SIR – I fear Britain can already be forced to bail out Greece under EU Treaties (report, “EU draws up plans for single 'economic government’”, March 26). The Government admitted to me in the Lords on March 15 that “any request for financial support… would be considered by the… Council, where it would be voted on by a qualified majority”.The letter was in reply to a piece by Bruno Waterfield on March 25, in which he talked of Van Rompuy's "mission ... to draw up a master-plan for the best way to oversee and enforce economic targets set in Brussels as a key part of a bail-out package for Greece". The last paragraph of the letter was edited out but was used in a speech in the House of Lords on March 30, which will be blogged next.
I also fear that the euro’s difficulties will not break up the EU itself, as many now hope. Even if Greece, Portugal, Spain, Italy and Ireland all fall out of the euro, it will not stop the European integration project.
Instead, it will be taken by the Eurocrats as the best “beneficial crisis” yet, to be overcome with “more Europe” under the powers granted at Lisbon.
Wednesday, 7 April 2010
Letter in the Daily Telegraph on a possible Greek bail-out
On March 27, Lord Pearson had a letter in the Daily Telegraph [scroll down to second topic], in which he touched on the possibility of Britain being forced to help bail out Greece and on the chances of the euro's problems being used by the colleagues in Brussels as a "beneficial crisis".