Merkel's plan to steal UK cash for Greece

The poor German voter, though likely to vote Angela back into power next month, is becoming increasingly unwilling to bear the brunt of Greece’s next bailout – likely, when it comes to it, to be significantly larger than the figure now being ‘leaked’ by the Commission. And since German investors also have the most to lose from a ‘haircut’ on the Greek banks this is not too popular an option either. The latest wheeze is to increase an EU handout of structural funds – ERDF as we know it in the UK – by the value of the bailout, allowing Greece to use existing domestic funds for the bailout. Except of course that non-Euro nations such as the UK pay for ERDF. 

ERDF has traditionally been the mechanism by which tax funds from northern Europe are transferred by the EU to the Mafia and other criminal organisations and to bent and corrupt politicians across the Olive belt. The remainder is used to build motorways going nowhere and unused airports. Greece is a nation notoriously infested with bent and corrupt politicians, who no doubt have recently been feeling the pinch in the proceeds of theft, fraud and peculation. The latest bail out will be designed to buy-back their loyalty to the Commission. Getting the UK to contribute to this is the icing on the cake for Merkel.