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Monday, 30 January 2012


When David Cameron "Vetoed" the intention of France and Germany to introduce a tax on financial transactions, he did so, in my opinion, for the following two reasons;

   1)  The EU, in accordance with the Lisbon Treaty, did not have the right to impose taxes directly on EU members, without a unanimous vote by all EU members.

  2)   The tax proposed would have "destroyed" the City of London as a financial center, even though it was meant to provide revenue to bolster the defence of the EURO.  This was understandably totally unacceptable to David Cameron and Britain !!!

So far, so good !!!  Today, David Cameron is in Brussels for the next round of EU "discussions".  There will be talk about the "EUROZONE" but this does not yet exist legally.  There is no Treaty which concerns the preoccupations concerning the "EURO" and its future. 

There will certainly be further attempts to suck Britain into plans to pay for rescuing the EURO, but Britain still has its veto !!!  One could propose a new EU division called the "EUROZONE" but this needs a detailed "sub treaty", something which cannot happen with the blink of an eyelid !!!

Something which will certainly not be raised concerns the new split of EU overheads which Mr Barroso must be contemplating !!!  There have been so many private and public discussions, activities and meetings about the EURO, which exclude non-EURO countries, that 2011 EU expenses and those in the coming years cannot be farmed out as in previous years !!!

David Cameron will certainly be alert to all this and make his British feelings known !!!