Sarkozy snubs David Cameron.

[anotheoldgit]

http://www.dailymail....wife-body-swerve.html

Well that's it for our special relationship with France, if we ever had one, they have never forgiven us for Waterloo.

But has Cameron done the right thing?

[jno]

he's stopped Europe imposing tighter regulations on our wonderful patriotic bankers, who have done so much to make this country what it is today.

[craft1948]

Just as well they didn't shake hands, Cameron would have had to count his fingers afterwards.

[Kayless]

all part of the master plan AOG:
Amazon.co.uk User Recommendation

[Gromit]

The Banking Transactions Tax seem like a good idea for recouping the £Billions we have had to loan to keep our banks from going bust. But cameron gets most of his party's donations from the City of London so he had to veto the plan.

So instead of building up a fund for the next time our casino bankers lose, it will be up to the British taxpayer to bail them out - again.

[emmie]

yes, time he did.

[riptide]

If we do not stick up for ourselves, there will be nothing left to govern in this country, the European Union will be telling us what to do. I totally agree with what Cameron has done, at least he had the guts to do so, which is more than that whip Milliband would do, unless of course Ed Balls told him to do.

[emmie]

so if the 26 nations sign up to a new or amended treaty, that devolves more power to Brussels, so effectively gives Germany / France virtual control over these countries fiscal budgets, taxation, and if they get out of line, will be heavily penalised. That is the way or similar being presented on the news report. Perhaps that was not the full report, but as close as i can recall. Is this what the people of those nations want, or simply the governments of each, particularly the likes of Ireland, Portugal, Greece to get their houses in order. Seems a very long way from the EEC, and early trade agreements.

[cazzz1975]

I think he has done the right thing.

[Messi_Ten]

Yep, good on him for defending the bankers. We can't have them going short, especially at Christmas!

[emmie]

worth reading for the comments at the end of the piece.
http://www.telegraph....ange-main-points.html

[venator]

Quite simply, a tax on banking transactions would drive business away from London to other centres who did not charge tax.

Switzerland, for instance, has all the banking facilities and a sound reputation.

Just dig up the heart of London and ship it over there.

[DTCwordfan]

Its only stage one of a long negotiation. Cameron has done the right thing and, as he said, we are not Eurosceptic but we are defending Britain's interests. It could well be that Merkel and Sarkosy will be back to garner the UK's support, Merkel in particular needing the stricter monetary and budget control support that the UK would back her on, as well as holding onto her position about the debt/GDP benchmarks that will have to be negotiated.
The concession, the exemption of London to be regulated more by the UK Government.

The second stage of "delicate negotiations" and support also will include those countries who are on the wrong side of the ratio line - Greece and Ireland for starters, Italy? Portugal? Spain? If it is set at 3% of budget deficit as currently proposed, well that includes the likes of the Neths, Slovakia, Slovenia, Austria, and France. 5% would include the suspects plus France and even ourselves.....

http://www.bbc.co.uk/news/business-13366011

It would not surprise me if we see a very different position for the Uk from today's position by, say, end Q1

The other thing - 3.5 months is a hell of a long time in economics and re the EU debt problem - the house of cards could well fall before that - a run on Spain or France peut-etre. At that point, DC being on the fence may be the best position for the UK.....

[Messi_Ten]

It's a pity Cameron wasn't as concerned about the thousands of railway jobs going abroad, as he is about the bankers.

[elgreco]

It would seem that 26 nations are on one side and Britain on the other. However, when the nuts and bolts talks start, I suspect other nations will start to worry about handing so much power to unelected people. It will be interesting to see if there are 26 happy bunnies in 2 months time.

[jake-the-peg]

It's pretty much the only sensible thing he could do.

Even I would have done exactly the same thing in his shoes.

You can't expect us to sign up to penalties designed to keep the Euro regulated properly when we're not members of it.

It does mean that we lose influence in Europe - we're won't be part of a lot of big financial decisions but there you go.


Actually I suspect Merkel and Sarkozy don't care a damn about what we think - we're not in the Euro so we're not important to them

They're probably a lot more concerned about the Irish

[Brenden]

I think DC did the right thing now it is up to the other 26 countries to buckle under the Merkozy treaty. Iceland was on its knees 3 years ago now look at them - and they are not in the EU.

[Gromit]

But Brendan, if you let the banks go bust (like Iceland did) instead of crippling future generations with a huge deficit, where are your party's donations going to come from?

[rov1100]

The reason why we don't want the bank transaction tax is that it was to go towards a European fund and not end up for us to use.

Many are against the coalitions tax on the banks as it does not target those banks that pay out the huge bonuses but is a catch all. So the banks can carry out giving huge bonuses and cock a snoot at the rest of us.

[modeller]

Sarcozy has been trying to get his hands on our finance sector for years . Its got nothing to do with the Euro crisis that just the opportunity France and to a lesser extent Germany have been waiting for. Cameron was right it would have cost us billions as a nation not just protecting the few millions that you Gromit are obsessed with going to our thieving bankers. Don't you think the French and German bankers are creaming off the profits or are you happy for them to take it but not our lot . Why do you think the Swiss have always refused to link up with the rest of Europe . For the same reason Cameron has kept us out. Let us hope we can now get back some more control over immigration , work, safety, and human rights directives that are stifling our country .
However this is not the end game it will not solve the Euros problems.
Within weeks it will start to fall apart but fortuntely we will not be exposed as much if we had had signed.

[brionon]

Never forgiven us for Waterloo ? They seem to get on OK with the Austrians and the Russians who helped defeat Napolean. Try not to let your Anti Europe Phobia destroy your reason.