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Written by Austin Mitchell
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03 September 2007 |
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When is a Constitution not a constitution? When it`s a European Constitution. Then it`s Speak no Constitution. See no Constitution. Hear no Constitution. Even though it`s more like a Constitution than, say, elephant droppings.
David Millipede says it`s elephant droppings. No need to vote on them. Just sniff.
Balls. Elephant Balls. Other governments are saying this is the essence of the Giscard Constitution. The Commission has got all it wanted. Read the proposals and see that the “Reform Treaty” is 90% of the Monster Treaty. They`re trying to fool us. Again. We promised a referendum. Let`s have it. Otherwise we`re locked in the Euro-Jail.
Watching Alex Salmond`s “Scottish Priorities” Statement fills me with envy. A small nation. A huge opportunity. A skilful leader talking sense. A glittering prospect. Would we had that choice in Yorkshire. Alex`s doing a brilliant job.
The media pump will inflate this as a winter of discontent. It isn`t. But there is a public sector pay problem and we shouldn`t fight it. You can`t squeeze the nurses and overpay the doctors; hold the underground workers, prison officers and public sector workers and let executive pay rocket, or keep low pay low and allow directors` pay (up 37% this year, 28% last) explode while doing nothing about it.
To keep up the squeeze means strikes, stoppages and go slows. Prison officers are already showing the way.
A cave-in may be damaging. But there are always ways of walking backwards out of pay problems. Take it. Talk tough. Act soft.
Merv King: Learn from Churchill (Dog) Say “Oh Yes”!
Barclays wants more liquidity so the Bank can bail out the money markets. They should – both the Fed and the Euro Bank already have. But the problem won`t go away until they reduce interest rates too.
Our huge debt problem is amplified when debts are rolled up and sold on as investments for Hedge Funds.
The Funds aren`t regulated and run on Gadarine lines. There aren`t enough whiz kid managers around. So they all do the same as each other.
If the debts at the bottom of the mountain (here or in the US) are bad, or turn sour as interest rates rise, confidence and ratings collapse. Then there`s a Gadarine rush to dump debts but not enough liquidity to allow it. Funds collapse. Liquidity crisis worsens, Barclays needs high interest draw-downs. Stiff upper lip twitches. This could get messy. Unless the Bank cuts interest rates. |
