The Germans and French are not happy at the the UK government policy of letting sterling slide. They see it as a currency war designed to undermine the competitiveness of their exports to the UK. Did the UK government complain when the Euro was on the slide against Sterling, North of 1.40 €/£? They did not! This shows clearly the UK market is far more important to the EU than the EU market is to us. It gives the lie to the Europhile claims that us leaving the EU will cost us jobs. The truth as in many Europhile arguments is the exact opposite They are more dependent on our market than we are on theirs!
Mervyn King's statements on Wednesday on 'Quantitative Easing' , economist speak for printing money has also enraged the EU as it causes Sterling to sink further. The French and German car manufacturers maintain a very powerful lobby in Brussels to ensure the Commission brings forward regulations beneficial to their industry. Hence the regulation to only allow franchised, expensive garages to carry out car maintenance and repair using expensive 'authorized' spare parts. Car manufacturers make far more money from selling spares than selling new cars! Eliminate the competetion from independent garages using second source, perfectly good, spares does wonders for the profits of Renault, VW etc. Second source spares are usually made on the same production line as authorised spares, they are just put in an unbadged box!
Its amusing to see Mervyn making mincemeat of the journos questions at the BoE press conferenence. The Oxbridge Professor addressing the village idiot as Jeff Randall put it except Mervyn was a Professor at the LSE! The problem with printing money is it's a Robert Mugabe ploy and leads to hyperinflation, but then so are a lot of Gordon's policies on democratic rights copied straight out of the Robert Mugabe handbook. It also upsets the PIGS who used to run their economies doing this until Frau Merkel whipped them into being good citizens of the 4th Reich