Brown Blinks

Mervyn King's reappointment as Governor affirms and continues Brown's long record as graceless; a sulky grudge-bearer. The competence of the Governor's running of the Bank and its delivery of objectives has been marred only by the removal of some of the Bank's powers in Brown's inept and power-grabbing dividing off of any central bank's functions in financial control and regulation, when he was forced to provide an independent central bank as part of the move towards joining the Euro zone in 1997. As Chancellor of the Exchequer he was determined to thwart New Labour project intentions of a smooth accession for the United Kingdom into full participation in the EU and Blair's advance to the office of EU president.

Cutting off his nose to spite his face, he ended with Blair retaining the premiership for 10 years, and the utter public shame of his meddling causing a bank run and the exposure of grossly inappropriate financial practices going unchecked for years in pursuit of obscure socialist agendas in the north east.

The presentation of the meeting between Merkel, Sarkozy, Barroso and Prodi in London as a discussion of measures to deal with financial transparency, regulation and response to the threatened (indeed effectively if not technically, arrived) recession, was the usual misrepresentation; certainly financial regulation and stability were discussed, in terms of the price of permitting Brown to save his Northern Rock face.

The European Union financial regulators will permit his bond issue which allows the pretence of a private solution to spraying £60 billion of taxpayers' money plus further guarantees over the economic and financial debacle in the north east of England. The Prime Minister of the Britain of the Nations and the Regions will deliver the United Kingdom cut and bound into the European Union, without veto, without even representation in some years, but with decorative red lines.

At least Mervyn King is good enough to ignore the insults and continue holding the fort.