Kill the Capitalists

Would you believe it.

THE City of London is being stifled by a torrent of legislation from Brussels intended to create a level playing field for financiers across the European Union (EU), according to a devastating report to be released this week.

They go like ninepins, sector after sector. First they came for the fishermen, and I did nothing because I do not fish, then they came for the chemical industry…… We need to stand against this kind of thing together. Only when we except that regulation is nearly always bad, can we win the argument.

While financiers initially welcomed the FSAP, imagining it would lower regulation barriers across Europe, they have now realised that an increasingly envious Brussels is simply levelling the existing regulatory burdens.

Naïve – Naïve - Naïve. How could the centre of a socialist nirvana, allow the greedy capitalists to show that their way was actually better.

The report stands in stark contrast to the reviews issued by the European Commission. They found the process had been a uniform success.

Funny how the EC enjoys the result of its own work, even if nobody else does.

"The City is now hostile to the single market and the whole direction of the EU," he said. "The City now needs to mo-bilise against the EU constitution and develop a new approach based on free trade, not harmonisation."

Let’s hope this is not an exaggeration. Up to now, the city has been a spineless boot licker to those in authority both in Westminster and Brussels. Its time they remembered what the Seventies were like and chose sides.