Friday, 9 December 2011

Cameron capitulates to EU over Tobin Tax in UK

The Merkozy Borg got their anti-capitalist Tobin Tax yesterday but failed in their attempt to destroy the English financial sector as it will only be implemented in the €urozone.

Experts still estimate up to half a million job losses in the City though as the Tobin Tax will be inflicted on €urozone banks' operations in the UK.

Camoron is doing the rounds at the moment telling interviewers that he's rejected a deal that isn't in our interests and vetoed a treaty that wasn't in our national interest.  He's done nothing of the sort, of course, because he's allowed a Tobin Tax to be imposed on banks in the UK and there was no plan to make treaty changes because Herman van Rumpy-Pumpy and the Merkozy Borg were determined to avoid a referendum in the UK.  All the changes are being made to a protocol attached to the Lisbon Treaty which Camoron has agreed to.

Wee Willy Vague actually had the nerve this morning to say that the Tories vetoed treaty change, doing what they said they would do as they always do.  Like the referendum on the Lisbon Treaty that they promised and then refused.  Or the referendums that they've promised for EU treaty changes or transfers of power to the EU - even backing it up with a law -  and then refused on more than one occasion.

How easily the so-called eurosceptic Tories are pleased.  Yesterday they were demanding a referendum and repatriation of powers from the EU, today they're congratulating their great leader on a victory for the UK.  There has been no repatriation of powers and there will be no referendum.  Repatriation of powers is impossible without a change to the Lisbon Treaty which the EU and Camoron have conspired to avoid to prevent a referendum in the UK.

The mythical repatriation of powers will forever remain a myth because there is no provision for taking powers off the EU under the Lisbon Treaty and because changing the Lisbon Treaty will require a referendum, the europhile Tories will never attempt to change it.

The changes that are being made to the €urozone are being facilitated by a change to a protocol attached to a treaty.  Changes to protocols attached to treaties require ratification by all member states.  Camoron could have vetoed it but he didn't.  He has agreed to the Tobin Tax that will damage not only our economy but the whole €urozone economy and the subversion of national democracy in the €urozone.

Comments (6)

Loading... Logging you in...
  • Logged in as
WARNING! This article is simply wrong. Cameron has vetoed the tobin tax here in the UK. Unfortunately he doesn't have the power over foriegn countries' financial laws which their banks, many of which operate in London have then to subscribe to.
3 replies · active 692 weeks ago
No, he didn't. He approved the amendment to the protocol that allowed a Tobin Tax to be implemented in the €urozone, applying to €urzone banks' UK-based operations. The Tobin Tax will apply to €urozone banks in the UK for financial transactions carried out in the UK. Cameron did this.
Sean O'Hare's avatar

Sean O'Hare · 692 weeks ago

I don't think they needed Cameron's approval to impose a Tobin Tax on €urozone banks operating in the UK. They are foreign companies and their host nation can impose what taxes it likes on them. There is nothing that we can do about that.

Yesterday I would have bet quite heavily that Cameron would have rolled over and agreed to everything. He seems to have grown a pair. I think it is probably a sop to his EU sceptic backbench, so we have to watch and see how he reacts when the enemy make their next move. I don't think we have long to wait.
The Tobin Tax can only be implemented by the protocol change that Cameron had to agree on. Because changes to protocols are effectively changes to treaties, they aren't voted on by QMV. He must have been told that the Tobin Tax would be applied to UK offices of €urozone banks for UK financial transactions before he agreed to it and he agreed anyway. And where is the repatriation of powers in return for agreeing to the protocol change? He knows that would require a change to the Lisbon Treaty and that would trigger a referendum. It's all a smokescreen.
Thank the Lord that someone understands what has actually happened, as opposed to the feckless MSM's take on the proceedings.

It's relatively early in the day and I'm already sick to death of trying to explain to the masses that they've been conned, yet again, and that the Camermong is still the same jellyfish that he was yesterday.

With the announcement from Draghi that non-eurozone countries will be required to funnel 50 billion euro into the IMF for use by the ECB to bail out Spain and Italy, not only has spineless Dave not vetoed anything at all and let the FTT in through the back door, he has, more than likely, left us on the hook for the lions share of that 50 billion.

The Europhile Tories are going to milk this for all they're worth and the stupid, ignorant hacks of the MSM are ready to place the laurel wreath on the Mongs head.

I don't know how much more of this I can take.
You are of course correct, and most of us knew he was lying as soon as he opened his mouth (with Cameron, that's a dead give-away!)
I was bold enough to predict it in my own blog, which your readers might enjoy.

. http://rossrightangle.wordpress.com/2011/12/07/ca...

Post a new comment

Comments by