        Parliament to which UKIP belongs is         States permits the 17 Eurozone States
Member States of the Eurozone to run       sending a colourful brochure to every       to establish a Stability Mechanism if
balanced budgets in perpetuity.            Irish household telling voters that the     that is needed “to safeguard the
Germany’s Chancellor Angela Merkel         best way out of the Republic’s mess is      stability of the euro area as a whole”.
insisted on it in order to be able to      to default on the huge private bank            But what the ESM Treaty proposes
assure German voters that the              debts which the ECB has insisted on         looks like being in breach of EU law
peripheral countries of the Eurozone,      loading on to Irish taxpayers, to leave     and therefore of the Irish Constitution
the so-called PIGS, will avoid public      the euro, devalue a restored Irish          which must enforce EU law. It would
deficits in future which would erode       pound and thereby restore the               set up a new Eurozone Institution, the
confidence in the euro-currency. If the    Republic’s economic competitiveness.        ESM, of which the 17 Eurozone States
“Fiscal Treaty” is ratified, Keynesian-    Nigel Farage, Roger Helmer, Paul            become “Members”. This will have a
style public spending to counter           Nuttall and other EFD MEPs were             fund of €700 billion at its disposal
slumps in domestic economic demand         widely welcomed when they came to           to lend directly to Eurozone
will henceforth be constitutionally        Ireland with this message.                  Governments in trouble, thereby by-
forbidden across the Eurozone.                The main Yes-side theme in the           passing the ban on sovereign bailouts
    The Irish Republic made the biggest    referendum is that if people do not         in Article 125 TFEU of the existing EU
mistake in its history when its ultra-     vote for the “Fiscal Treaty” they will      treaties. Having failed to obey the 3
Europhile political class pushed it into   be denying themselves access to the         per cent and 60 per cent of GDP
adopting the euro. The one-time            €700 billion permanent loan fund for        “excessive deficit rules” set out in
“Celtic Tiger” now has 15 per cent         the Eurozone when this is established.      those treaties, Germany and France are
unemployment, 10 per cent of house         This fund does not yet exist. It is to be   now proposing to put the EMU on an
mortgages are three months in arrears,     established by means of another Treaty      entirely different basis than hitherto by
national output is down one-tenth on       between the 17 Eurozone States, the         means of this ESM.
four years ago, its banks are not          European Stability Mechanism Treaty            They are seeking in this way to by-
lending to its domestic economy, youth     (ESM). This ESM Treaty has yet to           pass the rules of the current EMU and
emigration is high and its financial       be ratified by Ireland. The Irish           carve out a legal path to what French
a ffairs are being run by a troika         Government intends to bring it before       President Nicolas Sarkozy has called
representing the European Central          the national parliament, the Dáil, for      “A Federation for the Eurozone and a
Bank (ECB), the Brussels Commission        ratification in June once this              Confederation for the rest of the EU”.
and the IMF.                               referendum is over, for it has promised                         Continued on page 3

INSIDE: EU set aside p 2 – ‘Robin Hood’ tax p 2 – IMF funding p3 – Eurozone unemployment rises p 3 – Mayoral proposals
rejected by the English p 3 – EU: Foreign Ministers meeting? p 4 – Sign Treaty or pay fine! p 4 – Spanish woes continue p 4
– Anglosphere tops world league tables p 5 – China gets further advice on its economy p 5
                                                                                                                    VOL 17 NO 9
EU set aside
S
       peaking during a recent debate     made to set aside perfectly good           Commission understands that it is
       in the European Parliament’s       farmland as part of the EU’s ‘greening’    going to hit farmers in the UK much
       Agriculture Committee on the       measures. “On my farm, 7 per cent          harder than anybody else. If grassland
impact of greening proposals on           would be 28 acres. I can find about 10     farmers plough up just 10 acres for
farming, Stuart Agnew MEP and             acres out of ponds, pits and hedges,       some barley, they are going to have to
agriculture spokesman for the UKIP        etc, but another 18 acres, which is a      have three crops where they ploughed,
has ridiculed the EU’s claim that         field, is going to have to come out of     which is highly inconvenient.
setting aside farm land can influence     production. That means an empty               “Small arable farmers, most of
the climate. Mr Agnew told the            field. All the farms around me will        whom get other farmers to farm the
Committee: “These measures are            have fields like that too.                 land for them, have, until now, had the
supposed to be ‘executable and               “Meanwhile, I have got to feed          whole thing blocked out with one crop,
verifiable’. How can you prove that       35,000 chickens and they eat wheat.        with a different crop planted each year
anything we do is going to change the     Wheat is going to get more expensive,      to achieve the rotation. It is going to
climate? You are chasing fairies. We      which ultimately translates into higher    be very inconvenient for them too. It
are not going to change the climate.      egg prices for the consumer. I think       will mean a lot more road journeys for
We respond to changes in the climate.     this whole idea is scandalous.”            contractors. The whole thing is
That is all we can do.”                      Mr Agnew also made clear his            nonsense. The three hectare threshold
   He went on to described it as          opposition to the EU’s interference        should be at least ten times as high.”
“scandalous” that farmers are being       with crop rotation: “I don’t think the

                                          ‘Robin Hood’ tax
T
       he EU is using its usual wall of      The money would be raised through       as the ‘City of London’ would be
       mirrors to try and bring in the    a 0.1 per cent tax on stock and bond       paying in the lions share. The lose to
       ‘Robin Hood’ tax.                  trades and 0.01 per cent on derivatives.   the UK would be around £21 billion,
   A suggestion by the Commission         The money raised would then be             and unless this tax was adopted on a
that EU countries could save billions     distributed, one third going to national   global basis the UK financial sector
has been put mentioned.                   budgets and two thirds (€54 billion) to    could be driven outside the EU.
   Although the UK and Germany are        the EU budget.                             Cameron also said that it would be
split on the Financial Transaction Tax       A statement was quickly released by     used by other countries as an excuse to
(FTT), the idea is getting growing        the UK saying it “completely refute(s)     get off their foreign aid commitments.
support across the EU. The EU             the suggestion” that it would benefit
Commission in March said that EU          from an European Union FTT.                    By the end of this year the proposed
Member States could pay 50 per cent          This transaction tax was core to the    increase in the EU budget has to be
less into the general EU budget by        commission proposal for the next           agreed, originally put at 5.0 per cent,
2020 if they agree to implement the       multi-annual budget (2014-2020)            but recently a figure of 6.8 per cent has
FTT.                                      unveiled in June last year. Member         appeared.
   In a last-ditch attempt to undermine   states reacted negatively to the               As always with the EU, part of the
government opposition to both this        transaction tax and budget increase        budget negotiations will also include a
specific ‘Robin Hood’ levy and the        proposals.                                 stronger role for the European
general idea of Brussels raising taxes,      EU commission President Jose            Parliament.
EU budget commissioner Janusz             Manuel Barroso said that when                  A group of nine member states has
Lewandowski has put some concrete         member states see in “concrete terms”      said it wants to press ahead with the
savings figures on the table.             the savings that can be made “some         FTT on its own (which would remove
   The Commission has estimated that      who have been sceptical will probably      it from the commission’s grasp) while
Germany would pay €10.7 billion less      change their position”.                    Germany and the UK and others have
to the EU budget by 2020, Poland €1.8        Lewandowski, for his part, said         said the budget should not increase
billion, Italy €6.4 billion and Latvia    there has been a “change” in member        beyond inflation.
€81 million. They have also implied       states’ thinking on Brussels raising           The FTT is supported by many
that the UK, the Netherlands and          taxes. He went on “We are coming           MEPs who are hoping for growth and
Sweden - the strongest opponents of       with some striking figures to assist the   further spending policies and are also
the FTT - would save €7.6 bn, €2.6 bn     debate”.                                   very keen on spending more. The
and €1.6 bn respectively. Furthermore        The UK according to David               report by the European Parliament for
by 2020, these total savings could        Cameron and many economists would          an increase in its budget last June was
amount to €81 billion.                    be the loser in this system of taxation    also supported by the parliament.
PAGE 2                                                                                               eurofacts 18TH MAY 2012
Irish referendum and bailout challenge
Continued from page 1                       amendment procedure than that which         There are constitutional challenges to
The ESM is intended to be the Bank-         is currently being used.                    the ESM Treaty in Germany and
cum-Finance Ministry of the Eurozone                                                    Estonia also.
Federation the Franco-Germans are              An Independent member of the Irish          The Pringle case could well make
envisaging,       with       themselves     Parliament, Thomas Pringle, who             Ireland’s current “Fiscal Treaty”
effectively in charge of it.                represents County Donegal, is now           referendum the prelude to a further
   Yet monetary policy for the              challenging the legality of this Article    Irish referendum on a much more
Eurozone is “an exclusive EU                136 TFEU amendment and the ESM              important issue - the €700 billion
competence” under the existing              Treaty which it authorises in the Irish     permanent bailout fund for the euro-
Treaties. A sub-group of EU States,         Courts. Pringle contends that there         currency on which that inevitably
the 17 Eurozone Members, has no legal       needs to be a further referendum in         doomed project which has inflicted so
entitlement to take the Economic and        Ireland on both of these proposals if       much misery on so many is currently
Monetary Union captive in this way          they are to be adopted in accordance        relying on for a further lease of life.
and superimpose a fiscal union on top       with the Irish Constitution.
of the monetary union. Or if they are          This has become a big issue in the       Anthony Coughlan is Director of the
to do that lawfully, then the Article 136   “Fiscal Treaty” referendum. Pringle’s       National Platform EU Research and
TFEU amendment on which they are            constitutional challenge puts a legal       Information Centre, Dublin, Ireland
relying needs to be adopted on the          question-mark over the €700 billion         and Professor Emeritus in Social
basis of a different EU treaty              rescue fund for the euro-currency.          Policy at Trinity College Dublin.

                                               IMF funding
T
        he International Monetary Fund      loans worth £38 billion, while also         eurozone countries including Greece.
        (IMF) begging bowl continues        saying that it expects other countries to      The UK government has not yet told
        to be passed around, seeking        contribute. The UK government has           us the interest rate it will receive, but it
extra cash from its members to shore        chipped in a further £10 billion from       has confirmed that no country has yet
up its finances and to help with            the UK’s hard-pressed taxpayers’.           lost money by loans to the IMF, let’s
problems caused by the Eurozone debt           As the debt crisis has been              hope we are not the first!
crisis.                                     increasing, the IMF has been providing         Is this a wise us of our money during
   Japan has agreed to give the IMF         emergency funding to some of the            a recession, only time will tell.

                         Eurozone unemployment rises
U
         nemployment in the eurozone        month of April, the private sector          in nearly three years and is the fastest
         area has risen to a level of       shrank by more than was initially           fall since October last year. The
         10.9% according to Eurostat,       suspected according to a recent survey.     reductions according to Markit were
this is the highest level since the euro       The survey carried out by the Markit     due to a weak manufacturing exports
was launched in 1999.                       eurozone composite          purchasing      and a marked decline in new business.
   The figures show that 17.4 million       managers’ index (PMI) has dropped to           Meanwhile, unemployment rate in
people are now looking for work, of         46.7 from the March level of 49.2. (A       the eurozone’s three-largest economies
these more than 3 million are under 25.     level below 50 shows a reduction)           rose to 9.8% in March, up from 9.6%
   To make matters worse, during the           This is one of steepest contractions     in February.

          Mayoral proposals rejected by the English

D
        espite a sustained push by the      the political elite. The rejections were       Unlike the EU system of how to
        government       for   elected      caused by a variety of factors, but the     conduct a referendum, the individual
        Mayors throughout the UK the        largest one seems to have been the cost     city’s will not have to vote again until
public have said no.                        to the rate payers’ followed by an          they produce the required result that
  Rejections       in     Birmingham,       unwanted further layer of local             the politicians require.
Bradford,       Coventry,       Leeds,      government.                                    Democracy at least for the time
Manchester, Newcastle, Nottingham,             Only in Bristol did the local            being is still being exercised in the
Sheffield and Wakefield has surprised       referendum vote for an elected mayor.       United Kingdom.

eurofacts 18TH MAY APRIL 2012                                                                                               PAGE 3
FROM THE HOUSE OF LORDS

             EU: Foreign Ministers meeting?
           Written Question                subjects. We are aware of one group of      decision-making processes and upset
Lord Stoddart of Swindon: To ask Her       EU Foreign Ministers meeting on an          the institutional balance within the EU.
Majesty’s Government whether a             informal basis to discuss a variety of      (Parliamentary copyright 2012 - House
selected group of European Union           issues related to the future governance     of Lords Hansard 1st May 2012)
Foreign Ministers is considering the       of the EU. While the UK is not part of
appointment of an official combining       that group, we understand that one idea     Commenting on the Government’s
the roles of the President of the          under discussion is a merger of the         response to his question, Lord Stoddart
European Council and the President of      positions of President of the European      said: “These sorts of informal
the European Commission and elected        Council and President of the European       discussions within the EU have a habit
by the European Parliament; if so,         Commission.                                 of rapidly being transferred into formal
whether the Foreign Secretary is a            However, this idea is purely             proposals. Since the Government is
member of the group; and whether they      hypothetical; no formal proposals have      not party to these discussions, its
have made any assessment of those          been made. The UK has had and               reservations are academic. Such a
proposals.                                 continues to have strong reservations       merger would represent a massive
The Minister of State, Foreign and         about whether this would be in the          shift of power into the hands of a
Commonwealth Office (Lord Howell           UK’s or the EU’s interest. A merger of      single, unelected bureaucrat. The
of Guildford): Different groupings of      the two presidencies would create a         Government should be taking this issue
European Union (EU) Foreign                potential     conflict    of    interest,   far more seriously and voicing its
Ministers meet on a wide variety of        undermine the quality of the EU’s           objections very strongly.”

                                Sign Treaty or pay fine!
         European Communities              then happen?                                reply, Lord Stoddart said: “He is
         (Amendment) Act 1993              Lord De Mauley: My Lords, as I said,        suggesting that if Parliament doesn’t
                                           we would be in breach and subject to        do as it is told by Brussels, then the UK
Lord Stoddart of Swindon: Can the          infraction proceedings and, yes, I am       will be getting a smack on the wrists
Minister explain what would happen if      sure that we would be subject to a fine.    and a large fine. It is humiliating and
Parliament decided that it did not want    I do not want to speculate on what          humbling for a Parliament of the
to obey this particular instruction or     would happen if we did not pay it.          stature that ours once had, that is until
law under the treaty, and infraction       (Parliamentary copyright 2012 - House       it made the terrible mistake of allowing
proceedings took place? Is it possible     of Lords Hansard 26th April 2012)           itself to be undermined by the EU. At
for the United Kingdom to be fined? If                                                 least we can be in no further doubt
it refused to pay the fine, what would     Commenting on Lord De Mauley’s              about who really governs our country”.

                                  Spanish woes continue

W
            hile the eurozone worries      figures rose again in March while its       support, this support will require the
            about the Greek election       sovereign debt level has been further       country to take on more debt. In terms
            results challenging the        downgraded to BBB+.                         of outlook, the agency has placed
austerity measures the EU - under the         The unemployment rate in Spain           Spain on a negative outlook, meaning
direction of Germany’s Angela Merkel       according to its National Statistics        there is a risk of future further
- has demanded of the Greek people.        Agency at the end of March rose to          downgrading of its debt level.
The Spanish also have issues according     5,639,500 this means that 24.4% of             The agency which had predicted a
to the National Statistics Institute for   those available for work are still          0.3% growth in the Spanish economy
Spain. They have said that the             seeking jobs. When looking at youth         this year, has now forecast that the
economy shrunk by 0.3% over the            unemployment only, the rate goes up to      economy will instead shrink by a
three months period January to March,      52%.                                        further 1.5%.
this is the second consecutive quarterly      Rating Agency Standard & Poor has
contraction. This may well result in       lowered Spanish sovereign debt by a            It is quite clear that Spain and many
increasing the cost of borrowing and       further two notches to a level of BBB+      other eurozone members are going to
the need for a further bailout.            and also suggested the possibility that     need greater levels of financial support
   Meanwhile, Spanish unemployment         the banking sector will need further        to keep the EU’s euro currency going.

PAGE 4                                                                                                 eurofacts 18TH MAY 2012
Anglosphere tops world league tables
E
      nglish-speaking nations occupy       only top ten countries which are not           highest-placed German university is
      the highest positions in two         English-speaking (though Chile’s               Heidelberg at fifty-three.
      recently-published world league      national hero is a chap called                    The top ten universities are:-
tables.                                    O’Higgins). Ireland, at number nine, is
   The first is the 2012 Index of          the only EU country to figure in the top               1         Cambridge
Economic Freedom (1), published            ten.                                                   2         Harvard
annually by The Heritage Foundation,          The UK comes in at fourteen (which                  3         MIT
one of the USA’s most prestigious          may prompt disbelief amongst many                      4         Yale
think-tanks. Heritage score each           citizens of that country). Germany                     5         Oxford
country on ten measures: property          comes in at twenty-six, between Qatar                  6         Imperial
rights, freedom from corruption, fiscal    (25) and Iceland (27). Spain is at thirty-             7         UCL
freedom, government spending,              six. France comes in at a heroic sixty-                8         Chicago
business freedom, labour freedom,          seven (behind Kazakhstan and Cape                      9         Pennsylvania
monetary freedom, trade freedom,           Verde), Italy at ninety-two.
                                                                                                 10         Columbia
investment freedom and financial
freedom. They rank the top ten                The other league table is QS World
                                                                                             A league table is only a league table
countries as follows:-                     University Rankings (2). QS assess
                                                                                          and the two considered here are only
                                           them by reference to academic
                                                                                          two amongst dozens of others. But they
         1       Hong Kong                 reputation, employer reputation,
         2       Singapore                 faculty/student ratio, citations per           do tend to suggest that as far as
         3       Australia                 faculty, international faculty and             economic and academic excellence are
         4       New Zealand               proportion of international students.          concerned, the anglosphere is where
         5       Switzerland                                                              the future is. British politicians, please
         6       Canada                        All of the top ten are American (6)        note.
         7       Chile                     or English (4). Nineteen of the top
         8       Mauritius                 twenty are American (13), British (5)          1) 2012 Index of Economic Freedom,
         9       Ireland                   or Canadian (1). The only European             The Heritage Foundation - Available
        10       USA                       university in the top twenty is the            from the June Press see rear page, price
                                           Zurich-based Swiss Federal Institute           £12 plus 10% P&P.
  No fewer than eight of the top ten       of Technology. The highest-placed
were formerly part of the British          French university, the Ecole Normale           2) QS World University Rankings 2011,
Empire. Switzerland and Chile are the      S u p é r i e u re , is at thirty-three. The   www.qs.com

             China gets further advice on its economy

C
       hina the world’s second-largest     economic gloom          and    increasing      helping to keep the US economy afloat
       economy whose export-led            unemployment.                                  by buying up its debt.
       drive has been a total success                                                        For the months of January and
and avoided the recession suffered by         Despite fears that China’s economic         February, China increased its holding
most other countries has now been told     growth would be held back by the               of US debt as its foreign reserves
again to stop doing it. Firstly as we      slowdown in the USA and Europe, its            continue to grow. In February,
reported in the last issue of eurofacts,   economy has continued to expand.               according to the US Treasury
the head of the International Monetary        China’s economic growth comes               department, Bejing bought $12.7
Fund (IMF) Christine Lagarde told the      from its manufacturing and export lead         billion (£8 billion) of US bonds
China to stop this export-led financial    sector, and for the fifth month in a row       therefore increasing its holdings to
success story. Now it’s the US Treasury    the second-largest economy has                 $1,178.9 billion (£742.6 billion),
Secretary, Timothy Geithner that is        managed to increase its manufacturing          making it the largest foreign buyer of
urging the same change saying that         activity. According to Markit/CPS the          US government debt.
China should focus on increasing           Purchasing Managers Index (PMI) rose
domestic consumption in order to           from 53.1 in March to 53.3 in April.              China without taking economic
sustain China’s economic growth. If        (Levels above 50 indicate a rise in            advise from the EU or the US has the
China takes lessons from the West          activity).                                     largest foreign exchange reserves in
about how to run an economy then it                                                       the world and they rose by 3.9 per cent
must also prepare the country for             Luckily for the US the Chinese are          in the last quarter from a year earlier.
eurofacts 18TH MAY 2012                                                                                                     PAGE 5
LETTERS
                           Tel: 08456 120 175 email: eurofacts@junepress.com

           Eurozone pact                    inevitably be one of civil and financial    that way can they defend themselves.
Dear Sir,                                   breakdown and all that goes with such       SIMON DAVIES
The truly anti-democratic nature of the     a crisis.                                   London
European Union is made clear in                If the UK on the other hand was
recent utterances by Chancellor Merkel      outside the EU we would be able to                World Bank changes
and the European Commission.                avoid both civil and economic chaos         Dear Sir,
   Merkel repeats that the Eurozone         by advancing employment and that            On Monday 16th March, Dr Jim Yong
fiscal pact (which dictates non             feel-good factor which ever since we        Kim was elected as the new president
democratic central control of all           joined the EU has been very sadly           of the World Bank, he was the USA’s
Eurozone countries’ taxes and               missing.                                    preferred candidate. However, not
spending) “will last for ever” and          RICHARD HARRISON                            everyone agreed, many thought he was
“cannot be amended”. The European           Sunderland                                  chosen for political reasons and not on
Commission said the pact was signed                                                     merit alone.
by States not by governments (the              European Arrest Warrant                     Dr Kim, has said that capitalist
classic attitude of those who have          Dear Sir,                                   market-based growth is a priority for
contempt for voters) and claims             Yet again we here of the European           every single country.
that “Governments        change     but     Arrest Warrant (EAW) being used                In a recent interview with the BBC,
commitments on behalf of states             inappropriately.                            he went on to say that market-based
cannot be changed without discussion           The recent news that a British man       growth is the best way to create jobs
with European partners”.                    has been served with an EAW from a          and lift people out of poverty.
   In the UK no parliament can bind its     high profile case he was cleared of in a       He did not however, say where the
successors. If they could no election       Portuguese court in 1995, raises the        market growth was going to come from
would mean anything. This elementary        issue yet again.                            or whether the world bank would be
definition of democracy is apparently          Replying to the comments by Nick         helping to finance such a move.
alien to the Euro-elite - which is why      Clegg MP about the EAW, Shami               BRIAN FISHER
their diktats have led to financial         Chakrabarti, director of the human          Surrey
misery and democratic collapse and          rights pressure group Liberty, said:
why they are so despised throughout         “The deputy prime minister is right            American’s start spending
Europe.                                     about the importance of criminal            Dear Sir,
RODNEY ATKINSON                             justice co-operation, but the European      In the USA we are told that consumer
Northumberland                              Arrest Warrant provides instant             spending accounts for 70 per cent of
                                            extradition without harmonising             the economic activity and therefore,
         EU referendum?                     protections across the EU.                  economists keep a close eye on the
Dear Sir,                                      “No one should be taken from their       levels of consumer confidence and
I was fascinated to hear that even Lord     home, family, language and legal sys-       their spending patterns. A report in
Mandelson, himself a die-hard               tem to face months or years awaiting        March from the Consumer Department
europhile has admitted on Newsnight         trial in a foreign jail without a basic     has shown rises both in incomes and
8th May, that he believes that the UK       case being tested in a local court.         spending levels. The levels of personal
will have a referendum on EU                   “People are not parcels of meat to be    income have increased by 0.4 per cent
membership IN or OUT within the             sent off around the world. A little dis-    while their spending has risen to 0.3
next 5 to 10 years. Mandelson of            cretion and compassion needs to be          per cent, this must be an encouraging
course will be hoping we stay IN.           brought back.”                              sign for a consumer led recovery in the
   The      future     for    the    UK                                                 US.
manufacturing and trading sectors have         Surely the time to sort out this            The only worry with this apparent
as always been beyond the narrow            injustice has come. The UK has a well       recovery, is that the reason we got into
fortress structure of the EU.               tried and tested legal system and its       this mess is because of consumers
   As the EU market place will              citizens deserve the right to be tried in   spending more than they could afford.
continue to be uncompetative and            their own country, by a legal system        We have to avoid this ever occurring
reliant upon large financial transfers or   they understand.                            again and make sure that credit is only
taxation to keep its failed euro project       Furthermore, they need these trials      available to those who can truly afford
going, the citizens will become more        to be conducted in the English              too pay it back!
hostile to their leaders.                   language so that they fully understand      RACHEL SMITH-JOHNSON
   The outcome for the EU will              the questions and accusations, only         Birmingham
PAGE 6                                                                                                  eurofacts 18TH MAY 2012
MEETINGS
           Gresham College                            British Weights and
                                                                                              USEFUL WEB SITES
            020 7831 0575                             Measures Association
                                                         07711 873740
Tuesday 22nd May, 6.00 pm                                                               British Declaration of Independence
                                              Saturday 26th May 2011, 3.00 pm           www.bdicampaign.org
“Britain in the Twentieth Century -                                                     British Gazette
Progress and Decline The Post-War             “Can we trust the media?”                 www.britishgazette.co.uk
Years: A new consensus? 1990-2001”                                                      British Weights & Measures Assoc.
                                              Jonathan Boyd Hunt, author of Trial       www.bwmaOnline.com
The fall of Thatcher left a legacy that       by Conspiracy                             Bruges Group
was contested and divisive. During the                                                  www.brugesgroup.com
1990s, the Conservative Party, under the                                                Campaign Against Euro-Federalism
                                              CONFERENCE & AGM
impact of divisions on Europe and on                                                    www.caef.org.uk
                                              Victoria Services Club, 63 Seymour
economic policy, began to fragment.
                                              Street, London W2 2HF                     Campaign for an Independent Britain
But, after four election defeats, Labour
                                              Admission £5.00 on the door               www.freebritain.org
under Tony Blair seemed to be adopting
some of the main tenets of Thatcherism.       Following AGM at 2.00 pm                  Democracy Movement
To what extent was there a new                                                          www.democracymovement.org.uk
consensus, and were the policies of the                                                 EU Observer
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New Labour government an extension                                                      www.euobserver.com
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“Regulating the Regulators”
                                                                                        June Press (Publications)
                                              Cyprus takes over              1st July   www.junepress.com
One of the Coalition Government’s first
                                              EU Council
actions was to attempt a bonfire of the       Presidency
                                                                                        Labour Euro-Safeguards Campaign
quangos. In order that the baby should                                                  www.lesc.org.uk
not be thrown out with the bath water,        Lib-Dems       22nd-26th September        New Alliance
one has to consider what areas of life do     Party Conference                          www.newalliance.org.uk
and do not need regulation. The Human         Brighton                                  Open Europe
Fertilisation and Embryology Authority                                                  www.openeurope.org.uk
is highly regarded and is a good              Labour Party   30th Sept-4th October      Regional Assemblies
example of inexpensive necessary              Conference                                www.regionalassemblies.co.uk
regulation in the interests of patients and   Manchester                                Sovereignty
children. It has however been under                                                     www.sovereignty.org.uk
consideration for abdication. There are       Conservative Party 7th-10th October       Statewatch
good and bad quangos. What general            Conference                                www.statewatch.org
principles should govern regulation and       Birmingham                                Team
who should do the regulating?
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                                              2013                                      The EU Referendum Pledge
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PUBLIC MEETING                                                                          The Taxpayers’ Alliance
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Admission Free                                Presidency                                www.ukip.org

eurofacts 18TH MAY 2012                                                                                                PAGE 7
j                             THE JUNE PRESS - BOOKS
    How much does the EU cost Britain                                      Europe on 387 million                               Guilty Men
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