Monday, 22 November 2010

The Coalition must tell the truth

Interesting post from Douglas Carswell on UK's contribution to the Irish bailout. Despite the Chancellor, George Osborne suggesting on Radio 4's Today program this morning that the UK was acting because Ireland was a 'friend in need', it now seems that article 122 of the Lisbon Treaty requires us to contribute to any bailout, under the European Stabilisation Mechanism.

This mechanism is about granting financial assistance to a Member State in difficulties or seriously threatened with severe difficulties caused by exceptional occurrences beyond its control. This financial assistance shall take the form of a loan or of a credit line granted to the Member State concerned.