It’s risky choice for the interests of those British banks and hedge funds, backed by the Murdoch press, in particular, who are calling for Brexit. They know that the deal Cameron negotiated pathes the way for Michel Barnier’s planned bail-in program for the European banking sector, with no British veto on financial regulation, and that the likes of Barclays, RBS and TSB will likely be first in line for bail-in. That means that shareholders and creditors will lose out this time rather than being bailed out as in 2008. What is really interesting about this is that a section of the British elite, led by Cameron and Osbourne, accepts the demise of these British financial interests, that they accept the inevitable. What remains is a global reset, a new global financial system which is no longer controlled by the West, and the refoundation of the financial system on a new basis. It is not hard to see why there has to be a referendum on this revolution even though the stakes are not being explained to the British people.
Boris Johnson
19th February, 2016
Are you frit? Are you frightened? Have they spooked you yet? It is now obvious that the Remain campaign is intended to provoke only one emotion in the breast of the British public and that is fear.
In These New Times 