21-11-2016, 07:10 PM
31
Re: Another Legal Challenge.
Originally Posted by swimfeeders
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HiThere are many reasons to leave the EU, Nigel was right on that, money was never one of them.
How much money did the UK have to pay out to help support the Euro broken failed economies of other EU states?
The UK has provided a total of €6.5bn (£5bn) via the EU for two bailouts: €3bn for Ireland in November 2010 and €3.5bn for Portugal in May 2011.
The UK didn't directly bailout Greece, Spain or Cyprus however, the IMF (International Monetary Fund) DID help bail them out by arranging loans for those bail-outs.
The UK has to pay a share of whatever the IMF provides and that share is around 4.5% of the total. It amounts to around €4.5bn for all seven EU bailouts.
In addition, in 2010, the UK provided €3.9bn in bilateral bailout loans to its neighbour and important trading partner - Ireland.
In 2015, when the third Greek bailout was agreed, Greece was also given a short term bridging loan of €7bn from an EU-wide fund which can provide loans to any EU country in financial difficulty. The fund is financed by borrowing against the EU Budget. The UK would have been indirectly liable for around €855 million (£598m) of the loan, through its share in the EU Budget.
(info from http://www.bbc.co.uk/news/uk-politic...endum-36456277)
It should be understood therefore that being a member of the Federal States of Europe means that as a country, we pay billions towards the cock-ups of the failed central EU attempts to squeeze a mass of diverse economies into a single currency. Money for the EU agenda and aims rather than for the best interests of the UK.
That's some £10 Billion that could have been spent on the NHS, education, mental health and a load of other good causes.
The "one size fits all" EU mantra doesn't work and costs us a fortune.
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