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Ed Balls Making Up Bs As Usual

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http://www.dailymail.co.uk/news/article-1375052/Portugal-bailout-UK-limit-payout-says-Ed-Balls.html

It's not often the truth is told!

Ed Balls was accused of shameless ‘opportunism’ last night after he suggested Britain should limit its contribution to the £70billion bailout of Portugal.

In an extraordinary intervention the Shadow Chancellor said the crisis should be dealt with by countries in the euro.

But Mr Balls chose to ignore a deal signed by Alistair Darling last year in the dying days of the Labour government, which could leave the UK facing a bill of anything up to £6billion.

He said: ‘I think this is a crisis of the eurozone and the clear bulk of the financing should come from the eurozone.

‘And what we need to be doing is pressing the eurozone to face up to the nature of the crisis they are going through.’

Michael Fallon, deputy chairman of the Conservative Party last night said the ‘ridiculous’ comments underlined Labour’s ‘complete lack of credibility’.

He added: ‘Ed Balls knows full well it was the Labour government who committed the UK to this bailout fund just before they finally left Downing Street.

‘It takes opportunism to new depths of absurdity for Ed Balls to argue the Government should put itself in breach of treaty obligations Labour negotiated.’

The row came as Chancellor George Osborne attended talks in Budapest on the scale of a likely bailout for Portugal.

The package is set to cost £70billion, with the UK to stump up at least £4.2billion.

Mr Osborne said there would be no additional direct loans to Portugal, as there were with the Irish bailout.

Eurosceptic Tories last night warned Parliament would have to be recalled from its long Easter recess before a single pound is handed to Portugal.

Tory MP Peter Bone said: ‘We have had undertakings that Parliament would be recalled in a crisis and I think this pretty much counts as a crisis.’

Bill Cash, chairman of the Commons European Scrutiny Committee, said: ‘Why should British taxpayers pay a single penny to bail out a eurozone country which has got itself in a mess?

‘If it were to be decided we should contribute £4billion then Parliament would have to be recalled, as it would throw the whole Budget out.’

European leaders yesterday said Portugal must make deep cuts and privatise state-owned firms in return for the bailout.

The rescue package could be agreed by mid-May. But it will require cross-party support in Lisbon after the minority government resigned last month when its austerity plan was rejected by opposition parties.

The Portuguese economy has grown by an average of just 1 per cent a year over the last decade, making it one of the weakest in Europe. Unemployment is at 11.1 per cent, the highest since 1998.

Many observers believe Spain’s struggling economy could be the next to fall but the country’s economy minister, Elena Salgado, declared a bailout was ‘completely out of the question’.

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..Ed Balls is an embarrassment to himself never mind the whole Labour Party ....don't know why Sky News wheeled him out Sunday re the Bank proposals mouthing about what should be done ..and yet did nothing about it while in Government ... :rolleyes:

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Balls is right

We should tear up this agreement. It has no basis in democracy. Darling claims he made it with the consent of Osborne and Cable. Osborne denies this.

So tear it up.

But the CONS wont because they're as europhile as the rest of them, waiting for lucrative sinecures with banks and/ or the EU.

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Actually its a problem for stupid investors in Portugal.

Nothing to do with Governments at all.

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Balls is right

We should tear up this agreement. It has no basis in democracy. Darling claims he made it with the consent of Osborne and Cable. Osborne denies this.

So tear it up.

But the CONS wont because they're as europhile as the rest of them, waiting for lucrative sinecures with banks and/ or the EU.

Chortle. That's the point of an agreement, you can't tear them up when you feel like it.

Balls is never right, he is Blairs spawn, and will spin and spin and spin until he's sick.

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Actually its a problem for stupid investors in Portugal.

Nothing to do with Governments at all.

Absolutely, and ultimately true for any securities holders, of any kind, anywhere.

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It wouldn't bother me so much if Ed balls didn't get his own slot at the end of almost every news item. I don't remember the Tories enjoying this 1997-2010, do you? They were lucky if they got a word in on discussion shows.

They'll have him on after the weather next. "This Tory led warm front is clearly ideological, we would have had an occlusion with far milder effects..."

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It wouldn't bother me so much if Ed balls didn't get his own slot at the end of almost every news item. I don't remember the Tories enjoying this 1997-2010, do you? They were lucky if they got a word in on discussion shows.

They'll have him on after the weather next. "This Tory led warm front is clearly ideological, we would have had an occlusion with far milder effects..."

The bloody man's on again now (BBC News) :angry:.

"Well I think most people would say......."

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