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Posts Tagged ‘Euro Veto’

Christine Lagarde: IMF Boss Says Gloomy Times Ahead And Every Economy Is At Risk

Posted by Ram Kumar Shrestha on December 16, 2011


We made world peace risk and this made economy risk as trillion dollars used not for creation but for destructio­n:

Christine Lagarde, managing director of the IMF, has issued a stark warning to world markets by claiming the future is “gloomy” and every economy in the world is at risk.

Her comments came as tensions between London and Paris were heightened further after the head of France’s central bank suggested that the UK was a candidate for a credit rating downgrade.

Speaking on Thursday Legarde said: “There is no economy in the world, whether low-income countries, emerging markets, middle-income countries or super-advanced economies that will be immune to the crisis that we see not only unfolding but escalating,”

“It is not a crisis that will be resolved by one group of countries taking action. It is going to be hopefully resolved by all countries, all regions, all categories of countries actually taking action,” Reuters reported.

“It is going to require efforts, it is going to require adjustment, and clearly it is going to have to start from the core of the crisis at the moment, which is obviously the European countries and in particular the countries of the eurozone.”

Earlier, tensions between London and Paris were heightened further after the head of France’s central bank suggested that the UK was a candidate for a credit rating downgrade.

France is bracing itself for the potential loss of its coveted AAA rating after two credit agencies last week indicated they were considering marking down countries across the eurozone.

Read the Article at HuffingtonPost

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Euro Veto Row – What’s In Monday Morning’s Papers?

Posted by Ram Kumar Shrestha on December 12, 2011

On Monday afternoon at about 3:30pm David Cameron will appear in the Commons to update MPs on the European Summit last week.

This is fairly routine and happens after every major intergovernmental conference. What’s new this time is that in vetoing an EU treaty, Cameron has done something which no British PM has ever done before – not even Thatcher.

So we can expect a little piece of parliamentary history and will be watching the faces of Liberal Democrats. Of interest will be whether their leader Nick Clegg will turn up and sit next to the PM, or if he’ll just keep away.

Cameron’s torpedoing of attempts to create an EU-wide treaty on stabilising the euro has pleased dozens of Eurosceptic Tory MPs, who for once find themselves in control of the agenda. A vote in the commons a month ago on whether there should be a referendum on Britain’s future in the EU attracted 80 Tory rebels.

This paved the way for Cameron finding it impossible to allow any further treaties within Europe, because the British government’s position on treaties means almost any new treaty would see deafening calls for a referendum. Two Parliamentary Private Secretaries left the government over that vote and there were plenty of others who jostled with their consciences. But those Tories will have a spring in their step today as they head to the Commons.

We’re also watching Vince Cable closely, after it was claimed at the weekend he might resign over the European veto by Cameron.

He issued a denial on Sunday night in response to the rumours, but their source, Will Hutton, is a close friend of the business secretary, which is why they were taken so seriously.

Read the Article at HuffingtonPost

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