Brown agrees financial regulatory framework with EU

From PoliticsHome:

Gordon Brown, speaking in Brussels following the European summit, has said that a framework for financial regulation in Europe has been agreed, and stressed that stronger cross-border financial regulation was good for Britain.

The Prime Minister, answering questions from the media, said “today we’ve moved forward on Lisbon. We’ve moved forward with stronger financial supervision”.

He added that the progress made on the Lisbon Treaty “does not affect the relationship between the Union and the member states” and said “the House of Commons will have a say when it comes to the next accession treaty”.

He also said European leaders had agreed that “Jose Manuel Barroso is the right man to lead the European Commission…for the next five years. Europe is and will be a better Europe under his leadership.

There’s plenty wrong with the above:

Firstly, prior to this summit, McMental was allegedly against the framework as it meant that the EU could order Britain to pump more money into banks, thus ceding control of our financial authority to the EU. He had complained that since UK banks had interests around the world, Britain would in effect be propping up world-wide assets.

What happened to that argument in the space of two days?

Secondly, his acknowledgment that we’ve “moved forward on Lisbon” suggests that this was his intention all along.

Thirdly, “the House of Commons will have a say when it comes to the next accession treaty” is simply untrue. The Lisbon Treaty is “self-amending”, meaning that the EU needs no consent from us via an inconvenient referendum or treaty for “ever closer union” – it can go ahead and do what it likes to make closer union a reality.

Finally, Barroso is the “right man to lead the European Commission”?!

Update: Nigel Farage outlines the gravity of the decision Brown has now taken:

Brown will be responsible for killing off Britain’s life blood – its financial industry.

That’s treason, Mr Brown. Sleep well.


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