Friday, November 4, 2011

Good money after bad

The G20 is over and, not unexpectedly, the outcome is to boost IMF resources for further bail-outs "to boost growth and rebalance the global economy". Details to be announced and the plans to be put into place by February 2012. Well, a lot of things can happen between now and then but if these plans are put into place and if HMG agrees (which it will, as the Boy-King has made clear) then there will be a vote in the Commons. How will all our rebels vote then and how many of them will go through both lobbies in order to acquire a reputation without paying the price?

France and Germany are also in favour of a financial transaction tax and, according to Sarko, hope it will be implemented in 2012, presumably before the French presidential elections. As far as we know HMG is against this idea that is likely to cripple the City but boost governmental income for a little while.

1 comment:

  1. Our real government is over the water in Brussels.