Politics To Hurt British Markets - French Official

[Dubai]

Britain's markets are likely to be hit because of political uncertainty, but London should not rely on EU help if it suffers a financial crisis, the head of the French financial markets watchdog said on Tuesday. Skip related content

Jean-Pierre Jouyet, who was European affairs minister from 2007-2008, told Europe 1 radio that Britain's refusal to sign up to a $1 trillion (674 billion pound) package to stabilise the euro showed that the European Union had now fragmented into three distinct groups.

"There is not a two speed Europe but a three speed Europe. You have Europe of the euro, Europe of the countries that understand the euro ... and you have the English," he said.

"The English are very certainly going to be targeted given the political difficulties they have. Help yourself and heaven will help you. If you don't want to show solidarity to the euro zone, then let's see what happens to the United Kingdom," he added.

A British parliamentary election last week failed to produce an outright winner and the two main rival political parties are trying to woo the smaller Liberal Democrats to agree a power-sharing deal.

Against this backdrop of political uncertainty, London told its EU partners at the weekend that it would not provide support for the euro, which has been battered by the Greek debt crisis.

The move clearly irritated some French officials, who have been quick to point out that both Poland and Sweden, which are not in the euro zone, agreed to help finance a 60-billion-euro stabilisation fund for euro zone states in difficulty.

Text is all in this post but here's the link..... http://uk.news.yahoo.com/22/20100511/tuk-uk-france-britain-markets-fa6b408.html

There will be enormous pressure on camergoon to join the euro...... will he resist? Does he love this country enough? Or will he sell more of England, by the pound?

[Guest The Relaxation Suite]

Britain's markets are likely to be hit because of political uncertainty, but London should not rely on EU help if it suffers a financial crisis, the head of the French financial markets watchdog said on Tuesday. Skip related content

Jean-Pierre Jouyet, who was European affairs minister from 2007-2008, told Europe 1 radio that Britain's refusal to sign up to a $1 trillion (674 billion pound) package to stabilise the euro showed that the European Union had now fragmented into three distinct groups.

"There is not a two speed Europe but a three speed Europe. You have Europe of the euro, Europe of the countries that understand the euro ... and you have the English," he said.

"The English are very certainly going to be targeted given the political difficulties they have. Help yourself and heaven will help you. If you don't want to show solidarity to the euro zone, then let's see what happens to the United Kingdom," he added.

A British parliamentary election last week failed to produce an outright winner and the two main rival political parties are trying to woo the smaller Liberal Democrats to agree a power-sharing deal.

Against this backdrop of political uncertainty, London told its EU partners at the weekend that it would not provide support for the euro, which has been battered by the Greek debt crisis.

The move clearly irritated some French officials, who have been quick to point out that both Poland and Sweden, which are not in the euro zone, agreed to help finance a 60-billion-euro stabilisation fund for euro zone states in difficulty.

Text is all in this post but here's the link..... http://uk.news.yahoo.com/22/20100511/tuk-uk-france-britain-markets-fa6b408.html

There will be enormous pressure on camergoon to join the euro...... will he resist? Does he love this country enough? Or will he sell more of England, by the pound?

This must be translated because he refers to the English and not the British. Other than that he could be right. We need to wait until the gloss comes of the Cameregg project.

[Dubai]

There will be enormous pressure on camergoon to join the euro...... will he resist? Does he love this country enough? Or will he sell more of England, by the pound?

Oh, I think I've found an answer....

OUTCOME OF THE BRITISH GENERAL ELECTION: TEMPORARY CHECK MATE

It is hard to imagine a recipe more likely to morph into a pretext for the wholesale overthrow of the complacent and self-satisfied British political and bureaucratic Establishment. We have obtained a glimpse of the instability to come following the inconclusive outcome of the General Election held on 6th May 2010, following years of Brown's financial mismanagement and parliamentary sleaze.

The Conservatives could have won the election with an overall majority had they not long since decided to pretend that the issue of Britain’s hugely expensive and sterile relationship with the European Union Collective, involving the illegal remittance of Value Added Tax receipts to the European Commission, a criminal enterprise given that its accounts have been explicitly NOT approved by the Luxembourg-based Court of Auditors for the past 14 years [report of 2nd May 2010], is a non-issue for public consumption and electoral purposes.

Calculations based on votes cast prepared by the former MEP for South-East England, Ashley Mote, have revealed as follows:

• The Conservatives could have had a comfortable working majority if they had made an unequivocal commitment to a referendum on British membership of the EU.

• The UKIP (United Kingdom Independence Party) vote, favouring a much harsher policy towards Britain’s sterile EU participation, would have collapsed and, while not every one of the 25 seats listed below might have been delivered to the 'Conservatives', they would have emerged with a working majority of about 40.

In the following table of constituences where the 'Conservatives' came second, the first number shown represents the winner's majority, and the second number shown represents the UKIP vote:

Bolton West 92 901

Derby North 613 829

Derbyshire North East 2445 2636

Dorset Mid 269 2109

Dudley North 649 3267

Great Grimsby 714 2043

Hampstead and Kilburn 42 408

Hull North 641 1358

Middlesbrough South 1677 1881

Morley and Outwood 1101 1506

Newcastle-Under-Lyme 1552 3491

Norwich South 310 1145

Oldham East 103 1720

Plymouth Moor 1588 3188

Rochdale 889 1999

Sheffield Central 165 652

Solihull 175 1200

Somerset and Frome 1817 1932

Southampton and Itchen 192 1928

St Austell and Newquay 1312 1757

St Ives South 1719 2560

Swansea West 504 716

Walsall North 990 1737

Walsall South 800 1711

Wirral South 531 1274

Additionally, the Conservatives should have won Wells, which was lost to the Liberal Democrats with a majority of 800. But the UKIP vote was 1711; so including the promise of a referendum on Britain’s continued sterile membership of the EU could have secured this seat as well.

The Guardian reported on 8th May 2010 that ‘UKIP’s bid to beat the Speaker’ (who is traditionally unopposed by the main parties) in Buckingham, ended in third place. Lessons for the Conservative right, there, perhaps, if they think they can win by tacking to the extremes’.

But the data displayed above reveal that this assessment is the very reverse of the truth. If the ‘Conservatives’ had accommodated the known preferences of adherents of the United Kingdom Independence Party, they would have achieved a comfortable working majority and would not have found themselves on the edge of a deep abyss, as was the case as this report closed.

http://www.worldreports.org/news/289_biden_geithner_emanuel_taking_bush_srs_bribes

[Guest The Relaxation Suite]

Oh, I think I've found an answer....

OUTCOME OF THE BRITISH GENERAL ELECTION: TEMPORARY CHECK MATE

It is hard to imagine a recipe more likely to morph into a pretext for the wholesale overthrow of the complacent and self-satisfied British political and bureaucratic Establishment. We have obtained a glimpse of the instability to come following the inconclusive outcome of the General Election held on 6th May 2010, following years of Brown's financial mismanagement and parliamentary sleaze.

The Conservatives could have won the election with an overall majority had they not long since decided to pretend that the issue of Britain’s hugely expensive and sterile relationship with the European Union Collective, involving the illegal remittance of Value Added Tax receipts to the European Commission, a criminal enterprise given that its accounts have been explicitly NOT approved by the Luxembourg-based Court of Auditors for the past 14 years [report of 2nd May 2010], is a non-issue for public consumption and electoral purposes.

Calculations based on votes cast prepared by the former MEP for South-East England, Ashley Mote, have revealed as follows:

• The Conservatives could have had a comfortable working majority if they had made an unequivocal commitment to a referendum on British membership of the EU.

• The UKIP (United Kingdom Independence Party) vote, favouring a much harsher policy towards Britain’s sterile EU participation, would have collapsed and, while not every one of the 25 seats listed below might have been delivered to the 'Conservatives', they would have emerged with a working majority of about 40.

In the following table of constituences where the 'Conservatives' came second, the first number shown represents the winner's majority, and the second number shown represents the UKIP vote:

Bolton West 92 901

Derby North 613 829

Derbyshire North East 2445 2636

Dorset Mid 269 2109

Dudley North 649 3267

Great Grimsby 714 2043

Hampstead and Kilburn 42 408

Hull North 641 1358

Middlesbrough South 1677 1881

Morley and Outwood 1101 1506

Newcastle-Under-Lyme 1552 3491

Norwich South 310 1145

Oldham East 103 1720

Plymouth Moor 1588 3188

Rochdale 889 1999

Sheffield Central 165 652

Solihull 175 1200

Somerset and Frome 1817 1932

Southampton and Itchen 192 1928

St Austell and Newquay 1312 1757

St Ives South 1719 2560

Swansea West 504 716

Walsall North 990 1737

Walsall South 800 1711

Wirral South 531 1274

Additionally, the Conservatives should have won Wells, which was lost to the Liberal Democrats with a majority of 800. But the UKIP vote was 1711; so including the promise of a referendum on Britain’s continued sterile membership of the EU could have secured this seat as well.

The Guardian reported on 8th May 2010 that ‘UKIP’s bid to beat the Speaker’ (who is traditionally unopposed by the main parties) in Buckingham, ended in third place. Lessons for the Conservative right, there, perhaps, if they think they can win by tacking to the extremes’.

But the data displayed above reveal that this assessment is the very reverse of the truth. If the ‘Conservatives’ had accommodated the known preferences of adherents of the United Kingdom Independence Party, they would have achieved a comfortable working majority and would not have found themselves on the edge of a deep abyss, as was the case as this report closed.

http://www.worldreports.org/news/289_biden_geithner_emanuel_taking_bush_srs_bribes

The Conservatives have been a pro-EU party since Heath. Many of the biggest sovereignty giveaways were done by the Tories. There is no way the Conservative Party as it stands today will ever support leaving the EU. The plan, for those that care enough to know, is to continue the pro-EU story in a gradual way until those old enough to remember there was an alternative die off and the main bulk of beating hearts know only "EU".

[interestrateripoff]

The European's have had coalition govts for years and it never caused any problems, suddenly the British do it and everyone is having a hissy over it.

[Laura]

Politics To Hurt British Markets - French Official

Translation:-

"We are deep in the financial merde with no way out & being the sophisticated nation on the planet we will now blame everyone else for the trouble we are about to inflict on Europe .............. & you pig dogs on the wrong side of the sleeve are, as ever, our scapegoats"

[Gone baby gone]

Translation:-

I think your translation was very accurate Laura.

French in it up to their eyeballs and now getting worried that Germany won't play ball so stamping their feet and holding their breath until someone else picks up the tab.

Did they really expect countries outside the EURO to prop it up?

[indirectapproach]

The traction this thread has gained on HPC (not much), our very own crucible of bearish pessimism, shows how relevant people think what the French say now is.

[right_freds_dead]

im not sure the french could be any more unhelpful, even if they tried really hard - like got up early and worked more than 35hrs a week.

[Ben from Dover]

I think your translation was very accurate Laura.

French in it up to their eyeballs and now getting worried that Germany won't play ball so stamping their feet and holding their breath until someone else picks up the tab.

Did they really expect countries outside the EURO to prop it up?

thats exactly it - there is no 'solidarity' in the EU either outside or inside the eurozone. All bail-outs are done on the basis of politicians trying to work out what the minimum they need to do to stop what ever is going on from effecting their own countries too much.

If / when the UK gets to a position where we need a bail-out and if the EU can afford it they would certainly help as the effects on the whole of the EU would be massive. However by that time they certainly wont be able to afford it so it doesn't really matter.

[Godley]

French desparation. They realise the Euro is doomed and with it their fictional economy.

If the French hate us more today than they did yesterday, then rest assured this can only be a good thing for Britain.

[thod]

It was quite shocking reading the comments in the French press on this issue. The calls for solidarity and how we are all in it together only come when French interests are at stake. The French did not intervene when the pound was kicked out of the ERM. The French did nothing to support the pound when it crashed against the Euro, and it is still much lower than when the crunch began. Yet suddenly the UK has a duty? The Greece bailout is not so much about Greece as about France. It is the French banks that are on the hook for their huge lending to Greece, the UK has very little. Thus this is bailout of France. If the Greeks defaulted, the French state would be repaying depositors. It is what the French have been doing all the running, pressing the Germans to pay, to save France from its foolish lending decisions. Not surprisingly, they want to socialise their losses to other states. Had they made a profit, they would not have been handing it out. You see the same thing with the common agricultural subsidies. No reform for years, then when Eastern Europe joins and France may have to pay in rather than take out, they are all for reform. Do not be fooled by French chants about brotherhood. They are look after number one and will not give a cent to anyone else. Their only interest in the EU is how much money they can get from it.

[Gone baby gone]

It was quite shocking reading the comments in the French press on this issue. The calls for solidarity and how we are all in it together only come when French interests are at stake. The French did not intervene when the pound was kicked out of the ERM. The French did nothing to support the pound when it crashed against the Euro, and it is still much lower than when the crunch began. Yet suddenly the UK has a duty? The Greece bailout is not so much about Greece as about France. It is the French banks that are on the hook for their huge lending to Greece, the UK has very little. Thus this is bailout of France. If the Greeks defaulted, the French state would be repaying depositors. It is what the French have been doing all the running, pressing the Germans to pay, to save France from its foolish lending decisions. Not surprisingly, they want to socialise their losses to other states. Had they made a profit, they would not have been handing it out. You see the same thing with the common agricultural subsidies. No reform for years, then when Eastern Europe joins and France may have to pay in rather than take out, they are all for reform. Do not be fooled by French chants about brotherhood. They are look after number one and will not give a cent to anyone else. Their only interest in the EU is how much money they can get from it.

You win the most sensible post of the week prize. Completely agree, the French are all for anything in their interest, and will happily pass great wedges of Euro-legislation that they then fail to comply with while saps like Germany and Britain apply it to the letter.

[Guest sillybear2]

The Bundesbank actually went out of their way to increase their interest rates during the ERM crisis, thus making our problems even worse. It was a blessing in disguise, of course they don't give a f**k about the UK, these Eurocrats should remember we learnt the hard way and that's why we're not in the Euro.