The banking situation in Cyprus has hit the headlines
over the weekend, with a 10 billion euro bailout plan thrashed out by the
Cypriot government, European Commission and European Central Bank, and agreed
by the EU and the IMF. The deal currently on the table will see all those with
Cypriot bank accounts forced to pay a levy of 6.75% on sums less than 100,000
euros, and 9.9% on those over.
Opposition leader George Lillikas has argued that President
Anastasiades has “betrayed the people’s vote”. Given that this is a deal that
will have a devastating impact on citizens (with the burden placed very
directly on the citizens), and was agreed by institutions without the consent
of the people, I can’t help but agree.
This levy will also affect non-Cypriot citizens too,
including UK expats. While George Osborne has pledged to compensate any UK
government employees and military personnel in Cyprus, no such support will be
available for other Britons. At the moment, it seems depositors in the overseas
arms of Cypriot banks will be safe.
Fears are growing that investor confidence in the
eurozone will be shattered by this deal and the uncertainty in Cyprus, forcing
the nation to leave the Euro, which will of course have an effect on the rest
of us. And clearly, this turmoil provides yet another reason why we should
leave the EU.
Last Friday saw Mr Justice Ouseley rule on judgements
over the HS2 plans. Unfortunately, the ruling went in the government’s favour
on 9 out of the 10 points, and the government now says they will “press ahead
without delay” after what they describe as a “landmark victory”.
One positive to take from the ruling is that the
consultation into compensation for those affected was deemed to be so “unfair
as to be unlawful”, and the Department for Transport will now hold another
property consultation which should see those affected given fairer compensation
settlements. Many groups have also
stated that they will appeal the decision.
Rail Minister Simon Burns still claims that the “project
is in the national interest”, but I wholeheartedly disagree for numerous
reasons, as I have made publically clear. I am concerned about the effect on
people’s homes and the countryside. The planned rail line runs through
beautiful countryside and some of the best sites in Britain for wildlife. I
believe, as do many others, that the projected passenger demand is unrealistic
and ordinary rail users will find themselves unable to afford the increased
fares. HS2 would also not ease overcrowding issues on some lines until 2026,
and money could be spent delivering more effective and immediate results. For
more information on where I stand on HS2, please visit my blog (http://nikkisinclairemep.blogspot.co.uk/search/label/HS2)
and website (http://yourmep.org/hs2.html).
I plan to continue the fight against HS2 and to support
those also campaigning against it. While this ruling is a disappointment and a
setback, this will not deter me from opposing these government plans.
