Thursday, Jun 18, 2009
A pincer movement on Britain
Telegraph: UK 'powerless' to stop EU regulation
A senior French official has confirmed Gordon Brown is almost powerless to stop the creation of a European regulatory machinery at today's EU summit, opening the way for a transfer of control over the City from London to Brussels.
Posted by devo @ 08:21 AM (569 views) Add Comment
5 Comments
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1. doomwatch said...
Someone heard, allegedly, that some FSA staff are moving to Brussels.
2. uncle tom said...
"Someone heard, allegedly, that some FSA staff are moving to Brussels."
They were useless here, so let someone else pay their wages..
Britain is never 'powerless' against Brussels - not unless you believe that the massed armies of the EU are about to dust off operation Sea Lion..
3. mander said...
City does not want regulation they still want to trade non existent things like derivatives. Nevermid light regulation to be introduced by the US and Europe. It looks like no regulation at all is the answer for them to be able to bubble.
4. ted the red said...
No-one seems to consider the possibility that they might make a better job of it.
The objection seems to be that they don't like hedge funds very much.
Neither do I.
5. Earth said...
Didn't Obama and the democrats oppose preventative measures against NINJA loans? Now it's lead to a collapse he is sucking up to the French and the EU so they can regulate away our last money maker. They might have regulated Wall Street but it's regulated by their own nation. This is just one bug scam.