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REPRODUCTION OF ARTICLE BY GRAHAM BISHOP, WWW.GRAHAMBISHOP.COM, ON IMPACT ON CITY OF HMG'S EU POLICY

26/11/2014

 
Exceptionally, we reproduce Graham Bishop's article published today by the European Movement at http://ymlp.com/zft4k4.

This implies no political affiliation on Mr Bishop's part: simply our own strong - and established - agreement with the points he makes:-

The UK's EU policy: Progressive meltdown epitomised by ECJ rejection of `bankers’ bonus’ case.

by Graham Bishop, EU Political, Financial, Economic and Budgetary policy expert and founder of www.grahambishop.com

The pace of collapse seems to be accelerating – and the commercial consequences for the UK may well intensify correspondingly, especially for the City of London. The timeline of the divergence between the UK's attitude to the EU and mainstream EU opinion stretches back at least a decade. 

The enduring characteristic of recent UK policy is a lack of strategic thinking about the longer-run implications. Instead the focus seem to be on the immediate short-run benefits. Key events that have had an effect on the financial services industry included:

1.       The Conservatives leave EPP – May 2009 ahead of EP election.

2.       Veto a Treaty – December 2011: Subsequently, TSCG was signed on 1 March 2012 and now ratified by 25 EU States

3.       Attack on free movement of persons – November 2013 onwards

4.       Short–selling - January 2014:  action dismissed by ECJ.

5.       FTT – April 2014: action dismissed by ECJ

6.       Veto Juncker – June 2014 onwards: Juncker is now President of the Commission

7.       EU budget surcharge – October 2014: Was it really `halved’?  

8.       Bankers’ Bonuses - November 2014: action dismissed by ECJ

9.       The United Kingdom versus ECB on CCPs – perhaps in May 2015?

For the financial services industry, the real commercial problem is now looming. The Government's habit of resorting to suing the rest of the EU Members in the European Court of Justice (ECJ) is counterproductive and gives the impression (wrongly) that the UK's political clout is minimal. There is plenty of scope for compromise in EU decision-making, before taking one's partners to the ECJ. But by abandoning the route of negotiation and compromise the UK is unable promote its position.

So far the UK has failed in every financial services ECJ case – with its arguments almost entirely rejected. Reading the ECJ decisions, even a layman can understand why the flimsy arguments have been rejected. 

However, the most significant ECJ case is yet to come. In September, I explained that the ECJ will pronounce judgment on three cases brought by the UK Government against the ECB on the location of CCPs. (European Court of Justice: The United Kingdom versus ECB on CCPs).

British business now faces an excruciating dilemma: should it support its traditional political ally (the Conservative Party), or the Labour Party, do something entirely different, or sit on its hands?

Ahead of the General Election next May, the UK Government is focussing on the 'sunny uplands’ of economic growth, falling unemployment, and low inflation etc. But the Prime Minster needs to look over his shoulder and see some inky-black clouds rolling over the horizon behind him. The logical consequences of his 'EU policy’ may blot out the sun all too soon.

"The views expressed on the euroblog are those of the authors and not necessarily of the European Movement UK.  The European Movement  UK is pleased to publish articles on a variety of EU policy areas as a contribution to the debate.”

BRITAIN AND IRELAND: OUR SHARED EUROPEAN FUTURE OF HOPE NOT FEAR

12/11/2014

 
Speaking at Trinity College Dublin (TCD) this evening (Thurs - 12 Nov) 4 Freedoms Party (UK EPP) leader Dirk Hazell will urge Britain to remain in the EU.  At tonight’s TCD debate on the growing possibility of Brexit, organised by the Young Fine Gael international committee, Hazell will attack British PM David Cameron’s refusal to rule out leaving the EU: “Cameron’s CBI comments on Monday (10 Nov) crossed the line by implying Brexit.  Instead of arguing for Britain to regain a leading role at the heart of Europe, Cameron chooses retreating to the margins of history.”

 

“Both Britain and Ireland need to focus on the EU’s achievements, with our national interests coming before party politics.  Cameron risks tearing the UK apart: advocating Brexit will reopen the Scottish debate.  Equally, Cameron’s reckless plans to restrict human rights in the UK by repealing the Human Rights Act and threatening withdrawal from the European Convention on Human Right (ECHR) jeopardise both UK unity and British EU membership.  Withdrawing from the ECHR also risks breaching the Belfast Good Friday Agreement”, Hazell warned the Dublin audience.

 

“What the UK needs is real political leadership: leaders with courage, who use the present to build a better future.  Instead of running away from Europe, we should aim for a leading role in the European Union: meeting common challenges that face us all through shared values and aims.  We must stand true to our beliefs and resist populist politicians peddling fear: exposing the myths and distortions that are designed to divide and rule”, noted Hazell: “Bringing people together: uniting our means and efforts to achieve greater strength, resource, prosperity and security.”

 

“Europe needs courage, not fear.  Yesterday (Wed - 11 Nov), across Europe we remembered the fallen: those who paid the ultimate price for past policy failure.  In this rapidly changing world, we should recognise the warnings of commentators like Michael White, who wrote recently in The Guardian that ‘increasingly fractious and enfeebled, our politicians may drift into an EU breakup just as, 100 years ago, we drifted into war’”, said Hazell.

 

Hazell observed: “With Russia testing European unity over Ukraine, and the self-proclaimed Islamic State recruiting in Europe’s cities, now is the time for Europeans to stand together.  In our interconnected world, no nation is an island.  Through shared values and by sharing sovereignty, our local communities, cities, regions and nations can combat global challenges - such as climate change, and the growing gap between rich and poor.  Whilst we cannot recover the past, clearly the future is ours to lose or win.  By working together within the EU, we can shape a better future free of fear.  Europe - not fear-peddling demagogues - offer hope for our achievable and positive future”

 

Turning to the tectonic shifts and ever increasing schisms within United Kingdom politics during the last five years, Hazell observed: “By bringing Britain to the brink of Brexit in a desperate effort to appease UKIP, the Conservative Party has placed party politics ahead of the national interest, as a result betraying both.  British PM David Cameron’s Bloomberg speech in January 2013 has failed to bridge the ever widening split in the Conservative Party over Europe.”

 

Tomorrow (Thurs - 13 Nov) evening, former British PM Sir John Major will speak in Berlin on Brexit at the headquarters of German CDU’s Konrad Adenauer Foundation (KAS).  “In March 1991, while visiting German Chancellor Helmut Kohl, British PM John Major told the KAS audience in Bonn that Britain’s role was ‘at the heart of Europe’.  And in 1992, John Major led the British Tory MEPs into the mainstream centre right EPP Group: to sit alongside friends like Fine Gael”, concluded Hazell: “In ordering Conservative MEPs to leave the EPP family, Cameron began systematically to destroy the work of Sir John Major and other Tory leaders.”                                                                                                             

BRITAIN’S FUTURE IS EUROPEAN: STANDING TOGETHER FOR HOPE NOT FEAR

1/11/2014

 
Opposing the Motion "This House believes that the Europe Union is a waste of British time" at the Durham Union Society yesterday evening (Fri - 31 Oct) 4 Freedoms Party (UK EPP) leader Dirk Hazell argued that Britain’s place is at the heart of Europe: “We must not retreat to the margins of history, but instead build on our achievements.  The national interest must come before party politics.  The UK needs political leaders, who use the present to ensure a better future.  Instead of running away from Europe, we should aspire to a leading role in the European Union: meeting common challenges that face us all through shared values and aims.”

 

“In 1914, the Durham Union Society had the foresight to push for women to have the vote - fourteen years before the UK finally embraced universal suffrage.  By challenging the thinking of the day, this Union recognised the need for change.  In 2014, we must again have the courage of our beliefs and resist populist politicians peddling fear: exposing the myths and distortions that are designed to divide and rule”, noted Hazell: “Instead, we should bring people together: uniting our means and efforts to achieve greater strength, resource, prosperity and security.”

 

“Every person has a unique spiritual value.  Everyone should get a fair crack at fulfilment, with help for the vulnerable.  Our youth deserves the best possible educational and training opportunities, securing and then flourishing in good jobs.  People should be free to work at home and abroad, achieving their full potential without needless bureaucratic interference.  The retired and vulnerable in our society should be free to live in dignity and safety.  Europe - not fear peddling demagogues - is the hope for this achievable and positive future”, urged Hazell.

 

“Europe needs courage, not fear.  Two days ago (29 Oct), Michael White warned in The Guardian that ‘increasingly fractious and enfeebled, our politicians may drift into an EU breakup just as, 100 years ago, we drifted into war’.  With Russia testing European unity over Ukraine, and the self-proclaimed Islamic State recruiting in Europe’s cities, now is the time for Europeans to stand together”, said Hazell.

 

As to the tectonic shifts shaking up United Kingdom politics during the last five years, Hazell warned: “By bringing Britain to the brink of Brexit in a desperate effort to appease UKIP, the Conservative Party places party politics ahead of the national interest.  British PM David Cameron’s Bloomberg speech in January 2013 has failed to bridge the ever widening split in the Conservative Party over Europe.”

 

“In 2011, the European Union Act was passed to ensure that the British people can vote on any future major transfers of powers from the UK to the EU.  The so-called ‘Referendum Lock’ provides the chance to campaign for Britain to be at the heart of Europe once everyone knows what is on offer.  At the time, William Hague wrote ‘this law hands back democratic control of the way the EU is developing to the British electorate’ and ‘means being positive and proactive about what European countries can achieve together through the EU’”, explained Hazell.

 

Hazell concluded: “In our interconnected world, no nation is an island.  Through shared values and by sharing sovereignty, our local communities, cities, regions and nations can combat global challenges - such as climate change, and the growing gap between rich and poor.  Whilst we cannot recover the past, clearly the future is ours to lose or win.  By working together within the EU, we can shape a better future free of fear.” 

Following the debate, members of the Union heavily defeated the Motion.

    4 Freedoms Party (UK EPP)

    Promoted by M Paterson on behalf of 4 Freedoms Party (UK EPP), both at Office 103, 405 Kings Road, London, SW10 0BB

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