16\/6\/2014<\/p>\n
LONDON’S Green Euro-MP Jean Lambert has hit out at Chancellor George Osborne after he announced plans bypass EU rules designed to criminalise rogue bankers in last Thursday’s annual speech to banking industry chiefs at Mansion House.<\/p>\n
Ms Lambert, whose London constituency includes The City, said we need reforms \u2013 but they should be decided at EU level so they encompass banks working in Frankfurt, London, and financial centres across the EU.<\/p>\n
She said: \u201cBy attempting to introduce reforms to the British banking sector while ruling out any of the common EU reforms designed to tackle the very same problems of fraud and excess, Osborne is sending a clear message to the EU: ‘keep out of the way the UK financial sector does its business’.<\/p>\n
\u201cThis is likely to be disastrous \u2013 the financial woes suffered by much of the world were caused as much by a piecemeal approach to banking regulation as they were by the excesses of the industry.<\/p>\n
\u201cThe fact remains that the financial sector is as powerful \u2013 and fleet of foot \u2013 as most Governments. If we don’t join up regulations across borders, it will always seek to do its business in the most favourable jurisdiction, and that can only be bad for consumers.<\/p>\n
\u201cIt’s also at odds with the views of most people. The Greens have worked hard to shape EU banking regulations: pushing for a Financial Transaction Tax, for example, and a cap on bankers’ bonuses \u2013 and these are the reforms most people want to see.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
16\/6\/2014 LONDON’S Green Euro-MP Jean Lambert has hit out at Chancellor George Osborne after he announced plans bypass EU rules designed to criminalise rogue bankers in last Thursday’s annual speech to banking industry chiefs at Mansion House. Ms Lambert, whose London constituency includes The City, said we need reforms \u2013 but they should be decided […]<\/p>\n","protected":false},"author":4,"featured_media":1060,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[1],"tags":[989,970,98,984],"yoast_head":"\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\n\t\n\t\n\t\n