The EU proposals, concerning loans below the value of €25,000, will go some way to giving a freehand to those who wish to exploit people without the UK authorities being able to rule that such exploitation is illegal.

Commission Communication:
A European initiative for the development of micro-credit in support of growth and employment COM(07) 708

UK TO UNDERWRITE THE LOSSES OF THE EUROPEAN INVESTMENT BANK
British taxpayer at risk from the European Investment Bank (EIB) being encouraged to spend billions abroad.
The EU plans to expand the activities of the EIB so that it can spend more outside of the European Union with the member states being liable for any losses. The burden in these uncertain economic times will heavily fall upon the UK.

The European Union proposals will place increased costs on the taxpayer at an increased risk, but for less benefit as most of the money will go overseas.

Draft Decision granting a Community guarantee to the European Investment Bank against losses under loans and loan guarantees for projects outside the Community COM(08) 910