British taxpayers ordered to bail out euro – Telegraph
Via British taxpayers ordered to bail out euro – Telegraph:
All 27 EU finance ministers have been summoned to Brussels on Sunday to sign up to a “European stabilisation mechanism. Britain will be unable to veto this as it will be put through under the “qualified majority voting” system.
And the mandate for a Labour Chancellor to sign up to this is what?
Interested readers may wish to see The Cobden Centre’s posts on Greece and my serialisation of The Theory of Money and Credit (start at the bottom of the page). Also my precis of Huerta de Soto’s explanation of the fundamental problem.
Update: you may enjoy my other economics posts and in particular Eamonn Butler’s Mises Primer published by the IEA with a foreword by yours truly.
Via the Guardian: Alistair Darling rules out British support for euro
