Tuesday, 11 September 2012

European Redemption Fund Rejected by just two votes - Nikki & Trevor tip the scales!

Today in Strasbourg we voted on approval of the European Commission work programme for 2013.
There were a number of amendments to consider, including one which called for a 'European Redemption Fund' (ERF) to be included in the ‘two-pack’ legislation, which will supposedly strengthen budgetary surveillance and enhance budgetary policy in the euro area. This would mean that a significant proportion of public debt within stricken countries in the Eurozone would become the joint responsibility of all. One of the authors of this amendment was the Liberal Democrat MEP Andrew Duff, a notorious euro-federalist.
The fact that our country is not a part of the eurozone does not seem to bother Mr Duff, who wants to inflict as much 'Europe' on everybody as possible.
Any country needing financial assistance from the proposed ERF would be required to hand over a proportion of it's gold reserves, and to accept interference in its taxation policies. If they fail to meet targets for recovery imposed on them by the ERF, then they will forfeit their gold deposit.
This blinkered concept, which does not even begin to address the crisis in the banking sector, or balance of trade problems within the stricken Eurozone countries is destined to failure.
I am pleased to say that Trevor Colman and myself, along with our fellow non-attached MEP Diane Dodds, voted against this proposal, and with the amendment being rejected by a majority of just two votes!
 I think we can give ourselves a pat on the back!