Wednesday, 3 October 2012

European golfers choose their national flag

It was instructive to see the European golfers celebrating their win over the US ditching the awful EU circle of fading stars for their own national flags asap. No doubt there was some monetary inducement to use the discredited circle of stars but the golfers actions showed where there hearts lay.

Osborne's plan for banks to ring fence their retail operations from their investment banking has run into direct conflict with the EU who want a complete split so reinventing the Glass Steagall Act set up in the US after the Great Smash and scrapped in the 90s at the behest of the US banking lobby by the great Fornicator. This is one time that the EU have got it right. Ring fencing is a banking lobby fudge and won't work.

Its the same with the proposed BAe EADS merger. The idea that nationally important parts of the merged business can be ring fenced is nonsense as the US defence department will very quickly tell the Franco Prussians. Still its nice to see the French and Germans squabbling over where the proposed joint venture should be headquartered, Toulouse or Munich. Thus low has the UK defence industry sunk.

The leave the EU parties are still easily tripped up by the media slickers who demand policies. There is a easy answer. What is the point of having policies you cannot implement and which can be vetoed by the EU? You can only have real national policies by leaving the EU. Anything else is wishful thinking.

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