Treasury Denies Secret ECB Contingency PlanRevokes Trading With Enemy Legislation Without Debate

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Previously Seen

TUESDAY, JUNE 12, 2012

Treasury Denies Secret ECB Contingency Plan
Revokes Trading With Enemy Legislation Without Debate

The Treasury has denied to Guido that a discreet Statutory Instrument is part of a secret contingency plan preparing for the potential collapse of the European Central Bank. At the end of May the government rushed through an order revoking the 1939 Trading with the Enemy Act, which prevented the UK from trading so-called Negotiable Instruments with former enemies – including former enemy Axis powers. The Act will now allow the UK to trade complex debt packages directly with EU countries, effectively allowing us to directly provide bailouts for European states unable to repay the money they owe to their British counterparts. Greece is on the list of countries that have had their enemy status revoked.

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The SI was slipped through before the Jubilee break at the end of May. Senior Treasury sources ignored questions, until finally a junior press spokesman then directed Guido to BIS. When Guido pointed out it was clearly a Treasury initiated Statutory Instrument they tried to play down the impact of the order, insisting that the existing legislation was obsolete and that it was simply an attempt to clean up the statute book. Yet with the Eurozone entering a new critical phase of financial crisis, the timing seems more than a coincidence…

TUESDAY, JUNE 12, 2012

Treasury Denies Secret ECB Contingency Plan
Revokes Trading With Enemy Legislation Without Debate

The Treasury has denied to Guido that a discreet Statutory Instrument is part of a secret contingency plan preparing for the potential collapse of the European Central Bank. At the end of May the government rushed through an order revoking the 1939 Trading with the Enemy Act, which prevented the UK from trading so-called Negotiable Instruments with former enemies – including former enemy Axis powers. The Act will now allow the UK to trade complex debt packages directly with EU countries, effectively allowing us to directly provide bailouts for European states unable to repay the money they owe to their British counterparts. Greece is on the list of countries that have had their enemy status revoked.

View this document on Scribd

The SI was slipped through before the Jubilee break at the end of May. Senior Treasury sources ignored questions, until finally a junior press spokesman then directed Guido to BIS. When Guido pointed out it was clearly a Treasury initiated Statutory Instrument they tried to play down the impact of the order, insisting that the existing legislation was obsolete and that it was simply an attempt to clean up the statute book. Yet with the Eurozone entering a new critical phase of financial crisis, the timing seems more than a coincidence…

Warsi’s Spice Partner Took Labour MP on Expenses-Paid Trip
Abid Hussain Linked to Pakistan ISI Spy Agency Front Group

In the Daily Star Sunday yesterday Guido picked up on Labour’s own links to Abid Hussain – Warsi’s in-law and business partner at the centre of her recent troubles. This former Hizb ut-Tahrir insider travelled to Pakistan with the Tory chairman in 2010, but that’s not the only politician he has got close to. In the same summer Hussain was travelling with Warsi, he was also organising dinners attended by Labour’s rising star Stella Creasy. As the pictures above show, Hussain was also helped out on David Miliband’s leadership campaign. Creasy has also campaigned with Hussain on local issues, though she was quick to distance herself from him on Friday when we pressed her…

The connections didn’t stop there. Normally bruiser Simon Danczuk would be one of the first out of the traps when it comes to attacking the government, however on this one he’s been very quiet. Could it be because last year he too travelled all-expenses paid to Pakistan, going to meetings set up by the same Abid Hussain?

Danczuk’s expenses were paid by the Kashmir Centre, which is a front for the Pakistani spy agency ISI. Six months after the trip with the All Party Group on Kashmir the FBI arrested and charged Syed Ghulam Nabi Fai, the head of the Kashmir Centre, for conspiring to act as an agent of a foreign power.

Although Danczuk did declare the trip in the Register of Interests, he did not reveal that the “staff member” who accompanied him on the trip was his then partner, now wife, Karen Burke. The rules state that any trips“made by Members or their spouses or partners, which in any way arise out of membership of the House, where the cost of any such visit has not been wholly borne by the Member or by United Kingdom public funds”must be declared. Despite ignoring questions last Friday, Danczuk’s staffer managed to call today, though he asked Guido not to run his explanation.Over to you Simon…

Union Turns on Blairites in Labour Bloodbath

The GMB Congress has descended into an even bigger farce than expected after it passed a motion to outlaw Blairite pressure group Progress from the Labour Party. In a frothing attack, the GMB slammed Progress for accepting the need for spending cuts, undermining Ken Livingstone’s campaign and briefing against Ed Miliband to the press. The decision of Progress patron Lord Sainsbury to stop donating to the party might also have something to do with it…

The motion, which lays into Miliband and Balls for failing to bring about a socialist revolution, appears to be part of a summer putsch of centre-left Labour figures. At least this means Dan Hodges will have some company. Their ten point lead in the polls should see Labour go into their most buoyant conference in years, yet it seems the left are determined to turn it in to a witch-hunt…

UPDATE: Dan Hodges was for three years up until 2003 the GMB’s director of communications.