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June 9th, 2012 
FAKE NEWS for the Zionist agenda
However, the Chancellor also made a significant new intervention which will
please many Conservative eurosceptics, stressing that a referendum will be
called if there is any “further pooling of sovereignty” among EU nations.
“Whatever may lie ahead I find that extremely reassuring,” Mr Osborne writes,
in comments which will be seen by many Tories as the government’s most
explicit pledge yet of the public vote they are increasingly demanding.
However there was still confusion last night over what will happen to Spain.
THe finance ministers of the 17 member countries of the single currency spent
more than two hours in a conference call on Saturday and were understood to
have prepared the ground for a “strings attached” rescue package – which
would depend on Spain, the zone’s fourth-largest economy, instigating
serious reforms of its stricken banking sector.
“The amount on the table at the moment is up to 100 billion euros (£80billion)
but this hasn’t been decided yet,” a senior EU official said, as wrangling
over the deal went on.
Unlike bailouts already approved for Greece, Ireland and Portugal, Spain is
understood to have been lobbying discreetly for a deal focused purely on
helping banks, thus avoiding outside interference with its sovereign
affairs.
Britain was not part of the talks but is pushing for “fiscal integration”,
meaning eurozone countries governed by the same tax and spending policies in
which Germany would have a dominant position.
The UK will not “stand in the way” of this, the Chancellor pledges in his
article.
The Chancellor accepts that eurozone countries will try to form a “shared
backstop” through a “banking union” which would see individual countries
face much greater scrutiny of their financial policies by the European
Central Bank – but warns that Britain will not take part, even if other EU
countries which are not in the eurozone do. He also makes it clear that the
UK will insist on watertight “safeguards” to protect the City of London.
The Chancellor attempts to strike a more optimistic note by emphasising that
there are “signs a solution will be found” to the Spanish banking crisis.
He also declares that the coalition’s deficit reduction plan and cuts in
corporation tax are sharpening the country’s “competitive age.”
Mr Osborne also echoes President Barack Obama, who warned last week that
Europe risked a “downward spiral” which would badly hit other economies,
including the US.
Official figures confirmed this year that Britain has already entered a
“double dip” recession and the Office for Budget Responsibility (OBR)
predicts the economy will grow by just 0.8 per cent this year and 2.0 per
cent in 2013.
Mr Osborne has faced criticism from business for not doing enough to stimulate
growth, while Labour has accused him of cutting government spending “too far
and too fast.”
He adds: “I know from talking to British businesses that our country is
bursting with entrepreneurial spirit and exciting investment plans that are
being held back because of uncertainty about the future.
“That’s why a resolution of the eurozone crisis would do more than
anything else to give or economy a boost.”
Calling the current crisis a “moment of truth”, Mr Osborne adds: “After more
than two years of uncertainty, instability and slow growth, decisions taken
over the next few months could determine the economic future of the whole
European continent for the next decade and beyond.”
The Chancellor adds: “Further pooling of sovereignty – for example over fiscal
policy and financial supervision – must be limited to the countries in the
eurozone.
“That is why a banking union is a natural extension of a single currency. If
other non-eurozone countries in the EU, who unlike the UK have a legal
obligation to join the euro, want to opt in to a banking union then that is
up to them. But we are clear that Britain will not take part.
“British taxpayers will not stand behind eurozone banks, and British
voters want their Government to be in charge of supervising our own banks,
especially in a crisis.”
Mr Osborne uses the article to go out of his way to promise that no government
will be able ever again to break its promise of offering a referendum if
more power is transferred to Brussels because the law passed by the
coalition guaranteeing a “referendum lock.”
With the law now stating “a referendum would be required before the UK can
approve the extension of any competence of the EU relating to… the
coordination of economic policies”, most Tory MPs believe the shake-up
needed to solve the eurozone crisis makes such an outcome inevitable.
Chris Heaton-Harris, the co-chairman of the Fresh Start group of Eurosceptic
MPs said: “ Like the Chancellor, I am reassured that we have the EU Act with
a referendum lock.
“In the next few months as the Eurozone heads for fiscal and banking union, I
doubt few will argue that this is not an extension of the competence in
economic policies that will directly effect the UK. This automatically
triggers the lock.
“With these momentous changes happening in the European Union it is only right
that the British people have their say in what any new relationship should
look like.”
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