Posted by seumasach on June 27, 2016
The Bank of England said it was ”monitoring developments closely“ and would take ”all necessary steps“ to support monetary stability.
It’s bailout time again- perhaps some of that money that the Eurocrats have been squandering could be used to help out?
27th June, 2016
Trading in Barclays and RBS shares was suspended on Monday morning following heavy losses on the London Stock Exchange.
Posted in Battle for Europe | Tagged: Bail-in not bail-out!, brexit bailouts, no more bailouts, no more bombing!-no more bailouts! | Leave a Comment »
Posted by seumasach on March 5, 2016
At the heart of negotiations between Cameron and the EU was the issue of the single rulebook on banking regulation and , more particularly, the rules on bank recovery and resolution, the power of the European Banking Authority to
“apply bail-in measures: i.e. convert debt to shares or write it down – in this way, losses are imposed, according to an established order, on bank shareholders and creditors, not on taxpayers”.
These rules are applicable from 1st January, 2016 and are apply throughout the EU. As this article argues, the concession of “some flexibility” in the application of these rules gained by Cameron is unlikely to amount to much. So it looks like continued membership of the EU makes a further bail-out of British banks inconceivable. This would explain, perhaps, why so many within British elites are up in arms against the Cameron deal and now support Brexit. It also provides strong motive to support a “Yes” vote.
23rd February, 2016
Within the rules of the club, Prime Minister Cameron achieved as much as could be expected on economic governance from the European council negotiations. But the gain in flexibility he obtained may turn out to be rather less significant in practice.
Posted in Battle for Europe, UK economy | Tagged: Bail-in not bail-out!, Cameron's EU deal, no more bailouts | Leave a Comment »
Posted by seumasach on February 29, 2016
Dan Glazebrook
27th February, 2016
Anyone following David Cameron’s negotiations with the EU, or the subsequent ‘in-out’ referendum debate in Britain, would perhaps forgiven for believing that migration is the cause of all Britain’s woes.
Posted in UK economy | Tagged: bail out swindle, Bail-in not bail-out!, Cancel PFI debt!, no more bailouts-put banks into receivership, private finance initiative(PFI) | Leave a Comment »
In These New Times 