From Ask Bury…
Strasbourg was as beautiful as ever. The sun shone, the tree-lined streets glistened and Place Gutenburg, which is in the shadow of the mesmerising Cathedrale de Notre-Dame, was awash with tourists. However, back in the grey and soulless European Parliament, which resembles the Tower of Babel, the usual dangerous and nonsensical baloney reigned supreme.
This week, the European Parliament went all populist: cut bankers bonuses they cried and punish those who caused the economic crisis. The EU, you see, views the economic crisis not as catastrophe, but as an opportunity to drain the City of London of its independence and transfer as much power as possible to the continent. Unfortunately, they succeeded this week. I was also shocked to see that a number of so-called ‘eurosceptic’ colleagues betrayed the City of London and voted in favour of this dangerous drivel.
The MEPs from the main three parties backed the EU plan, which will create a combined European banking authority, pension authority, risk board and regulator of central banks, but not in London, yes you guessed it, in Frankfurt. The EU will not only take all risk, flexibility and independence out of the banking sector, they will also regulate bonuses, which will no doubt result in our best bankers drifting off to countries outside the EU, such as Switzerland or even New York. In the meantime, they have agreed to transfer unparalleled powers from the City of London to Frankfurt. I know this might be seen as a radical claim, but I believe the Eurocrats did more lasting damage to the City of London this week than the Luftwaffe did in 1940.
It was also no surprise to see these proposals being championed by the Left, and particular our own Labour Party. They love regulation; they can’t get enough of it. It also conveniently allows them to blame the economic crisis on those greedy bankers, whilst deflecting the truth that this whole situation was exacerbated by the fact that Gordon Brown proved himself to be an economically inept during his time as Chancellor of the Exchequer. In 1997, New Labour were left a golden egg by the Conservatives, but like every single Labour administration in history, they blew it and left behind economic chaos for someone else to sort out. Sorry, I digress.
Back to this week’s plenary session in Strasbourg: I do think in years from now, we will look back and say that this was the week that the City of London was finally surrendered to the Eurocrats. My party, UKIP, voted against these wicked proposals, so my conscience is clear. I’m not sure I can say the same about the Conservatives.