Yet another attempt by the EU to ...

[Suff]

Increase it's importance.

http://www.standard.co.uk/news/politics ... 10975.html

So the UK will suffer and be marginalised if it does not fall in line and change it's banking. Or, in other words, fund the EU mess.

Let me think this through. London does ~50% of the worlds currency transactions. New York does about another 35%. Frankfurt does.... Erm..... about 4%

Now let me see. London will be marginalised if it does not fall in line and align itself with LESS THAN HALF of the business it already does.....

EU logic. Upside down as usual....

[Workingman]

Never mind. We can sit in the corridor sucking our thumbs, as we always do, and wonder if this would happen if we left the EU.

[Suff]

Actually it's the Eurozone and the ECB, sitting in the corridor sucking it’s thumb and bemoaning the fact that it is not the capital of the money markets. What they ECB and the Eurozone needs to understand is that it is the Lack of regulation which makes the UK the centre of the financial world. Not More regulation. The only thing the UK could do, by complying with the Eurozone is to marginalise the UK financial markets and, eventually, lose them to Frankfurt.

Something the EU desperately wants although it can’t say it as it would be being BAD EU citizens. So the knife is in the ribs and the idiots in the Lords are going along with it.

[Workingman]

I see that Eurozone members have agreed that the European Central Bank will act as chief supervisor of Eurozone banks with more than €30bn or 20% of GDP. Where will it be run from? The ECB headquarters in Frankfurt of course.

To make this available to all EU members there is leeway for non-Eurozone countries that wish to take part to make close co-operation arrangements (reading between the lines: or they can get stuffed) and to sign up at a later date.

The way it is being done, as a series of agreements within an existing framework, means that no new treaty will be needed.

I like the quote from El Pais:
"Perhaps those who most understand the underlying ambition are the British, sensing danger for the City, and for that reason they are threatening to escape."

Or sit in the corridor as they always do. Over to you Dave.

[Suff]

Actually they haven't decided where it will be run from and they are talking about Frankfurt and erm.... Paris. Just like the parliament is Brussels and erm.... Strasbourg....

it's also a loose framework which will come into power "some time" with 2014 being the earliest tentative date.

Then, when they have tied their banks up and controlled themselves.......

Then they'll come to London to transact their international business.

Plus Ca Change......