Friday, 27 November 2009

You can read them all from Reuters in:-

BUT one which is of particular concern to us in Britain is the appointment of the French arch-regulator to oversees all financial matters in the internal market.  This is a mor coup for Sarkozy and a slap in the face for Gordon Brown . 

QUOTE- - -

BATTLE OVER FINANCIAL SERVICES

The appointment of Barnier, 58, a former French agriculture and foreign minister, is more controversial because of the role he will have in overseeing a radical revamp of financial regulations to prevent any new economic crisis.

His nomination could worry financiers in London, Europe's biggest financial centre, who are fighting to water down proposed new rules on issues such as bankers' pay and curbs on hedge funds. France is seen as favouring tough regulation.

"It is a victory for the French, they have received what they wanted," said Hugo Brady, an analyst at the Centre for European Reform think tank.

EU diplomats said Barnier would appoint Jonathan Faull, a senior British civil servant in the Commission, to lead his department to allay suspicions that Paris will pursue its own interests in pushing for strict regulations on banks.

Christina