Growth & Stability Pact

It may be unofficially dead, but it has not totally gone away. If we had joined the Euro, as the eminently elect-able Mr Clarke wished, we would now be in trouble.

The UK government was in breach of the 3.0 pct of GDP budget deficit limit imposed by the EU's controversial growth and stability pact for the second year running in the year to April 2005, official figures revealed.

Grabber Gordon’s “drunken sailor on leave” approach to public spending has finally caught up with him. What’s the betting that had we surrendered our fiscal sovereignty, he would be even now as we speak receiving a dressing down, from some humourless Eurocrat.