Monday, September 06, 2010

Open Europe Briefing on tomorrow's ECOFIN

As this blog has been arguing for some time danger lies ahead tomorrow. An Open Europe briefing is linked here. I quote: "Crucially, the voting structure within the supervisors is heavily biased against the UK. Most decisions will be taken by simple majority, meaning that the UK would have the exact same voting strength as all other member states despite being home to the bulk of the EU’s financial services industry."

Open Europe's Director Mats Persson is quoted in the Telegraph arguing: "The proposals clearly represent a shift in powers from the UK to the EU level, and go beyond what was originally envisioned and the UK had pushed for. The EU supervisors will be given the mandate to interpret, apply and even enforce EU laws at the expense of national regulators in several key areas".

Essentially a huge and new loss of Sovereignty Cameron promised would not occur while he was Prime Minister. First he betrayed us on a Referendum on the Lisbon Treaty and now this.

When will Conservative Backbenchers call a halt to these foul deceptions?

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