England's White Dragon

England's White Dragon
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Friday, 18 November 2011

David Cameron WWIII is in Berlin

David Cameron WWIII is in Berlin to meet the German Chancellor Angela Merkel amid rising tensions over the British refusal to back a new tax on bank transactions to help regulate markets.

David will have a nice breakfast paid for by the English tax payer in Brussels to meet the European Commission President Jose Manuel Barroso and European Council President Herman Van Rompuy.

Both figures share Chancellor Merkel's frustration at what they see as Britain's/England’s adamant stance over how to handle the Eurozone.

He will then head to Berlin to try and resolve a growing rift with Ms Merkel over Britain's/England refusal to consider a financial transactions tax, which could generate tens of billions of euros a year to recoup some of the costs to taxpayers of countering the crisis and calming markets.

Mr Cameron says the fall-out would hit the City of London hardest and drive financial business out of Europe.

He will repeat today that Britain/England would only back such a tax if it was applied globally, to create a level playing field.

Earlier, Business Secretary Vincent Cable said Germany's stance on the transaction tax was "completely unjustified."

Germany and France want the tax levied on all dealings between financial institutions, meaning Britain could be left outside of key decision making in the Eurozone.

The German chancellor is seeking limited changes to the European Union treaty to provide stricter fiscal discipline within the 17-nation Eurozone, in hopes of preventing another debt crisis like the one currently spreading across the continent.

But Mr Cameron is to push for any such change to be limited to the Eurozone nations.
And if that is the case, it’s time Cameron start thinking of pulling out of the Eurozone and let them sort out their own mess, as it was the EU and its Euro that started it in the first place not England, England does not need the EU but the EU needs England?

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