Sunday, 27 September 2009

UK - a new rainy Cayman Island

I found this quotation irresistible.

Outside the EU, the UK would be free of EU meddling and could transform itself into a new rainy Cayman Island right off the European mainland.

Swedish Lex (?) the author of the piece sums up the City culture's problems rather succinctly as follows

The City’s political clout in Brussels is waning as the UK’s financial industry model has gone from being the envy of the European peers to being a liability. Meanwhile, the EU will in the future probably be proposing new banking and financial services legislation that may be superficially marketed by decision-makers as striving to provide a clear cut with the existing Anglo-Saxon casino model.

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