NEWS RELEASE

21 June 2011: Release time immediate

DON’T BAIL OUT THE BANKERS AGAIN!

The Campaign for an Independent Britain (CIB) has welcomed the assurance by the Government that the UK will not participate in any European Union bailout of Greece, but has expressed amazement that Ministers have declined to rule out the possibility of British taxpayers’ money being used again (as in May last year) for an IMF-led rescue package for Greece. In CIB’s view, Britain must not be involved in any bailout as the only people to benefit would be the EU and the bankers.

“The EU and the international bankers want to prop up Greece purely in order to save the collapsing Euro and subsidize the bloated banks,” said CIB spokesman Andy Smith. “By participating in another Greek bailout, we would not be helping the poor Greeks at all. They would just be even more in hock to the bankers. The fact is that the European Single Currency is dead in the water, and the British Government should recognize this. Instead, amazingly, George Osborne’s deputy, Mark Hoban, stood up in the House of Commons yesterday and said that Britain still has ‘a strong interest in the continued stability of the Eurozone’. This is madness. The game is over for the Euro, and indeed for the EU itself, and the Government should acknowledge the fact.”

Greece should cut itself free from the Eurozone and devalue, added Andy Smith. “Instead of pushing themselves deeper into debt, the Greeks should focus on rebuilding their economy through an export drive, as London Mayor Boris Johnson has suggested. No country can escape from such a burden of debt while it still has a massively negative balance of payments. We need a dose of reality and common sense – but unfortunately we are not hearing this from the British Government. Coalition policy on Europe is being dictated by the Liberal Democrats and by Conservative Europhiles. Unless and until the Government recognizes that the Euro experiment has reached the end of the line, hard-pressed British taxpayers will continue to be called upon to subsidize the EU and the international banks. But then that is what the European Union is all about. It is the bankers’ Europe, not the people’s Europe.”

-Ends

Press contact: Andrew Smith, Press Officer, Campaign for an Independent Britain, tel: 07737 271676 07737 271676.

Editor’s note: The Campaign for an Independent Britain is a cross-party pressure-group calling for the United Kingdom’s withdrawal from the European Union. Its Parliamentary members include Lord Stoddart (Independent Labour), Lord Pearson (UKIP), Philip Hollobone MP (Conservative), Austin Mitchell MP (Labour) and Mark Reckless MP (Conservative). CIB publishes a quarterly newspaper, Free Britain. For more information go to the CIB website, www.FreeBritain.org.uk.