Cameron, in demanding the commitment of ministers to the outcome of the renegotiations, is playing fast and loose with words … as so often.
The manifesto commitment is this:
It will be a fundamental principle of a future Conservative Government that membership of the European Union depends on the consent of the British people – and in recent years that consent has worn wafer-thin. That’s why, after the election, we will negotiate a new settlement for Britain in Europe, and then ask the British people whether they want to stay in the EU on this reformed basis or leave. David Cameron has committed that he will only lead a government that offers an in-out referendum. We will hold that in-out referendum before the end of 2017 and respect the outcome.
Cameron is turning this into a battle between his government and the people.
Read more http://eureferendum.com/blogview.aspx?blogno=85621
Let battle commence?
So precisely what is a “bail-in”?
Essentially, what happens is that wealth is transferred from the “stakeholders” in the bank to the bank itself in order to keep it solvent. That means that creditors and shareholders could potentially lose everything if a major bank in Europe fails. And if their “contributions” are not enough to save the bank, those holding private bank accounts will have to take “haircuts” just like we saw in Cyprus. In fact, the travesty that we witnessed in Cyprus is being used as a “template” for much of the new legislation that is being enacted all over Europe.
The bottom line is that not a single bank account in the European Union will ever be truly safe again.
Brussels – The institutions have reached an agreement regarding the proposal they are going to present to Greece, European officials have told Kathimerini.
They expect to inform Athens about the proposal on Wednesday but it has not yet been decided whether there will be a teleconference with Prime Minister Alexis Tsipras or whether a meeting in person will be arranged.