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Originally Posted by Osem
It seems our EU partners didn't appreciate the UK trying to avoid the City of London being effectively used as another cash cow and being put at a distinct competitive disadvantage with its competitors worldwide. I can see a blame game developing here and we can be sure that if/when the wheels come off, the UK will carry the can and if it all goes swimmingly well, it'll be nothing to do with us.
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The first one would be unfair, it's not our fault if the EU crashes and burns. The second one would be fair, if it goes well then it won't have had anything to do with us.
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Sarkozy has an election to face soon so no doubt that partially accounts for his tough stance and desire to shift any blame for what's happened in the Eurozone from he and his allies to the UK.
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Which probably won't work. A minority of existing xenophobic supporters might emboldened but the rest will blame him, his government, for their economic woes and the cuts that came as a result.
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Despite Cameron's 'veto' sadly, I can see the EU 'rules' being fudged/reinterpreted to the effect that we will still be effectively subject to those rules despite them supposedly being only applicable to the Eurozone members who want to be part of any new arrangements - a new treaty in effect
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My understanding is that they can attempt to impose the bank tax without this treaty. Cameron refused to sign because he wasn't offered a safeguard from such a act in future.