It was refreshing then to read Jim O'Neil, UK national and just retired head honcho at Goldman Sachs in an interview with the DT business say his thinking on UK membership of the EU had radically changed in recent months. This interview coincided with the announcement of the EU whizzo plan to curb bankers bonuses. Funny that! Click on link to read.
To be a successful investment banker you have to be ready to alter your stance if you are getting on the wrong side of the market. This is why they are very rich and politicians are relatively poor and jealous. There is nothing wrong with as Keynes said changing your views when the facts alter. If our politicians had followed that sage advice we would have left the EU 25 years ago. However the only way our politicians know of enriching themselves is by making us, the people poorer through high taxation and silly regulation.
A very smart businessman once said to be that there are markets where it is easy to do business but difficult to make money and there are markets where it is difficult to do business but easy to make money and that he much prefered to operate in the latter. Nigel's two market types, yes that was his name, I add a third the EU single market where it is difficult to do business because of over regulation and difficult to make any money because the politicians have taken all the peoples money for grandiose useless political projects like the Euro. My friend Nigel's other piece of advice was you can't make money in Greece because there is no money there. How very true as we have found out.
Even dear Roland Rudd, (surely some mistake should br Rat) the Davos media high priest lobbyist of the EU is unhappy about the EU regulating remuneration. Allister Heath sums up the EU bash the City of London on in his March 6th piece thus,
Prime Minister David Cameron said on Wednesday he wanted to ensure EU plans to limit bankers' bonuses did not threaten the national interest, but it later became clear that Britain is only seeking minor changes to what is almost a done deal.
Britain was left isolated at a meeting in Brussels on Tuesday after it failed to water down new European union rules that will cap bankers' bonuses, a measure that could threaten London's dominance as a global financial centre.