Global socialism begins in Europe

The European Union has agreed to begin a vast transfer of wealth from rich nations to poor by agreeing to throw over US$150 billion every year by 2020 at developing countries to “tackle climate change”:

European Union leaders on Friday reached a deal on how to help developing nations tackle climate change, but without putting a figure to Europe’s contribution, officials said.

We have an agreement,” said Swedish Prime Minister Fredrik Reinfeldt, at the end of a two-day European summit in Brussels.

“The EU now has a strong negotiating position and the countdown to Copenhagen now has started,” he added, referring to international climate talks in Denmark in December.

“We can now look the rest of the world in the eyes and say we Europeans have done our job,” said EU Commission chief Jose Manuel Barroso at the summit-closing press conference.

“It was essential that the European Union kept its leadership role and we have done that,” he added.

But there is plenty of smoke and mirrors in this announcement, as the leaders are strangely reluctant to actually publish their individual contributions to this huge bill. And Barroso put the inevitable caveat on the agreement, something that Rudd & Co seem unable to grasp in their rush to implement an ETS:

He cautioned that the EU “offers are not a blank cheque… we are ready to act if our partners are ready to deliver.”

Read it here.

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