Thursday, 13 December 2012

Farage on Newsnight special

I write as I am about to set off on my voyage round the Hanseatic cities of North Europe. It will be very cold but amor vincit omnia but no blogs till Xmas.

Whilst packing last night I switched on Newsnight click on link to see it for yourself. Farage gave a decent performance, picked out the usual BBC big lie at the start about 50% of our exports go to Europe. The true figure as NF pointed out is 38% and falling. Tim Congdon made a video tape appearance to point out the huge imbalance in our trade with the EU. The other anti EU panelist was Terry Smith well known for speaking the truth in the City these many years plus some Norwwegian woman to balance the pro Eu woman. Terry nailed the lie about business leaving the City if we left the EU. The exact opposite is the truth. If we stay in the business will drain away to Paris and Frankfurt now the EU have got their act together and made the ECB the pan Eurozone banking regulator. The EU always tells very big lies.

The discussion followed its usual course on inward investment etc. This was how the 1972 debate went and it was a huge strategic error by the anti-EU side. This country is much more than a few car and other plants set up by here today gone tomorrow multi-nationals. Germany succeeds because of its German owned companies of all sizes who are loyal to Germany. All multi-nationals are loyal to are seedy tax havens where they can avoid paying tax others are expected to pay. Farage has to make this link whilst the the Googles and Amazons are in bad odour.

The other link Farage must make is why so many financial firms choose to locate in the City. A large factor in this is the trust investors have in the Common Law of England under which City contracts are written. There is a huge body of case law on these contracts and if a dispute has to go to court non UK companies know they will get a fair and just hearing. Just watch what happens to BP in US courts. Spain is in mess because its property law is in a mess and if you buy in Spain you do not know if you will get the property. Its the same in many other Eurozone countries.

Add in the EAW which allows anyone to be hauled of to rot in some Latin/Balkan gaol on the say so of a corrupt police service and you have plenty of reasons to pull out before we even come to human rights.

The BBC were as pro EU as ever. Time to turn the heat up on Fat Pang.

1 comment:

Stephen Harness said...

Eric, thank you for providing a link to the debate that compliments your comments. The two business men, Stuart Miller and Sir David Tang did contribute greatly to the 'out' side by saying the UK membership of the EU is not essential. At least the BBC did not attempt to disguise this. They may regret inviting Sir David Tang, but at least they did invite him.