(Sarkozy with first wife Cecilia. Too tall. She had to go)
The Lisbon Treaty is signed, and its effects came into force on December 1st 2009. But, as it appears from their comments, only now are the idiots who signed it and pushed it through the British Parliament, starting to find out exactly what they have agreed to.
Today’s report from Open Europe tells the story. I don’t normally reproduce Open Europe reports in full (naturally they don’t like it!), but this one is extraordinary, showing that Brown and Darling apparently have no comprehension as to what they have agreed to.
UK “storms out” out of negotiations over new EU financial regulator;
Sarkozy: For the first time a French Commissioner is in charge of the City of London
EU Finance Ministers will today discuss the formation of a new EU-wide system of financial supervision, including the creation of three new EU authorities with the mandate to overrule national regulators on issues such as shortselling and the recapitalisation of banks. The authorities would also have the power to supervise and intervene in individual firms – moves which the UK is said to resist.
The UK stalled negotiations in October on the three new authorities as Alistair Darling wanted the EU to clarify exactly what powers the new authorities would have if a member state failed to implement decisions taken by the bodies.
The UK also wanted all decisions taken by unanimity, Euractiv reports.
However, the site reports that EU diplomats believe that Britain is isolated and that the remaining 26 member states will give the new authorities their full support. “Mainly ministers will be asking what kind of majorities will be needed in the new supervisory bodies,” one EU diplomat is quoted saying.
Comments made yesterday by Nicolas Sarkozy have added to fears that the proposed architecture, in combination with the appointment of French protectionist Michel Barnier as the next Internal Market Commissioner, will damage the City of London.
(Sarkozy’s inferiority complex about his height is legendary. Here’s his shoes, alongside those he allows Carla to wear)
Sarkozy said yesterday: “Do you know what it means for me to see for the first time in 50 years a French European commissioner in charge of the internal market, including financial services, including the City [of London]? I want the world to see the victory of the European model, which has nothing to do with the excesses of financial capitalism”.
Dutch daily NRC reports that “the British are so angry about Sarkozy’s triumphalism that they are blocking negotiations on EU banking supervision…The atmosphere has been so poisoned that the British, who think that supervision damages their City, have stormed out of the negotiations, according to an eye witness”.
Writing in the Times, Alistair Darling argues, “We must resist measures, however superficially alluring (!!!!), that could undermine the effective functioning of our cherished single market.
National supervisors, such as the FSA, must remain responsible for supervising individual companies. Making companies directly accountable to more than one authority is a recipe for confusion.”
In a debate in the House of Commons last night, Shadow Treasury Minister Mark Hoban criticised the Government for not being more active in the formulation and scrutiny of the new proposals. He said: “I’m not optimistic of the Government’s chances in insisting on its red lines because I think the Government has repeatedly left debating these matters until too late in the process.”
Do the British government expect the French to care? It has been the longterm aim of the French to take control of the City Of London and crush all notions of capitalism out of its bones. The European model, as Sarkozy says, does not like the power of money. It likes the power of patronage – the power of Sarkozy in fact.
(Sarkozy height row grips France. September 8th 2009
Sarkozy buses in stand-ins of low stature for a factory visit in France. (Houston – we have a small problem!!!) As the commentator says – Every little detail counts!!!
There is a deepening row in France over the alleged lengths gone to by President Nicolas Sarkozy’s aides in order to conceal his short stature.
In a Belgian TV report, the employee of a French factory visited by Mr Sarkozy admitted being chosen to stand behind him because she was no taller than him.
The report became an internet hit over the weekend and other workers have since backed the allegation.
But the charge has been robustly denied by the president’s office.
A spokesman for the Elysee Palace called it “completely absurd and grotesque”.)
Just for a second I wondered if this might be the beginnings of some new understanding amongst the Labour Government that the EU wants London brought to heel, London, the City part where Brown has raised so many billions to rescue the banks, where he has financed the biggest political binge in British history, and the City, where the coming financial crisis will have to be sorted out.
The real world of money is moving fast towards the dawning of a new reality where government spending around the globe will have to be curtailed. The world’s future financial security will depend fully on capitalism to rebuild the empty coffers. And even then it will take all of a generation. And yet the political game has run so far out of control that the law-makers are now trying to subvert financial decisions into political decisions.
These changes are bound to bring a crisis of confidence. Confidence, the vital factor that holds up markets, is now certain to send the finances of the world into a far nastier mess than would otherwise have been the case, as triumphalist French protectionists try to turn back the clock, and ignore the P+L account.
From The Financial Times (14 minutes ago!)-
Tim Linacre, chief executive of Panmure Gordon, the City stockbroker, said it would be “very disappointing” if Mr Brown had deliberately sought to put a Briton in the EU foreign policy job rather than the finance chief, saying that a tougher regulatory regime would hit Paris as well as London and that the winners would be Geneva, New York and Asia.
Angela Knight, chief executive of the British Bankers’ Association, said Mr Sarkozy’s comments had “put a question mark over his nominated commissioner that will not be easily dispelled”.
“If anyone in the European project thinks for a minute they are capable of subverting the years of effort it took to make the UK the world’s financial centre, they are sadly mistaken.”
But Stuart Fraser, policy chairman of the City of London, said fears over Mr Barnier were overstated but that it was important he was not seen to be pushing French interests.
Most City professionals and bankers say tax rules will have a much bigger effect on their decision to stay in London than financial regulations, though a proposed EU directive on alternative investments has prompted some hedge fund managers to talk of moving out of the British capital.
(I think quite a few have already gone)
Euractiv has another perspective –
Barnier gave few details of his intentions for his new role, saying he will save such comments for his approval hearing before the European Parliament on 11-19 January.
But he did give clear indications as to the political flavour he wants to give to the internal market portfolio, which has until now been held by Irishman Charlie McCreevy, whose light-handed approach to regulation irritated the French during the financial crisis.
“I want to ask the political questions on how to deepen the internal market and how to reconcile social [policies] with market [policies], draw the lessons from the crisis and put the internal market at the service of the knowledge economy,” Barnier said.
Well, that’s as clear as mud.
In his new role, he said he would prioritise industry, services, financial services and the knowledge economy as his four main areas of action. His roadmap will also be determined by “the decisions of the G20 in terms of global governance and regulation,” he said.
I’m still none the wiser. It seems the more words this Barnier guy utters, the more confused everyone gets. That’s hardly going to help the City.
Britain is ‘the big loser’, says Sarkozy
Barnier’s appointment was seen as a blow for the City of London, Europe’s biggest financial centre, which lost a key ally with McCreevy. On the sidelines of the Commonwealth Summit yesterday (29 November), French President Nicolas Sarkozy went as far as saying “the English are the big losers in this business” (EurActiv 30/11/09).
“The loss of an Anglo-Saxon voice in the Commission’s top economic team is of concern given the recent spate of over-prescriptive economic and financial legislation to come from Brussels,” said Timothy Kirkhope MEP, who leads the Conservatives in Brussels.
But Barnier dismissed suggestions that he would over-regulate the financial services industry to the detriment of the City of London. “I don’t need to be convinced about the importance of the financial places of London, Paris or Frankfurt. What I am interested in is to do more internal market, not less.”
(Sarkozy claims to be 5 ft 5.5 inches, and yet Medvedev is 5 ft 3 inches. They look similar, and remember, Sarkozy wears lifted shoes. It is said that he refuses to be photographed with anyone over 5 ft 6 inches, who is not a world or a national leader. This is a serious inferiority complex.)
The Frenchman (Barnier) said it was “his initiative” to suggest appointing Jonathan Faul, a Briton, as the new top official at the Commission’s directorate-general for internal market, in a sign of conciliation towards London. The appointment was announced by European Commission President José Manuel Barroso on Friday.
In his new role, Barnier said his intention is “to deepen the internal market, with which the French are sometimes a bit angry” because it is seen a excessively driven by large corporate interests.
They mean people trying to make money, I suppose.
“I want to use all the tools that the market offers for large companies but also more than what was done in the past for SMEs and citizens, for increased competitiveness, growth and jobs.”
Which is total bollocks, making no sense, not even being a sentence.
It doesn’t make much difference how they dress it up. Decisions that were once being made for financial reasons alone, will now be interfered with, suffer delays and be dictated by a more political agenda. That political agenda is non-democratic, and, from Barnier’s comments, highly obscure. Are these all merely coded terms for protectionism? I would imagine so….or worse.
Knowing the EU and its machinations, corruption will no doubt play a part. See the list of Sarkozy’s criminal accomplices and political allies HERE.
Que Nicolas Sarkozy ne soit lui-même impliqué dans aucune des affaires de ses amis, soit, mais il ressort tout de même un grand doute sur l’intégrité publique d’un personnage qui s’entoure systématiquement des magouilleurs invétérés de la droite parlementaire…
Sarkozy is not himself implicated in any of the affairs of his friends, but there remains, all the same, substantial doubts as regards the public integrity of a person who systematically surrounds himself with inveterate wrongdoers from the Parliamentary right…”
The London way of doing business where the decisions of hundreds of investors can quickly launch a project anywhere in the world, will be coming under threat. The Poison Dwarf Sarkozy will inevitably want to grind his chip, and throw a few regulatory spanners into the works, reducing the rate of world economic growth.
PICTURED at top with first wife Cecilia. Below with latest model, Carla Bruni. The new version is better at keeping her head down for photographers, wearing flat-soled shoes, and bending her knees, just as financiers will now be required to do.
The French national inferiority complex can become the primary consideration in the world’s financial decisions from now on. Nicholas can stand just a little taller, while his ‘friends’ fills their pockets.
The List Of some of Sarkozy’s dubious political associates –
1. Né grâce à des ripoux…
Il adhère au RPR en 1976 sous le parrainage de Charles Pasqua (poursuivi dans 5 affaires majeures dont le trafic d’armes en Angola). Sarkozy déclare à son propos : « tout le monde sait que je suis son double ».
En 1993 il est réélu député, avec pour suppléant Charles Ceccaldi-Reynaud
(accusé de tortures en Algérie, et poursuivi dans plusieurs affaires de marchés truqués).
2. …il le leur rend bien
En 2002, Nicolas Sarkozy force l’UMP à réinvestir Patrick Balkany, condamné à 15 mois de prison avec sursis pour usage particulier de personnel municipal et accusé de viol par sa maîtresse.
Il plaide pour le retour à la Mairie de Bordeaux d’Alain Juppé, condamné dans l’affaire des emplois fictifs de la Mairie de Paris.
En 2005 il nomme son ami, le député Manuel Aeschlimann, conseiller technique. Il détient le record de 150 procédures judiciaires et 600.000 € de frais d’avocat par an.
Le sénateur Gérard Longuet est également un de ses conseillers à l’UMP, impliqué dans plusieurs affaires de commissions occultes et de marchés truqués.
A son retour au Ministère de l’Intérieur, il prend son sa coupe le Ministre délégué Christian Estrosi, condamné à 4 millions de Francs de redressement fiscal, et soupçonné de blanchiment d’argent dans la campagne législative de 1993, dont le résultat a été annulé.
Fin 2006 il apporte son soutien à Pierre Bédier, le Président du Conseil général des Yvelines, condamné à 18 mois de prison pour recel d’abus de biens sociaux.
Il investit Alain Carignon aux législatives 2007, l’ancien maire de Grenoble a été condamné à 5 ans de prison dans une affaire de pots-de-vin.
And this is the guy who now is triumphant at having the City Of London in the palm of his hand. Ooooooooooooooooh Dear !!!!!!!!!!!!!!!!!!!!!!
And Barnier is well involved in handling the corruption of the Palestinians to boot, handing over hundreds of millions of Euros, which disappear into the hands of the friends of the late Yasser Arafat, and now the Palestinian Authority, and doing nothing to relieve the awful poverty. See A Leadership That Steals Money HERE.
Anyone concerned that Michel Barnier might not know what to do with money should rest assured. He is a past master at dealing with corruption, doing absolutely nothing to stand in its way.
London. You will have a fight on your hands.
Maybe Boris can help?