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No2EU calls for EU exit referendum

NO2EU campaigners demanded an emergency referendum on Britain's membership of the European Union today amid warnings of a catastrophic financial crash.

MPs and economists issued doom-laden predictions of a world banking panic sparked by the deep economic crisis in Greece and its impact on the tottering eurozone.

No2EU spokesman Brian Denny declared: "Struggling countries like Greece, Ireland and Portugal are spiralling into further crises due to EU policies.

“No amount of bail-outs and loans will stop it as they cannot devalue their currencies while locked into the eurozone.”

Mr Denny urged trade unions and the labour movement to back the cross-party People's Pledge campaign for a referendum on Britain's EU membership.

He added that new demands on Greece for endless austerity, privatisation and other “hard-line sado-monetarist policies” were aimed at bailing out big European banks which owned the Greek debt – not the people of Greece or anyone else.

Protests gripped Greece yesterday as the country's rulers attempted to force through Parliament further vicious cuts and privatisations demanded by EU chiefs and the International Monetary Fund (IMF).

Prime Minister David Cameron denied that Britain will get directly involved in the latest £10 billion bailout scheme for Greece.

“It would be quite wrong now to bring Britain into this bailout,” he said.

However, he admitted that “of course we have a role as a member of the IMF.”

Faced with surging discontent on the Tory benches over EU policies and the impact of the eurozone crisis Mr Cameron reiterated: “As long as I am Prime Minister, there is no prospect of Britain joining the eurozone.”

Left Labour MP Kelvin Hopkins warned that “the realistic choice is between a controlled destruction of the euro and the restoration of national currencies, or a crash that would be catastrophic for everyone.”

Sefton Central Labour MP Bill Esterson attempted to discover how much Britain is paying for the Greek bail-out via the IMF, only to receive an evasive Commons answer from Treasury minister Mark Hoban.

Former Labour cabinet minister Jack Straw proclaimed that “the euro in its current form is going to collapse.”

He said financial agencies were reporting that “the exposure of British public and private sector banks to Greek debt is €13bn (£11.5bn), and that of Germany and France €34bn (£30bn) and €53bn (£47bn).”

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This document was last modified by Mick Carty on 2011-06-22 11:53:29.
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