The Evil European

From the BBC.
"He want to make bankers put their money where their mouths are.
The requirement that "originators" of financial products must retain a 5% stake in the products they sell could have a transformative impact.
This is because it will mean if a product loses money, so will the bank."
Getting Bankers to act responsably, 02/10/08

Business rights balanced by business resonsabilities? I like this idea. Prevent the peddling of the banking equiverlant of snake oil.

"Cameron and Brown are united in saying they will do what is needed and not allow political differences to get in the way of financial stability. Good, but do either realise what may be needed in a worst case? The only viable British Paulson plan - bar a £500bn-plus international loan - may require us to join the euro to win the support of the whole of the European economy and European Central Bank as part of a pan-EU initiative to create "good banks" for Europe."
Will Hutton, Dithering Britain needs its own plan, and it may hinge on joining the euro
The Guardian, 01/10/08

Could the UK have the €uro by 2010? Nothing should ever been ruled out in politics. If joining the €uro was seen as neccessary to save the UK banking industry (which is overly dominate) but the UK population voted against it.....well, we just have to see what happens in the USA (surprise, surprise).

It would be rather ironic if a Tory government takes us into the €uro as a result of deregulation and the actions of the US government!