In a major intervention, the backbenchers have written to the Prime Minister urging him to change the law to give the Commons authority to block new EU legislation and repeal existing measures that threaten Britain’s “national interests”.
Such powers would enable the Government to reverse the spread of human rights law, relieve businesses of red tape from Brussels and regain control over immigration, they say. They believe the veto is possible with a new Act of Parliament.
At least six more Tory MPs back the letter, but are unable formally to put their names to its demands – some because they are in government jobs.
David Cameron has promised to renegotiate the terms of Britain’s relationship with Brussels and put the arrangement before voters in a referendum by 2017, which would give the public the option to leave the European Union.
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Dutch finance minister Jeroen Dijsselbloem, who leads up the Eurogroup of eurozone finance ministers, has told Chinese leaders that the bloc's low inflation does not pose a danger to its nascent economic recovery. Figures released last week showed that eurozone core inflation, which excludes food and energy prices, fell to 0.7pc, the lowest since the monetary union was created. The European Central Bank's target inflation is close to but just below 2pc.
Dijsselbloem was visiting China with Olli Rehn, the European commissioner in charge of economic and monetary affairs. They were expected to reassure Chinese leaders, including Minister of Finance Lou Jiwei, central bank governor Zhou Xiaochuan and Vice Premier Ma Kai, that the euro zone recovery is on sound footing.
Countries have the right to veto Stress tests on certain banks or divisions of banks. PostBank, who carefully lent an unsecured 500 million to nomenclatura, have been carefully erased from the list.
I spoke with an ex-head of the National Bank this morning who mentioned that 'veto' was the only way to stop the test, thus I imply the audit rules are the same pan-Europe, but with a whopping cop-out.
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