European regulators agree Bradford and Bingley deal in 24 hours!
In what must be a record, and also a sign of the times, it has been revealed that only 24 hours after receiving the details of the Bradford and Bingley bailout, the European regulators have rubber stamped the deal and given it the green light to proceed. For a system which is wrapped up in endless bundles of red tape this really is a miracle to behold.
However, while we mock the way the EU works sometimes there has been a change in attitude over the last couple of weeks. After a period of relative quiet and little comment on the worldwide slump the EU has come to the fore over the last few days. Central bank intervention organised with the likes of the US and the UK has shown a united front in the face of the problems around the world. There are also rumours emerging from France regarding a possible European bailout plan but this has not been confirmed as yet.
Maybe the EU will step up to the plate over the next few days, weeks and months and show a resilience and power which few thought the regime possessed. As well as hopefully assisting the EU group of members we could see the EU authority step up to the top table and really become a force around the world.
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