The French sought to reassure the City of London that its plans for more and tougher financial regulations by the European Union will not undermine it, saying that the new rules would not hurt any one country in particular. This was after Sarkozy’s comments that the EU’s Internal Markets Commissioner Michel Barnier was a victory for France and Europe’s economic model and a loss for free-market Britain.
Monsieur Barnier is wondering what all the fuss is about, stating: “….There is no reason for this controversy as the rules of the game are clear….” AND: “….I plan to work with everybody. I’m not an ideologist. I’m very practical. Everybody needs to calm down….”
So that’s alright then ?
The question you have to ask yourself is this:
Do you believe Monsieur Barnier ?
France’s Economy Minister Christine Lagarde also weighed in stating: “….Nobody can say that no regulation, or soft regulation as Gordon Brown called it when he was Chancellor, did us any good….” AND: “….Everybody agrees that the system must change….” AND: “….There is no reason for such and such a system to become a victim of reorganisation or of good supervision….”
Remember however that Sarkozy has repeatedly blamed the British and the Americans for the global financial crisis.
The British Bankers’ Association has said that: “….Sarkozy’s gloating over Barnier’s appointment had damaged confidence in the EU’s new institutions and raised a question mark over the impartiality of Barnier’s appointment….”
Well might these treasonous British politicians fret over Barnier’s intentions. But if one hands over the government of one’s country to a group of foreigners what does one expect ?