Thursday, 18 August 2011

City Of London Under Attack?

Another brilliant and blunt article from Sara Moore on the European Journal, titled "Is Germany trying to control the City?"

Sara says;
"Naturally Germany covets the City (of London). Her industry has to compete with China so it cannot pay large wages. Grabbing London’s banking sector would be attractive, not only because it would solve Berlin’s debt problems but also because of all the high-salaried opportunities it could create. Yet how could Germany manage to move City bankers from Canary Wharf to Berlin’s boulevard Unter den Linden? The only way would be by undermining the structure of the City itself!"

If you look at the financial policies coming from Merkel via the EU, in particular the financial transaction tax, it is quite clear that this is aimed at damaging the City of London.

Germany can't have competition. European markets MUST be centred in Germany, not Britain.

It should also be noted that Germany is currently in the running to purchase the New York Stock Exchange, via Deutsche Börse.
Deutsche Börse division Clearstream Banking SA of Luxembourg, is currently being investigated for supplying funds for terrorism (Article).


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