Eurozone countries go it alone with new treaty that excludes Britain

[scooterscot]

oh dear. David Cameron loses bid to shield City of London from EU regulation and critics warn 'dangerous' move isolates UK. He just couldn't help himself, a predicted outcome.

Britain is facing isolation in Europe after David Cameron vetoed a revision of the Lisbon treaty, prompting a majority of EU members to agree to draw up their own deal outside the architecture of the union.

In one of the most significant developments in Britain's 38-year membership of the EU, the British prime minister said early on Friday morning he could not allow a "treaty within a treaty" that would undermine the UK's position in the single market.

The move marked a victory for Nicolas Sarkozy, who had been pressing for an inter-governmental agreement among the 17 members of the eurozone to underpin tough new fiscal rules for the single currency. "We could not accept this," he said of Cameron's demands.

Sources in Brussels say Cameron is playing a "dangerous game" because financial service regulations are decided by the system of qualified majority voting in which Britain does not have a veto. Britain can form a "blocking minority" at the moment to stop harmful legislation. But this will shrink as more countries join the euro.

Eurozone countries go it alone with new treaty that excludes Britain | Business | guardian.co.uk

[aceboy]

he is in a no win situation:

join euro club - feel loads of pain for UK PLC as we try to support other counties whom have no right to be euro members as they dont meet the criteria

stay out of euro - feel loads of pain for UK PLC as we have potential trade embargoes put in place....

[Doggy Styles]

he is in a no win situation:

join euro club - feel loads of pain for UK PLC as we try to support other counties whom have no right to be euro members as they dont meet the criteria

stay out of euro - feel loads of pain for UK PLC as we have potential trade embargoes put in place....

There will be no trade embargos, for the simple reason that it would hurt the eurozone as much as it would hurt the UK.

The UK has won this round, and I hope they continue to push back against eurocreep.

PS You need to understand that scooterscot aka Lord Haw Haw doesn't know what he's talking about.

[ThomasSoerensen]

he is in a no win situation:

join euro club - feel loads of pain for UK PLC as we try to support other counties whom have no right to be euro members as they dont meet the criteria
other option

joining the Euro is not an option for the UK - they are not allowed as they do not meet criteria for membership

So the choice is easy - as there is nothing about euro membership the UK can do.

[Mich the Tester]

Nonsense, piffle, poppycock and bovine faecal matter.

The 17 countries in the Eurozone have agreed to set up a new fiscal treaty among themselves to sort out their difficulties. The others don't have to be part of that, because they aren't in the Euro, UNLESS they plan to be part of the Euro in the future.

Logical outcome all round. Nothing to see here, move along please.

[sasguru]

joining the Euro is not an option for the UK - they are not allowed as they do not meet criteria for membership

.

What is that criteria? To be as bust as Greece, Italy, Spain?

[Mich the Tester]

There will be no trade embargos, for the simple reason that it would hurt the eurozone as much as it would hurt the UK.

WDSS

Both Ireland and the Netherlands do a great deal of trade with the UK and will not stand for restrictions on that trade.

[MarillionFan]

We just need to wait for Greece, Italy and Spain to go bust. Then the Euro collapse. Then the sound of boots marching out of Berlin and then we put in a call to our friends in the US. We haven't isolated them yet? Have we???

[Mich the Tester]

We just need to wait for Greece, Italy and Spain to go bust. Then the Euro collapse. Then the sound of boots marching out of Berlin and then we put in a call to our friends in the US. We haven't isolated them yet? Have we???

Morning Mr Garnett!

[original PM]

There will be no trade emargoes becasue if there is we will bomb them back to the fu<king stone ages.

Short memories these foreigners - shall we remind them just who won the damn war???