Wednesday 22 September 2010

Tory MEP Tomfoolery

From theparliament.com:

UK Conservative MEP Kay Swinburne has welcomed new rules on EU financial supervision which have been adopted by the European parliament in Strasbourg... "It provides the markets with a common rule book and greater certainty over the key questions of who will regulate what and where. Instead of handing over the keys to the City of London, this deal places it in a kind of European neighbourhood watch programme.

Peer oversight will provide us all with loudhailer warnings when there are macro systemic or particular risks. This package must be seen as the high-water mark of European financial supervision and not the first step towards handing over these powers to Brussels. With this new certainty the financial markets can begin to look to the future."


That's a novel use of the word 'must'. I assume that the sentence really means 'We would like to palm this package off on the voters as...'?

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