I'm inclined to believe George Osbourne when he denies any wrong doing about discussing illegal donations, if only because the sum of money involved, £50000, is hardly worth breaking the law over in the context of a multi million pound party budget. It also feels like a Mandelson smear campaign.
Having said that anyone who can't see trouble ahead when dining aboard the yacht of a Russian Oligarch with an EU Commissioner and a scion of the world's most famous banking dynasty needs their head examined. It reinforces the idea of Britain being run by a small political class who regardless of nominal ideology have far more in common with each other than with those they represent.
Update: The Pub Philosopher has a good post on this subject. The role of Nat Rothschild in this is particularly interesting, how dare he find it outrageous when someone blows the whistle on a secret meeting between Oligarchs, politicians and EU Commissioners! His attitude is disgraceful.
The tin tabernacle near Long Eaton station
21 minutes ago