A former Maoist quite clearly reverting to type if not, exactly, to ideology, the top bureaucrat in Brussels, EU Commission President Barroso, tries his hand at a spot of scapegoating to change the subject away from the dishonesty and incompetence with which the Eurozone has handled its common currency:
This Thursday I am going to propose that individual criminal responsibility for financial players be recognised in European law,” Barroso said in comments run by Le Parisien newspaper on Sunday.
Such a move would oblige European Union nations which do not yet have such a law on their statute books to make the necessary changes.
“We have seen abusive behaviour on the markets, some of which has provoked the current crisis. We are going to regulate these practices,” Barroso said.
“Those who violate them will incur criminal penalties. That would be a first in European law and send a strong signal,” he insisted.
Given the range of laws that are already on the statute books, it’s hard to see what Barroso is referring to, but I suppose that’s not the point.