Posted by: arkachips | March 29, 2009

new financial regulation HQ and nuclear auction

Interesting article, especially re the EU financial regulation entity that could be in the cards –

“THERE appears to be a growing consensus that we need a new EU financial regulatory body….If a new European regulator, responsible for cross-border regulation, was based on the Continent it would erode London’s status as a financial centre and chip away at the powers of the Financial Services Authority. It is a threat that this country can do without and, when Gordon Brown plays centre stage this week at the G20 summit, he should start lobbying hard to ensure that our City lands the prize.”

And re the nuclear plant building auctions that are in motion –

“For the past fortnight, the government has quietly run an auction that will decide where new nuclear plants are built, and who will build them….bidding has reached £200m….interested parties are nearly all continental power companies, a sad reflection on how there is no longer a British champion in the sector. They have two opportunities a day in which to submit bids online, and the offers must go up in increments of £5m. If there is no bid for more than 24 hours, the auction is over. ”


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