Cameron fails to protect Britain against EU taxation of City of London

The recent EU Council Meeting agreed the following as may be ascertained from this link. 16. The European Council agrees that Member States should introduce systems of levies and taxes on financial institutions to ensure fair burden-sharing and to set incentives to contain systemic risk.1 Such levies or taxes should be part of a credible resolution framework. Further work is urgently required on their main features and issues of level playing field and cumulative impacts of various regulatory measures should be carefully assessed. The European Council invites the Council and the Commission to take this work forward and report back in October 2010. 1 The Czech Republic reserves its right not to introduce these measures. As can be seen from the referenced footnote the Czech Republic reserved the right not to introduce these measures. No such reserve was made by the Coalition Government of Britain, yet they have supposedly agreed that there should be no further losses of Sovereignty to the EU. Surely a financial tax on what is one of the largest financial centres of the world, upon whose revenues the main part of the nation's income now depends must be considered a breathtaking loss of both money and sovereignty.