Douglas Carswell's Blog

Lisbon Treaty requires us to bailout

Ministers want us to believe that the massive bilateral loan we're about to give to bail out the Euro is made at their discretion.  Simply not the case.

It is the case that being outside the Euro, we're not having to stump up the cash through the European Stability Fund.    

But we're actually paying through something called the "European stabilisation mechanism".  It was established by Article 122 of the Lisbon Treaty, no less.

It means the decision on whether we pay or not is subject to qualified majority voting.  In other words, even if ministers said "no", we'd still have to cough up.   

Ministers are not the authors of this deal.  It seems they're required to by the Lisbon Treaty.

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