i agree,i mean i don't know enough about it to fully comment but why should the icelandic taxpayer pay for stockmarket gambles,it was also the dutch wasn't it,i love how britain gets singled out by everyone worldwide like we are the only ones playing the game

but yeah i htink people were crying here because it was stupid councils gambling with peoples money and isn't it something about the icelandic banks not being/being in some form of european treaty and rules,i don't actually no but i don't see why people whine when they lose on the markets

but that is the main problem with the financial system its win,win and fuck society but the euro isn't the answer for me in its current state,why don't the europhiles just say they want one govt and currency and bank and no borders and be honest intsead of lying about what they really want,merkozy can't solve europes problem how it stands now,not a chance in hell,standards of living will be falling alot lower than they are now across europe,the leaders need to wake up and start beiong honest about this,the eu and euro is heading for a brick wall very fast

I thought it was the right decision. The UK only benefits from Europe in the free trade area, greater integration wouldn't help but would be more risky.

The financial sector transaction tax would be a tax on London disproportionately, but end up funding the debt of the Euro countries with poor fiscal management.

I want those countries to default immediately (actually I want the US and UK to default as well). Nothing would be worse than it is now but we would be free of debt.

I agree.

Though honestly, that wouldn't help the Eurpeon Crisis as it is now.

The icelandic problem and the current soverign debt issue are two hugely different issues.

The Icelandic problem was that it's banks collapsed and that might bring the governments down.

The Greek/Italy/Spain/Portugal problem is that their governments are the ones that will collapse bringing the banks down with them.

Basically picture the big deal made about the debt ceiling debate in the US... except you owe more money in interest than you actually bring in, in a year.

Well to be fair Europe is being increasingly dominated by Germany...

Spain and Italy influence and power has shrunk dramatically in Europe

The UK has a lot of trouble buts it has a lot of money and power.

Leaving the EU would be very easy. If the UK were to hold a referendum and the correct result came through, the UK could be out in a matter of months. The problem is that we'll be the on the wrong side of a lot of protectionist barriers (as you say so)... I question whether that will matter much in the coming years, not much trade will be coming out of that bloc.

Default wouldn't do much good when you're still running a deficit, as you simply wouldn't be able to borrow the money to fund that deficit... which means it'd be entirely done through printing money. US and UK defaults would kill the financial sector, which will hurt savers and pensioners the most (and a hell of a lot).

Quite the opposite. I've never been quite so proud of David Cameron as the day he used that veto.

He was talking about standing up to Europe during the election, but with everything he's been doing, especially given the current European circumstances, I never thought he would do it.

I doubt we even need that EU referendum now. Merkel and Sarkozy will kick us out within a few months. With luck, soon the countries of Europe will see the folly of creating a single currency, realise that their bureaucratic Union isn't working, and dismantle the whole thing, perhaps to be replaced by a democratic and accountable organisation based on co-operation rather than dictation of terms.

To be honest, Germany and France have been sick and tired of us since the day we refused to join the Euro. We've been completely unhelpful. We're not trying to make this union work (because we recognise that it can't work) and yet we've kept appeasing the EU in the vain hope that maybe, somehow, everything would work out fine. This has always been a choice between full integration and full exclusion, and I think Germany and France would be happy with either.

I really don't see them throwing up enormous tariffs against their biggest trade partner for the sake of spite.

Well its a German Dominated Europe, The British on their Island and the crazy Russians at the side.


Reminds me of a time a 100 years ago...


lol

You Brits should better listen to your vice PM, that's a smart man.