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Eurosceptic Bloggers

Tuesday, February 08, 2005

Europe-wide Regulation

Evil multinationals are making money at our expense:
On August 2, Citigroup stunned the eurozone bond market by selling about €12bn ($15.3bn) of the paper (Eurobonds) within seconds, only to buy back €4bn of it at lower prices slightly later.
The things people think of. Selling high and buying low, they want to be careful they might make a profit.
Pervenche Bères, who chairs the European Parliament's influential committee on economic and monetary affairs, on Monday told the Financial Times that co-ordination among the national regulators in the Citigroup case was lacking and had highlighted the need for a regulator with Europe-wide powers.
No problem cannot be solved by regulating at European level, so says the federalists. Now there is a surprise. TB says we are winning the argument in Europe. If that is the case how come there are calls for more Euro Legislation virtually every day? These people will not rest until they gain the federal state that they want.

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