Saturday - December 05, 2009

The French, in the person of Mr. Sarkozy, have managed to anger the Brits this past week.

Just so you know, Sarko is referring to London when he says “city.”
Woo-Hoo and another Hoo.  That caused a bit of a flap this week I must say.  Whatcha gonna do? Brits and French have this love/hate thing. But really, Brits do not I don’t think, actually dislike the French. I may be wrong on that score.  I think they laugh at em a lot though and the French know it.

War has not been declared.

We are in charge now, Sarkozy tells the City

Francis Elliott, Suzy Jagger, Martin Waller and David Charter
The Times

Alistair Darling has delivered a blunt warning to the EU’s new French finance chief against meddling with the City of London.

As Nicolas Sarkozy gloated over impending curbs on the City, the Chancellor said that such moves would drive financial services out of Europe.

The French President’s glee at the appointment of Michel Barnier as Commissioner for the Single Market took on an edge of menace when he said that unfettered City practices must end.

“Do you know what it means for me to see for the first time in 50 years a French European commissioner in charge of the internal market, including financial services, including the City [of London]?” he said yesterday.

One of the very bothersome things about the new French EU finance chief is .... he is very left wing and much given to govt. control.
He hasn’t been very big on capitalism either, and has made no bones about that in the past.
The Brits I think were hoping to get that post btw.  At some point in time, either the EU will solidify and RULE supreme, or else collapse in upon itself. 

“I want the world to see the victory of the European model, which has nothing to do with the excesses of financial capitalism,” he said.

His implicit threat was just what Downing Street had feared when Mr Barnier, formerly an agriculture minister, was given the portfolio last week.

Mr Darling, writing in The Times , said that it would be a “recipe for confusion” if firms were supervised by the EU as well as national watchdogs and that Britain would not accept new laws that could lead to taxpayers picking up the bill for bailouts ordered by Brussels.

He rejects claims that the economic crisis was the fault of the “Anglo-Saxon” model, pointing out that French and German banks were among the biggest creditors of the failed US insurance giant AIG.

Terry Smith, a prominent banker, said that the threat of increased regulation was already threatening the City’s future.

“I’ve never seen so much work going on by companies, individuals and teams of people to evaluate relocation out of the UK,” he said.

SOURCE

SOMETHIN TELLS ME THAT THIS IS THE ONLY SARKOZY THE BRITS WANT TO SEE FOR AWHILE!  LOL

Posted by peiper     on 12/05/2009 at 08:00 AM   
Filed Under: • Economics • EUro-peons • Eye-Candy • Finance and Investing • FRANCE • International • UK •  
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