7 May 2013

Nigel Lawson's got it backwards

It was interesting to hear that Nigel Lawson's main reason for turning against the EU and wanting out is the vote by the EU parliament to implement the Capital Requirement's Directive, which included limits on bankers bonuses (to a piddling 2 times their salary) amongst other reforms.

Whilst the media over here focused solely on the bonus cap, the whole package contained a lot of very important measures to help prevent the same kind of financial crisis we have recently had from happening again.

The UK has the largest financial sector in Europe, and one of the largest in the world. How it operates affects the lives of millions people, not just across the UK, but across the world and especially within Europe.