Friday, June 25, 2010

Who is in charge?

Yes I know, we will get a referendum if a new Treaty hands over extra powers to Brussels, yes yes.But what if more powers are handed over to Brussels without the need fort a new Treaty? What if enough power was handed over to Brussels by the Lisbon Treaty to make significant changes? What if the powers of the EU are in flux, so far untested by the European Court of Justice?

What if, to take one example the Government were boasting about a change to the financial regulatory system?
“We will put the bank of England in charge of the prudential supervision of our banks, our building societies and our other significant financial institutions.
What if they were bigging up the role of the Bank of England and essentially kyboshing the failed FSA. What if that was utterly irrelevant because the ball has already been passed over the Channel? Would we get a referendum then?That is of course what has happened
(Hector) Sants and FSA chairman Lord Turner said British regulators would still be responsible for ensuring European policy is correctly implemented by City institutions.
Aren't they generous to let us comply with their system, are not Turner and Sants later day Capo, doing Brussel's dirty work for them, whilst providing a national fig leaf to take the blame and the flak.

Yup, there you have it, the take over of the City by Brussels
Where is George, where are the City chiefs? Why are they not fighting this tooth and nail.

That time tested old excuse, you know the mantra.

Don’t be ridiculous,

They don’t mean that,

Oh sorry it is too late

2 comments:

Witterings From Witney said...

You beat me to this GT.

Is not losing control of the ability to regulate one's financial dealings a loss of power? Exactly!

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