Hyperventilation Charade: EU Demands Another €2.1 Billion from UK, "We Won't Pay," Says Furious Cameron

Things are about to get more interesting in the EU as a review of budget procedures shows the UK, Greece, and Italy owe more money, but Germany and France will get money back.

Curiously, this came about following a review of non-profit organizations from churches and universities to trade unions, charities and sports clubs. The time period is 2002-2009.

Cameron's Obvious Bluff

UK prime minister David Cameron is already battling French President Francois Hollande abroad, and UKIP at home.

Thus, Cameron's limited choice is to bluff as usual: "We Won't Pay," Says Furious Cameron.

In a vivid display of public fury at European Union technocrats, British Prime Minister David Cameron refused to pay a surprise 2.1-billion-euro bill on Friday as EU leaders ordered an urgent review of how the budget figures were arrived at.

"It's an appalling way to behave," Cameron said. "I'm not paying that bill on Dec. 1. If people think I am they've got another thing coming. It is not going to happen."

EU ministers will hold an emergency meeting on the issue next month. Cameron said he wanted to understand the technical calculations and was also ready to mount a legal challenge.

EU officials insisted the revision, which also saw Italy and even crisis-hit Greece asked to pay more while France and Germany would get rebates, was part of an annual statistical exercise handled by civil servants, not politicians.

Cameron noted that annual revisions to the payments had never been so great - an effect, EU officials said, of a once-in-a-generation review of how national incomes are calculated that found Britain was richer than it had previously declared.

Officials at EU statistics office Eurostat said that was a result mainly of taking more account of money flowing in 2002-09 to non-profit organizations - from churches and universities to trade unions, charities and sports clubs.

Cameron has demanded reforms and plans a referendum on EU membership if he manages to secure re-election next May.

His Eurosceptic opponents, gaining ground fast on his Conservative Party, accused the premier of misleading voters.

"David Cameron once claimed that he had reduced the EU budget -- but the UK contribution went up and now, quite incredibly, our contribution goes up a second time. It's just outrageous," said UKIP leader Nigel Farage.

"The EU is like a thirsty vampire feasting on UK taxpayers' blood. We need to protect the innocent victims who are us."

Hyperventilation Charade

It's easy to see through Cameron's hyperventilation charade.

Cameron did not really say "We won't pay" as the Reuters headline states. Rather, Cameron stated "I'm not paying that bill on Dec. 1".

The latter statement would be true if Cameron paid the bill on any date before or after December 1, or the amount changed by a penny.

This is the kind of wishy-washy nonsense that Cameron pulls all the time. Unfortunately, conservative believers fall for it every time.

Similarly, Cameron promises an up-down vote on UK membership in the EU, but only if he is reelected. Would he even keep that promise? Who the hell knows?

Cameron's pledge is to first get the EU to change its rules more to the UK's liking. If he succeeds, then and only then will he offer the vote (and of course he has to win reelection on top of it).

Odds Cameron gets the rule changes he seeks are approximately 0%. You know it, I know it, the world knows it, and even Cameron knows it.

The promise of a 2017 up-down vote is nothing more than an election ploy coupled with blatant arrogance.

Liar, Not a Conservative

As I have stated before, Cameron is a liar, not a conservative. He is in a coalition bed with the Liberal-Democrats, a pro-euro, pro-Labour, pro-climate-change, free education, and progressive tax party.

With that set of bed-mates, no conservative in their right mind should believe a damn thing he claims to stand for.

Mike "Mish" Shedlock
http://globaleconomicanalysis.blogspot.com