I've long held that a government's - the taxpayer's - liability towards banks should extend only to underwriting domestic retail and commercial business, leaving the whole buccaneer banking business to survive or fail on its own merits, paying whatever bonuses it wishes, but without the hope of a penny of tax bailout. Brown first missed his chance to split the banks in 2008; another chance has arisen, but I don't believe 'bottler' Brown will take it.
There's a whip-round going on to bail out the feckless Greeks, but Greece's fellow eurozone nations are unwilling to put up all the cash themselves. The EU can force the UK to contribute under existing EU legislation - and we pay 20% of the EU bill, so our contribution could be substantial.
Brown's position is that either the eurozone countries should pay - or the G20 nations. And the reason is the banks. You see, our gormless buccaneer banks have lent £250bn to the PIGS (Portugal, Ireland, Italy, Greece and Spain) and if Greece goes bust, they will default on the debt, and the banks will come running to Gordon for more tax money to save them. And other G20 nations such as the Swissies are just as badly exposed.
Enough is enough. No more money for the banks; no more money to prop up the euro. It's time to split the banks, let the overexposed buccaneers fail and save the retail parts. Let them go. It's also time to let the French and Germans either crap or get off the pot - let Greece go or pay its debts. But not a penny more in my name.