Brussels commissioner Olli Rehn insisted the the EU could override the PM's veto
Tuesday December 13,2011
By Macer Hall Political Editor
BRITAIN last night faced a revenge attack for David Cameron’s EU snub when a senior Brussels bureaucrat promised a new deluge of damaging red tape on UK business.
European economics commissioner Olli Rehn insisted that the EU could override the Prime Minister’s veto to slap more regulation on the City of London.
And he vowed that Brussels would ignore Mr Cameron’s bid to protect British finance and British jobs.
Finnish-born Mr Rehn said: “If this move was intended to prevent bankers and financial corporations in the City from being regulated, that is not going to happen. We must all draw lessons from the financial crisis and that goes for the financial sector as well.”
In a further threat, the commissioner added: “The UK’s excessive deficit and debt will be the subject of surveillance like other member states, even if the enforcement mechanism mostly applies to the euro-area member states.”
His remarks were being seen last night as the opening salvo in a new offensive by Brussels chiefs to isolate and bully Britain as punishment for Mr Cameron’s defiant stand against a further EU power grab.
 We must all draw lessons from the financial crisis and that goes for the financial sector as well  |
Olli Rehn |
And they provoked outrage among Tory MPs last night following fears that more EU tax and regulation on the City could cost up to 500,000 jobs across the UK.
What an organisation! What on earth are we doing associating ourselves with these power mongers, they never have, & never will have Britain's best interests at heart.
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