Apparently a genuine offer from a mysterious shadowy consortium 'Foundation X' and the Treasury has decided not to pursue the offer for reasons not made clear. 

This is the first I've heard of it and I can't even find it on the Sky News site where it should be - but it is genuine.  Apparently the Treasury suspected it may be something cooked up by Peter Mandelson to stitch them up with hidden cameras or the Bilderburg Group. Either way, it's either a gigantic con (more likely than not IMO) trick by the peer/those speaking to him or genuine and negotiations may well be taking place unknown to us.

Maybe these are some of those kind Nigerian gentlemen, who often send out emails.

I was listening to them today,  driving my daughter to different appointments and waiting in the car. IMHO, we aren't told the truth and, unless we are economical wizzards, we have no chance in catching up.

We aren't told the truth about so many things. You know that saying "the truth shall set you free" ?  we're not told the truth because "they" don't want us to be free

Assuming that Foundation X is genuine, and David James's background is such that he would be able to make a sound opinion, there is the small problem that financial assistance of this nature would in all likelyhood be subject to vetting and approval by the EEC. It would be hard for one EEC country to receive major financial support without other EEC countries being able to participate on an equal basis.

As a result I can understand why the government would be a bit nervous. Also, I find it hard to believe that any organisation is prepared to advance interest free loans with no repayment schedule tied in. For any organisation to invest money, there has to be a benefit to them, and if it's not a financial benefit, then it can only be power, and that would make any government worried.