Thought Id start this one going because its rather dead on this board at the moment and I suppose all my usual muckers are either at the Stella tennis event watching Dim Tim (lose again) or at Henly Regatta eating cucumber sandwiches (they wish,...NOT).

Anyway please feel free to just talk to yourself blast away and let it go on any company or subject you wish. Just wish Id thought of this one before.

cheers GF.

news on the eu .
if the uk stays in the eu it will have to put billions into the rescue fund

from where did you glean that bit?
to the best of my knowledge, one of the advantages uk has held on to through not joining € is that we have not had to contribute to the assorted eurozone bailouts .... if we have, then only in a very limited way, probably due to any uk banks' exposure to any relevant sovereign loans

cnbc a quest said at the moment the uk is out of the bail outs but if it votes to stay in the eu it will have to put money into the rescue fund for future failures
federal eu is coming

EU demands Britain joins Greek rescue fund
Jean-Claude Juncker, European Commission president, discards David Cameron's deal that spares Britain from Eurozone bailouts

By Matthew Holehouse, in Brussels6:54PM BST 13 Jul 2015Comments597 Comments
Britain will be liable for close to £1 billion of emergency loans to Greece, it can be revealed, after Jean-Claude Juncker tore up a “black and white” deal to protect UK taxpayers from Eurozone bailouts.
George Osborne, the Chancellor, today attempted to fight off a proposal to raid the EU budget to save Greek banks from financial collapse.
Under a plan drawn up in the small hours of Sunday night as leaders wrestled to save Greece from economic collapse, Mr Juncker, the president of the European Commission, wants to revive a mothballed bailout fund. It will use the EU budget as collateral against 8.6 billion euros of short-term bridging loans to Greece.
The proposal tosses aside a written agreement between David Cameron and his counterparts that stated British taxpayers would never again be exposed to Eurozone bailouts.
Mr Cameron subsequently assured the House of Commons that Britain be exempt from bailouts, and he has repeatedly used the deal as proof that he can radically renegotiate Britain’s membership with the EU.
Indeed, the 2015 Conservative manifesto boasts: “We took Britain out of Eurozone bailouts, including for Greece – the first ever return of powers from Brussels.”
EU officials this morning said that deal – arguably Mr Cameron’s greatest diplomatic coup in Europe to date – had been assessed by lawyers as nothing more than a “political” accord with no legal force.
Mr Cameron fought a bitter and lonely battle to block the appointment of Mr Juncker, the former Prime Minister of Luxembourg.
The episode will fuel concerns among Eurosceptics that the Commission will not be an honest broker during the renegotiation of British membership of the EU. It will add to demands for full treaty change before polling day – rather than a simply protocol promising future reform.
Mr Obsorne this afternoon rang his counterparts to say the plan was a "non-starter", ahead of a meeting in Brussels on Tuesday at which he could, in theory, be out-voted.
A Treasury source said: "Our Eurozone colleagues have received the message loud and clear that it would not be acceptable for this issue of British support for Eurozone bailouts to be revisited.
"The idea that British taxpayers’ money is going to be on the line in this latest Greek deal is a non-starter."
At breakfast this morning Alexis Tsipras, the Greek premier, capitulated to German demands for a gruelling package of austerity measures in exchange for a third bailout worth more than 86 billion euros. The cash will come from the European Stability Mechanism (ESM), a rescue fund backed by other Eurozone states set up in October 2012.
However, it will may be weeks before the cash is available because the package must be signed off by half a dozen European parliaments.
In the meantime, Greece must find 12 billion euros to service its debts by the end of August, or suffer a catastrophic banking collapse. It includes a vital 4.2 billion euros to repay the European Central Bank on Monday.
To cover these short-term costs, Mr Juncker wants to revive the European Financial Stabilisation Mechanism (EFSM), a loans facility used to rescue Ireland and Portugal early in the Eurozone crisis. It works by borrowing money on the international markets, using the EU’s own budget as collateral, and can release billions with the nod of of EU finance ministers.
Britain pays around 14 per cent of the EU budget – meaning that lending Greece 8.6 billion euros would leave UK taxpayers exposed to the tune of around £850 million. The risk of default is high.
Yet Mr Cameron secured a binding written agreement with his counterparts at a Brussels summit in December 2010, explicitly prohibiting such a deal.
In exchange for British consent to treaty change to create the ESM, the text of the deal stated that the EFSM would not be used again to bailout Eurozone members.
Mr Cameron told the House of Commons: “Both the Council conclusions and the decision that introduces the treaty change state in black and white the clear and unanimous agreement that from 2013 Britain will not be dragged into bailing out the eurozone.
“Britain is not in the euro and we are not going to join the euro, and that is why we should not have any liability for bailing out the Eurozone when the new permanent arrangements come into effect in 2013.”
In 2011, Mr Cameron fought and won to prevent the EFSM from being used to bailout Greece, even before the new deal came into force.
“I wanted to seek assurances at this European Council that Britain won’t be called upon to do that,” he said at the time. “I sought those assurances, I have received those assurances. Nevertheless I will continue to be vigilant on this issue.”
Jeroen Dijsselbloem, the Dutch chief of the Eurogroup, on Monday confirmed publicly that a bailout “involving all member states” will be considered by a meeting of EU finance ministers.
Britain has no veto, with approval instead requiring the consent of 85 per cent of states, weighted for population - presenting the risk that Mr Osborne could, in theory, be out-voted by his colleagues.
Asked about the British deal, a senior EU official said: “The council decision is a political agreement, and it can be argued that it does not prevent the activation of mechanism.”
A Downing Street spokesman said: "Leaders from across the EU agreed in 2010 that the EFSM would not be used again for those Euro area, and that remains the Prime Minister's view. We have not received a proposal and one is not on the table."

cynic . Cameron will sell out the uk but the back benchers will revolt my pm
sent me a e mail yesterday saying she will vote out

They are planning to use the EFSM as loan money (European Financial Stabilisation Mechanism). We may have to stump up £1b with no veto as it is voted on by majority. The fund is outside the Eurozone and all EU members contribute to it.

cynic when I post something on the eu it is always correct .

watch cnn they always tell facts and figures

never listen to the stinking bbc you will never get facts

Like this comment from the above article:-

Play them at their own game - we'll lend you the 1bn euros to help Greece, provided you put up Siemens and BMW as collateral..

hays post tells you why we must get out and bring the vote forward has soon as pos

the eu is rotten to the core

You just know we're going to contribute don't you , by hook or by crook they will get money out of us .

We will all be like Greece if the EU gets its way

The humiliating terms imposed on Greece show just how far the EU will go to snuff out any hint of sovereignty in its member states



Alexis Tsipras has let his own people down badly in accepting the deal Photo: Reuters



By Nigel Farage

8:02AM BST 14 Jul 2015



What we are seeing in Europe is the complete and total failure of supranationalism. While cooperation between independent nations has always been important, the last few weeks have laid totally bare the European Union's brand of authoritarian dogma. Much of what I have been warning about for many years indeed is playing out on the world stage - a Greek tragedy that beggars belief.


For many years in the European Parliament I have done my best to point out how the EU's bullying tactics are not just undemocratic, but anti-democratic. I have been derided, called names, and so on (don't worry, I can take it). But now, with the EU's nauseating approach to Greek sovereignty, it is clear that more and more people are waking up to the dangers of this supranational beast sweeping aside national sovereignty completely. Many who had continued to believe until very recently that the EU was compassionate and forward-looking are beginning to realise just how backwards the whole project is.



More: http://www.telegraph.co.uk/news/worldnews/europe/greece/11737773/We-will-all-be-like-Greece-if-the-EU-gets-its-way.html

i'm not entirely convinced that we have seen the end of this greek drama even in the immediate short term - and that is why i am modestly short DOW

the shenanigans of whether or not uk should be bulldozed, or whatever other term you wish to use, into contributing to any greek bailout fund when it has been expressly agreed that uk should not be so obliged, will be another little saga to follow
as i wrote a number of times about the main greek saga, there will be much discussion and negotiation behind the scenes, the public announcements often having little bearing on actuality

the question now is [ Osborne] as said we will not put in any money .
so if the uk now puts in money he will be a liar and should resign

Cameron to step down before the uk votes on the eu ?

The previous method that might have been used to make us put money in for Greece was blocked by Cameron. The EU has come up with a different method that we cannot block.

Exactly WHY I for one will vote to exit this circus.

that being so, it stinks - so no surprise there - and will assuredly strengthen the hand of the eurosceptics
however, what eventually transpires may well be different, or as seen through smoke and mirrors

The SNP say they will vote against the fox hunting amendment Bill on Wednesday. That's great as it will increase the call for English votes for English laws. If the government passes the English law bill then they will reintroduce the fox hunting bill later. The SNP may just have committed suicide.

It's a bit like that £1.7 billion we had to pay a while back , due to us hitting a certain GDP or something . We had to do a deal over that , but they got it off us .

The government has withdrawn the vote on fox hunting. They will get it passed after they pass the English Laws for English MPs. I suspect that this may have been deliberate tactics by Cameron to turn the MPs against SNP.