Merkel to warn UK on Europe budget veto

[alp227]

Last edited Sun Oct 21, 2012, 09:03 PM - Edit history (1)

Source: FT

Germany is planning to warn Britain that it will seek to cancel next month’s European budget summit if David Cameron, the prime minister, insists that he will veto any deal other than a total freeze on spending.

Angela Merkel, Germany’s chancellor, does not believe there is any point in holding the budget summit to agree on a seven-year framework for EU spending if Britain intends to veto any deal, say people close to the negotiations.

Ms Merkel is trying hard to persuade Mr Cameron to back a German compromise that would cap EU spending at 1 per cent of European gross domestic product. The European Commission has proposed a figure of more than €1tn for the years 2014 to 2020, or nearly 1.1 per cent of European GDP.

After last week’s summit, Mr Cameron bluntly stated his willingness to veto any deal involving increases in EU spending. “If there isn’t a deal that’s good for Britain, there won’t be a deal,” he said. “We can’t have European spending go up and up and up when we are having to make difficult decisions in so many different areas.”

Read more: http://liveweb.archive.org/http://www.ft.com/cms/s/0/a8fa9b08-1ba0-11e2-ab87-00144feabdc0.html

[DallasNE]

1. With Most Of Europe Mired In Recession

The only medicine they can come up with is more of the austerity measures that have brought on the recession in the first place? Now how bright is that? Greece's economy has shrunk 6 years in a row, all thanks to the extreme austerity measures forced upon them and nobody expects them to pull out of it in 2013 so why do they so insist on doubling down on policies that have already been shown to be a complete disaster. It makes no sense. And Romney wants to bring these same policies to our shores. That can't be allowed to happen, so come home America, come home to the policies that are known to work rather that the policies that have caused the problem in the first place.

(The "come home America" was in tribute to George McGovern, who passed away today).

[AndyTiedye]

2. I Think The UK Has Had Enough Austerity

http://im.ft-static.com/content/images/4666433d-7a19-46ee-adf5-97efafabe511.img

[CountAllVotes]

3. Signs in Ireland

Was there not long ago and I saw a sign that said, "Are we working hard enough yet Angela?" ...