July 5th-8th 2010 - Strasbourg Commentary - Plenary session

5 July 2010

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Strasbourg Commentary Plenary session 5th - 8th July 2010

The most significant issue this week, by far, was the financial services directives, under no less than 9 different authors, one of whom is Arlene McCarthy, Lab North West. I can do no better than to use a press release from Hermann Kelly, the EFD Director of Communications. Vichy Tories have stabbed British Financial Services industry in the back Wednesday 7th July 2010 Speaking after voting in the European Parliament on measures to create an EU Banking Authority, Pension Authority, Risk Board, and regulator of Central Banks, Godfrey Bloom, MEP old City boy himself said: "The Vichy Tories have been exposed for the traitors they are. They have stabbed the City of London and the Financial Services Industry in the back. "Along with their Federalist LibDem allies they today voted in favour of the EU creating an EU Banking authority situated in Frankfurt. Years from now, people will look back and pinpoint this as the day that the Tories destroyed the City. "That 22 out of 25 Tories would consistently vote in favour of building an EU regulatory prison for our Financial Services Industry is obscene.

These EU regulatory bodies shall be like the prison guards. "This is a clear betrayal of Britain's largest and most profitable industry. The vote in Strasbourg today created a new European Banking Authority, which will assume supervisory powers over British banks, and represents a significant transfer of sovereign powers in Brussels. "UKIP is the only British party to consistently vote against these measures. This hyper-regulation of Financial Services by the EU will only cause the flight of capital out of Britain. These measures are a disaster for Britain but at least now, we know where everybody stands when there is a choice between British interests and being the good schoolboys of Europe." You will have picked this up in the press as it was voted on Weds, but there was more on Thurs,- Agreement between the EU and the USA of processing and transferring of financial messaging data.

This was followed by a report on the European External Action Service, or Foreign Office. Parliament liked both of these, we did not. No doubt the UK press will pick up these tomorrow. ********************* You may like to know a little about Arlene McCarthy.

About three years ago a well qualified English lady teacher moved to France and sought teaching posts in schools there. She met several objections from French authorities continually querying her qualifications. She wrote to me asking for help which, for these three years, I tried to do. At last, a few months ago, the last hurdle was cleared, when it turned out that Arlene McCarthy had also been helping. But as soon as this favourable outcome was known, Ms McCarthy wrote the teacher a hostile letter stating, in no uncertain terms, that had she known I had been involved she would not have tried to help, she was returning her file and washed her hands of her. And that's a Labour MEP for you. Finally an admission. You will soon receive the latest "Bulletin from Brussels", which is now edited by Godfrey Bloom. It has a distinctly new format, with a little less input from MEPs, but Godfrey did ask us all for contributions.

Sadly, although I did receive and acknowledge his invitation for material, I promptly forgot. That was in early April, I must have been thinking of something else at the time; I can't think what. Must try harder!

Derek Clark MEP Strasbourg, July 8th 2010