Britannia Radio

The first here is presented  as a 'done deal' but in reality it is 
the EU back in the game of grabbing all the power and control for 
Brussels.  The G20 countries will not decide this and the decisions 
will be made in Brussels but unless Brown voluntarily gives it away 
we have the right to opt out.

The second is a clear example of the malevolent effects of Brown's 
policies on British banking.   Barclays has been given a clean bill 
of health for its adequate capital structure and now it has refused 
to get involved i n taking state money for any toxic assets in the 
form of insurance.  It has thus defied Brown and kept its 
independence alongside HSBC.  Without Brown twisting Lloyds -TSB's 
collective arms and forcing it into a catastrophic merger with HBOS, 
Lloyds too could have remained independent.  Step by step Brown 
destroys the City which has been the lifeblood of the British economy 
for years,

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TELEGRAPH 30.3.09
1. G20 deal will cost Britain global financial power
Gordon Brown will diminish Britain's international role in global 
financial institutions by increasing European Union representation, 
as the price for an agreement at the G20 summit.

By Bruno Waterfield, in Brussels

Joaquin Almunia, the European commissioner for economic and monetary 
affairs, told The Daily Telegraph that in future the EU would have 
"one voice" in reformed institutions such as the International 
Monetary Fund (IMF). "For me the most important thing is to have one 
European voice and position on these bodies," he said.

The Spanish EU commissioner predicted that the Prime Minister would 
achieve a major success by increasing the IMF's resources to more 
than $500bn (£353bn) at the summit later this week.

But, Mr Almunia stressed, in return China and other developing 
countries would demand a "voice and representation" that entail more 
reforms to allow greater redistribution of IMF quotas and votes. "It 
is obvious that they are not adequately represented. The governance 
of the IMF, and other international financial institutions, still 
reflect, to some extent, the way the world was organised many decades 
ago," he said.

Currently, European countries are over-represented on the IMF's 
ruling bodies, a situation that will change as developing economies 
in Asia and Latin America are given a greater say.

While Britain, France or Germany would not lose their votes or place 
at the IMF's top table they would, Mr Almunia insisted, be required 
by the EU to "present the same things and positions".
"A Europe with a consolidated representation will have more 
influence," he said.

Mr Almunia admitted that some countries, such as Britain, might have 
to be pushed into merging national votes into a collective EU 
position during talks on the issue in Brussels this spring. "Some 
will not adapt to this on their own initiative, they will need to 
receive pressure," he said.

Another key element of the reforms proposed by Mr Brown will further 
increase the EU's role on the international financial stage.

Plans to give the Financial Stability Forum (FSF) "formal status" and 
to extend it from the G7 to G20, will include a "full membership" for 
the European Commission.

The FSF, a body including central banks, national supervisory 
authorities and treasury departments, is to be given a powerful new 
job of improving the functioning of markets and reducing the spread 
of financial shocks.
Mark Francois, Conservative spokesman on Europe, said he will be 
tabling questions in the House of Commons to seek urgent answers.
"Losing our independent voice at the IMF to the EU would be a totally 
unacceptable loss of national sovereignty." he said.
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2. Barclays rejects Treasury's toxic asset insurance programme
Barclays has shunned the Government's insurance scheme for toxic 
assets after deciding it would "not be in the interests" of investors 
and customers.

By Peter Taylor

The bank - the last of the remaining independent British lending 
giants alongside HSBC - elected to forgo its right to take part in 
the Asset Protection Scheme ahead of Tuesday's deadline.

It's decision comes after the Financial Services Authority gave the 
bank a clean bill of health after exhaustive stress testing on its 
balance sheet, as revealed last Friday by The Daily Telegraph.

Barclays chief executive John Varley said the bank had "looked 
carefully at the economics of participation" in the scheme, in which 
banks pay the Treasury to insure their riskiest assets.

Lloyds Banking Group and the Royal Bank of Scotland have both tapped 
the scheme - effectively insuring a combined £585bn of assets.

Mr Varley said Barclays had also "talked to many investors" in 
reaching its decision not to take part in the scheme. The bank said 
it was continuing to discuss the potential sale of its iShares wing 
with "a number of interested parties". It added that group trading 
"continues to be strong".

Barclays shares, like other financial stocks, fell heavily - closing 
14pc lower at 149.1p - ahead of the announcement, which came after 
the market closed.

Killik & Co analysts said they "were surprised by the boldness" of 
the FSA's conclusion that Barclays did not need fresh capital. "We 
still have concerns Barclays may need to raise more capital," they 
said in a note.