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gruffydd

Merkel Urges G20 Focus On Regulation

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http://www.ft.com/cms/s/0/268529ce-a8ec-11...?nclick_check=1

...Ms Merkel criticised London for neglecting to address the long-term fiscal impact of growth-boosting measures: “We should not – and this is a big issue in our talks with our British friends – push for higher growth and say we’re not interested in how we do it. This has to be sustainable growth.â€

...In a clear jibe at London, he said he expected “all EU member states†present in Pittsburgh to back this week’s European Commission proposals on a tougher financial market rulebook “and to work towards their implementation.â€

...Asked whether he thought the British government was softening its position on financial regulation under pressure from the City of London, Mr Steinbrück said: “It’s not just my perception. If you listen around, many think there is massive lobbying for hard-nosed regional interests going on.â€

“Resistance from Wall Street and the City,†he said, was legitimate but should not be allowed to derail an international agreement on tougher financial market rules.

Edited by gruffydd

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“Resistance from Wall Street and the City,†he said, was legitimate but should not be allowed to derail an international agreement on tougher financial market rules.

Reminds me of another of this government's overwhelming disgraces.

When the police ask for police-state powers, fair enough: that's taking a negotiating position. They can lobby, just as Wall Street and the City can.

When the government grant them all they ask for and then more, that's .. um ... I was going to say a cop-out ...

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Merkel has an election to win on Sunday and needs to appeal to centre left voters - she might take a different view next week when she enters into an expected coalition with the free market Free Democrats. :lol:

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Can't she just ask the Luftwaffe to finish off the job?

This time they will be cheered by the British public.

Yup the square mile and Canary Wharf reduced to rubble.

"come friendly bombs and fall on..."

McTwat was pushing for GLOBAL regulation, but a dare say a few bun.. err donations and a directorship or two are headed his way.

Edited by SavingForAShed

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