I think this is going a bit too far....

http://blogs.telegraph.co.uk/finance/am ... er-closer/

We clearly can’t manage it ourselves, and we’re heading towards a Greece style meltdown. Anything to point us in the right direction would be welcome. I don’t trust Osbourne to make any correct decision, so I’d say yes to this.

I agree with the first part.

However, having the EU check your accounts to tell you where you're going wrong is rather like having an alcoholic look after your drinks cabinet.

"I for one welcome our evil overlords"

yeah go democracy...

Well on the last 2 budgets the chancellor has changed details having left No 11 on his way to the house to present the budget speech........... and quite large sections aren't frozen much before 2 am on the day. So how the EU can check it in advance is beyond me.

Well, the UK signed up for it... It is good that they managed to sort themselves out get a government together - with a hung parliament and no clear prime minister, all decisions related to the running of the country fall back on the EU (part of the Lisabon Treaty).

+1

In what way? The last time I checked, the reason that EU accounts don't get signed off is because Member States don't audit properly - money from grants from the EU goes "missing", and no-one knows where. The Commission are just as frustrated with crap auditing skills of Member States as everyone else.

To my mind, the EC can't really vet budgets and potentially make criticisms/suggestions when they're effectively a laughing stock cos of the above

Try telling them that. Most or obssessed with power and will stop at nothing to grab as many of them as they can.

This only applies to countries who use the Euro as their currency. We do not so it will not affect us. If we sign up for the Euro then yes it would but that would be a good thing. If done years ago it would have stopped Gordon's spending binges in the past. It would not be so bad now.