Brussels seeks to reassure the City over new rules

When is the referendum?

Yea, when is the referendum, Dave?

The European lot should put their own financial house in order before interfering with our financial regulation systems. The excuse that these proposals only follow the States is pure sophistry. What they want is more say over our lives and, as usual, moving the financial emphasis away from London to Paris and Frankfurt-pure jealousy. It is time that our craven politicians sorted out this lot once and for all. But will they, not likely as individually they have too much to gain whilst the peasants suffer. Roll on the referendum with a commitment (if politicians can be trusted with a commitment) to withdraw from Europe if that is the popular decision (and no cleverly worded questions so that they can renege as the peasants misundestood the question).

Cynical One

I am not comfortable that Europe should over rule English regulations. Too much interference. Europe can be expected to give advisory guidance only.

This comes at a time when Mr Sarkozy has allegedly been attempting to attract city based institutions to move their head-quarters away from the city to France. I think however that French labour laws would have to become far more flexible if Paris is to pose any threat whatsoever to the city as a financial centre particularly since successive French govts lack the courage to address their problems with union power. Having said that, I agree with the thrust of the above comments and am worried that the motives of the M. Barnier are driven by national rather than EU interest. Dave bring on the referendum!

If the Banks were big enough to need bailing out by the tax payer they are therefore big enough to deal with Euro meddling.

Another sell-out from "Cast-iron" Dave and his Foreign Secretary: I suppose Hague has some sort of excuse, his mind not being on politics at the moment, but Cameron is just plain treacherous.

So much for Mr Cameron's pledge not to pass over new powers to the EU. He's only acquiescing in the transfer of power over the sole world class business that is operated in the UK. How depressing.

We should be very wary of blandishments from the EU. Its every instinct is to grab more power insidiously. What is the point in electing a UK government for them to give power away to a foreign organisation.

Gordon Brown and his Labour co-conspirators should be indicted and put on trial for constitutional offences. Labour got into office with a promise to the electorate to hold a referendum on the EU constitution (aka the Lisbon Treaty). He reneged because he knew the people would reject it - so, two offences there. Politicians must be made to know they will be impeached if they betray the British people and gain power by telling lies.

The Tories promised to gain approval of he electorate before any further transfer of power to the EU and that is exactly what is expected unless they want to be int he wilderness for another 13 years.

etter off out!

My experience is that Belgium is the worst place to do business in the EU because of the red tape, astronomic "professional" charges and utter jobs worth attitude.

ANYTHING the EU takes control of will cost not just the UK but all in the EU dearly. Quite simply the fact that Brussels is the centre of the EU has created a goldmine for officialdom, and we just pay and pay and pay for numerous inflated jobs with gold plated expenses and pensions.

This is just empire building for self interested beaurocrats. there is no real benefit for us - just more cash drained from the UK. Another very very expensive Quango in the offing.

I suppose I cannot blame Belgium for trying to avoid the cuts other nations are having to make. But let us call time on them and put them back in the gutter. Then we can watch the conflict between the Flemish and the French to see what a great neation Belgium is ! To thing we fought wars to help them !!

UKIP's website has a petition going for a referendum - sign it if you want one; its just about our last chance

I agree that greater scrunity of hedge funds, foreign exchange and derivatives is necessary.

In the past the EU has been bringing about consolidatation of different legislations in the EU through issuing directives. I know how strict some of the professional bodies, I have had dealing with, were in implementing them over in the UK.

I feel a compromise should be sought so that EU guidelines to scrutinise the financial institutions in the UK is continued through directives on the three areas mentined above.

Mr Barnie uses the words such as 'intelligent' and non-discriminatory. Can somebody tell me if they are legal terms so that their breach would constitute a civil or criminal offence?

Banking reforms in the US are so much easier to implement because it has been a federal form of government for a long time. UK has its own cultural approach to certain matters and if the UK banks have serious reservations about this EU move, then should be give due weight.