"If ye love wealth better than liberty, the tranquility of servitude better than the animating contest of freedom, go home from us in peace. We ask not your counsels or your arms. Crouch down and lick the hands which feed you. May your chains set lightly upon you, and may posterity forget that you were our countrymen."

Thursday, 10 September 2009

The Price Of Experience

The European Union has long been angling for control of banking and financial centres and it's no secret that it would rather see Frankfurt or Paris more pivotal than London.  (Check out previous posts tagged 'Frankfurt').

Draft legislation published today gives more details of a 'banking super watchdog'.  If agreed, it will be implemented next year.  There is talk of a 'local watchdog' and 'local supervisor' so, for Britain, I assume that would mean our Bank of England.
The draft laws, which is the result of an agreement thrashed out by EU leaders earlier this year, also threaten to erode the authority of Britain, which is fighting to keep control over the centrepiece of its economy, the City of London.
The new European watchdog is given the power to order national supervisors to take specific action, in the draft. It leaves it up to the European Commission or EU executive to decide when they should be allowed overrule the local watchdog.
The draft law also allows the banking super-watchdog to intervene with individual banks if, for example, the local supervisor does nothing, EU officials wrote in the document.
As I've said before, the current trend towards devolution and localism is all very well but fits in too easily with the EU's own blueprint for a new supranational state.  Once this legislation goes through, as it will, expect it to be closely followed by the Euro (with designs decided at 'local' level, of course).  Like it or not, we're in it up to our necks.

What is the price of Experience ?
Do men buy it for a song ?
Or wisdom for the price of a dance in the street ?
No, it is bought with the price of all Man hath, his house, his wife, his children.

Wm. Blake

3 comments:

  1. Hang on, Cameron and Friends are advocating localism down to the people not to the EU regions.

    Devolution was all Tony Blair and that, I will admit, had EU written all over it. A unity with in a unity will only act to sideline the greater one of them hence it makes sense to destroy it.

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  2. Sorry 13th - I'm definitely in a cynical mood today. I hope you're right, at least the Cons are moving in the right direction with the proposed abolition of regions/regional assemblies. Localism suits the EU agenda though, tier upon tier of bureaucracy with the EC as the all-seeing eye sitting at the top of the pyramid.

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  3. Hey who wouldn't be in this fucking mess. But I can see where you are coming from. But I was so surprised since Carswell and Hannan are so actively campaigning for localism and it seems that they, if anyone, would have spotted an EU plot if there was one there. But the issue definately needs explaining since it is a very sinister parallel that has been drawn and spotted by yourself.

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