Great Boris quotes

March 6th, 2013 at 4:00 pm by David Farrar

The Telegraph reports:

Rules to limit the rewards would drive well-paid financiers out of the City and harm the economy, Mr Johnson said, insisting that the plans were doomed to failure.

“This is possibly the most deluded measure to come from Europe since Diocletian tried to fix the price of groceries across the Roman Empire,” Mr Johnson said.

The last Roman ruler to persecute Christians, Diocletian brought stability to the empire after the chaotic third century. In 301AD, he passed his edict on prices, an unsuccessful attempt to stop inflation by imposing maximum prices on common goods.

I like a politician that knows his history.

The mayor’s comments put pressure on David Cameron to water down the new bonus rules, agreed provisionally in Brussels this week.

Under them, annual bonuses will not be allowed to exceed a banker’s salary, starting next year. Bonuses of twice annual salary will be allowed if shareholders approve them.

Oh, why stop there. Let’s also pass a law saying account executives can’t have commission in excess of their base salary.

Supporters of the cap say it will discourage bankers from pursuing the sort of high-risk deals that helped cause the financial crisis. Opponents point out that hedge funds, private equity companies and other financial firms are unaffected.

Mr Johnson said the rules would only harm Europe.

“Brussels cannot control the global market for banking talent. Brussels cannot set pay for bankers around the world,” he said.

“The most this measure can hope to achieve is a boost for Zurich and Singapore and New York at the expense of a struggling EU.” Mr Johnson added: “People will wonder why we stay in the EU if it persists in such transparently self-defeating policies.”

Well there will be a referendum in 2016, if the Conservatives win re-election.

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8 Responses to “Great Boris quotes”

  1. simonway (387 comments) says:

    Let’s also pass a law saying account executives can’t have commission in excess of their base salary.

    Well, if you insist.

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  2. All_on_Red (1,584 comments) says:

    I really cant understand why the UK stays. They get little from the relationship except expensive restrictive legislation and it costs them a fortune to fund all those ruling Committees which are basically a non elected government in Brussels telling them what to do.Most of the UKs exports go elsewhere and thats increasing as the EU declines. They should just set up Free Trade Agreements and be done with it ala Switzerland.

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  3. SPC (5,643 comments) says:

    Is this the same Boris who was once the great Oz?

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  4. SPC (5,643 comments) says:

    All_on_ Red, a free trade agreement would be better for the UK, this option is the price they pay for being in the EU and meddling in its affairs – that’s a two way street.

    Being in the EEC/EU was the British way of continuing its long standing European policy – getting involved in balance of power politics there to prevent a threat emerging from the continent.

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  5. krazykiwi (9,186 comments) says:

    Is Boris a future UK PM?

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  6. krazykiwi (9,186 comments) says:

    SPC, the UK could do a lot of free trade negotiations with the $NZ100m per day that they send to Brussels!

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  7. AG (1,827 comments) says:

    Well there will be a referendum in 2016, if the Conservatives win re-election.

    Because Graeme Edgeler obviously is busy elsewhere, may I point out that the Conservatives didn’t “win” the 2010 election? Or, if they “win re-election” in the same way that they “won” in 2010, there will be no referendum as neither the Liberal Democrats nor Labour will agree to it.

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  8. gazzmaniac (2,307 comments) says:

    krazykiwi – it’s funny how someone who appears to be a blithering idiot (his words, not mine) is probably the smartest politician in the UK at the moment.
    I hope he does well – it’s a refreshing change from the super-polished politician you usually get

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