Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-09-22-Speech-3-082"
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"en.20100922.4.3-082"2
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"Madam President, when last I met the Commissioner, I expressed grave concern that regulation of the City of London was going to move to Brussels. He seemed surprised that I was so concerned, but since he has taken office, he might have come to understand that a significant portion of the United Kingdom’s GDP actually comes from its financial services sector.
It is very important to the United Kingdom. Indeed, it picks up most of the tabs. The GBP 45 million a day we send to this place to support the rather suspicious European Union project, which has not given any of our electorate an actual say, is one of those tabs. In fact, you must understand that big salaries and big pensions do not grow on trees.
Commissioner, I also mentioned to you that we could learn something from the old dominions – Australia, Canada – who have not suffered from this problem, and you rather charmingly, and in a very Gallic way, suggested that Australia was a long way away. I hope, now that you have been in office for a little while, you will understand that perhaps such a parochial approach will not do.
I still worry, Commissioner. I still fret that we will have regulation from the usual mishmash of ignorant bureaucrats, parliamentary committees with their usual complement of cryptocommunists, anachronistic socialists, journeymen politicians, fringe greenies, a sprinkling of well-meaning housewives, and grandmothers exploring their new third age. The outcome will be the same as all the other EU projects: fishing, agriculture, energy, employment, immigration and, horror of horrors, the ticking time bomb of the single currency.
It is an astonishing litany, is it not, of failure? You would think the European Union would get something right once by accident. I am sorry, but I am not satisfied. I am desperately cross that the British Conservative Party has given away the City of London regulation. If Dave Cameron had been the Admiral at Trafalgar, it would be Admiral Villeneuve on the plinth in Trafalgar Square now."@en1
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