Just One Square Mile

I knew all politicians were corrupt, I just couldn’t say it out loud.

English: David Cameron's picture on the 10 Dow...

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I kept my pronouncements down to only 50% of them or at worst 90% but not all surely.

I even naively believed that UK politicians were possibly less corrupt than those I have the privilege of being in close proximity to, despite sleaze, despite allowances scandals and false second home claims.

I thought they weren’t in the pay of the corporations in the same way that American politicians are who should really wear clothes like Formula One drivers just so we can see who their sponsors are.

In my heart of hearts I thought that there may be some who were in it for the good of the people who stupidly vote for them but the reality was I knew that this wasn’t the case.

Then on Thursday the 9th of December 2011 David Cameron convinced me that there is no hope for the current political system. Not only in the UK but everywhere. It is rotten to the core.

What did he do?

Well actually he did what he had to do.


It would have been his own political suicide to support the lack of representation that the Merkozy axis were trying to force through the European summit. He couldn’t support it because his own party would have got rid of him and in double quick time too. The Conservative party is actually run by people who think the Germans still dress in jackboots and are occupying France so no change there.

So what’s my problem?

English: The City of London skyline as viewed ...

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The reason he has refused to sign is to protect the City of London.

The Fucking City of London.

The people with the bonuses that are 100 times higher than your annual salary.

The Hooray Henrys who wouldn’t know what a credit default swap was if it came up and started smacking them around their hideously, unlovely chops shouting “I am an unregulated financial vehicle used for making great short term profits and creating bonuses for idiot bankers who think they own the world”

The self same people who caused the financial crisis in the first place.

The same City of London whose bail out cost the country more than they have supposedly earnt the country over the last decade through their tax receipts.

The City of London that represents one square mile of a country comprising 137,745 square miles (Including Northern Ireland). Juts one square mile protected.

Cameron protected the interests of the UK my arse!

He protected the interests of his Old Etonian mates who have a position in the City. His paymasters in the City. The source of his Party’s funds.

He couldn’t give a flying fuck about the country’s interests in this particular case because those interests are totally relegated to an irrelevance behind the need to protect his own position and make sure that the City can continue to screw the 99.9% of the country who don’t work there as long as it makes them a short term profit.

As I said. It’s not corrupt, it just stinks.

Fuck it! It is corrupt.

Related Reading:

Look at this comment from the Guardian. My bolding! The second point is the key.

Yet this is ultimately not the failure of one politician but of a culture and a system. Britain’s true national interest has become the prisoner of three inexorable forces. The first is the failure of the misconceived euro project, which put the politics of European Union ahead of the economics, and which might perhaps have been better constructed if Britain had had the instinct to engage.

The second is the dominance of the financial sector within the British polity, and the destruction of so much manufacturing, which have resulted in the obscenity of a prime minister being compelled to represent the finance interest as the national interest.

And the third is the destructive Europhobia of the past 35 years, which “fed by the rightwing press, the financial sector and political parties that were terrified of offending either of them” has fanned a mood of contempt towards everything about a European project with which Britain should be fully engaged rather than sneering uselessly on the sidelines.


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  1. It is of course inevitable that a Spanish based British socialist – who now as a consequence of Cameron’s common sense move probably has to take a Spanish passport – wouldn’t get it.

    Was it about the square mile? Nope, Cameron supports a Tobin tax at a global level: the EU treaty just addresses a Tobin tax at EU level at best

    Was it about politic? Both the Merkozy dual face elections in 2012, of which the one in France seems inevitable that half of Merkozy will be shot in a ballot box.

    No, it was about money, and who controls it in a flat line EU economy that needs a shot in the arm. Cameron applied one of Thatchers earliest and most simple concepts: the economics of the house wife. The city creates £53Bn in annual UK tax revenues – yes, not as much as it did, and an amount that will take over 10 years to pay back its bailout debts. The treaty proposal would have seen half of that flowing to Brussels. Secondly, what that money was spent on would have been decided by the leather clad Germans – ah, sorry, their unelected banker representatives in Brussels. And thirdly, that money would have been spent on supporting what now seems like a failed Euro currency, which will now inevitably breakdown.

    Sarkozy has made a series of public speeches over the past 18months proposing a smaller core EU of say a dozen countries which have a closer political and economic union. Within this union, there would be free trade – yes – but also protection barriers from “economies who do not apply our reasonable people levels of support”. In other words, trade barriers. This plays wonderfully to the French electorate, of whom less than a third want him as President for a second term.

    I am not in any way a supporter of Cameron, but have this morning concluded that I woke up by getting out of the wrong side of the bed. I currently find myself in the same political camp as the moppy London philanderer and Peter Oborne. We also happen to be here with all the Tory Eurosceptics, the soft EU middle lead by Heseltine, and all the thinking bits of the Liberal Democrat party. I don’t think Cameron is bright enough to create such an alliance, but Sarkozy’s need has created a Thatcher-esque national hero out of him. Its also through choice placed Red-Ed Milliband in the same room as Sarkozy: talk about shooting yourself in the foot!

    However, in closure, here’s a thought: while Cameron in only the most extremist views could possibly be concluded to have protected his mates in the city, what did Merkozy do over the past two days to solve the Euro debt crisis? Honest, if you add that to the number of millimetres devoted to that subject in the draft new inter-governmental agreement, you won’t need a number bigger than zero. That’s just frankly missing the point Merkozy, and scary for everyone

    • Ian, I couldn’t have put it better. an excellent understanding of the politics and economical situation we all find ourselves in.

    • However much I respect your opinions Ian here I think you are reading it wrong. Like you I think he had no choice. What annoys me is why he did it. He should have been taking those in the Euro and EU who had doubts along with him and getting an actual solution to the problems not taking his ball home because he can’t play centre forward. 

      Remember the only reason that the UK is not in the same “merde” is because Gordon Brown allowed the pound to devalue in October 2008 by 30% against the Euro increasing the UK’s export markets exponentially. (By the way I give Brown no credit for doing that, he had no choice just like Cameron had no choice)

      • Lets state what we agree on:

        1. There needs to be stronger regulation around the banks, a Tobin tax, and until the debts are cleared that kept them afloat, some additional taxes on bankers: its a question now of timing, which it should have been done by now; it will now not come in before 2013. My only concern long term is what politicians will spend a large pot of interest accruing money on? If they get a loan from it to spend it on hospitals, schools, etc, then when the next bank fails they can hardly claim not to be the last lender of choice
        2. Europe is a good thing: we – the UK – needs to be part of that
        3. Cameron has a problem in his own party: the Euroscpetic right would be happy to be with UKIP and out tomorrow

        Its the why he choose what he choose, and when that we disagree on.

        Cameron made it clear going in what his priorities were: no more powers to Brussels, and control of the City to remain in Britain’s interest – note on the latter, not control.

        If the EU treaty had gone ahead as proposed, then the £53Bn of tax presently raised from the City would have risen by around £24Bn: so a total of £77Bn. If Cameron had got his concessions on Thursday, 2/3rds of that would have flowed to Brussels. Quite how he would have got this deal past Westminster, let alone stayed in control of his own party is his own thought, but that is what he was willing to sign. Secondly, where would George Osborne have found the new £24Bn gap in his fiscal plan, that would have resulted in an additional £100Bn of borrowing by 2015?

        So, why wasn’t that possible? Sarkozy has an electio in 2012, and needs some fresh meat on his polling proposal. In the past 18montsh, his agenda to stabailise his 1/3 positive voters has been one of French control of a smaller EU. This would sit behind legislation that only allowed imports of “ethically sourced and manufactured goods” = trade barriers. In these speeches and in asking for examples of unethical countries, he has given examples of China, Thailand, Malaysia, etc. Yet post the last summit to save the Euro in September, where did the French ambassador fly directly to to sell Eurobond debt? That would be China, Thailand, Malaysia!

        In the room on Thursday, Sarkozy saw the opportunity to create a smaller EU. Leveraging out a big boy – Britain – achieved three things: more French control; a show to the others of what will happen if you don’t; and the start of a nucleaus of outside EU European fellows: wonder how quick the Foreign Office were on the phone to Norway and Switzerland, and soon after Ukraine and Turkey?

        So Cameron got faced with Sarkozy not wanting Britain inside the new EU, and of the deal he was prepared to offer meaning that he was in a precarious position when he returned. There was a third option: accept the treaty, and return like others to a parliamentary debate he knew that he could never win without Labour’s support – an even worse political position.

        Throwing in the veto achieved three things: that the treaty chnage became an inter-governmental agreement, that can not use EU institutions for its creation; British control of the £53Bn of tax income from the City, and Westminsters choice of when we join the global Tobin agreement; complete political stability within his own country political support.

        At some point in 2012/3, I predict the following:
        1. Due to the 30% built-in productivity defecit that Southern Europe has from within the Euro to Northern Europe, at least one country will leave the Euro, probably a PIIGS state
        2. Sarkozy and possibly Merkel won’t be in power by mid-2012. A whole new agenda will come to the table
        3. At least one of the 6 countries taking the treaty back to their parliament will exit the process. Sarkozy doesn’t want them all in
        4. A Tobin tax will come in in Spring 2013, the benefits of which will be seen for the UK 2015 election

        The veto was hence not a choice that Cameron wanted to make, or even tried to make, and certainly not for the reasons to protect his City mates. It was a political tactical choice, which has delivered a considerable boost to his own power, and a considerable challenge to the “vision” of Merkozy. All is to play for, nothing is lost or decided!

  2. Ian hit the nail on the head, couldn’t agree more. There is no reason for Britain to bow to the French-German need when it does not suit our purpose.

    Well played Cameron, the guy has more backbone than I thought.

    • If he had backbone Sally he would stand up to those in his party who haven’t got a clue rather than pandering to them by protecting the City of London over the wellbeing of his 60 million citizens

  3. As normal you have to be very careful with listening to what the political class say and what they really mean. DC had no choice but to do what he did and he had to give a reason. The reason he gave was protecting the city. That is a fair enough reason when you see what the city produces for the country in tax revenues.  However, like yourself, I and most of the population do want these financial lords brought back to reality and to play their part in a balanced economy without making fortunes when only risking our future and not theirs. I am totally in favour of a Tobin Tax but it must be Global or you will lose more than you gain.

    However, was that the real reason from DC? The last thing he wants and the country needs at the point of the European meltdown is a referendum and that was what he was trying to really avoid, but no way could he come out and say that. Of course it still may happen but it will be much further down the road and by then this fast moving disaster will have played out a bit more.

    Any referendum put to the UK people on Europe is going to result in the UK pulling away from Europe. That may or may not be the right thing to do but having that on top of the current mess the German and French have got Europe into would have had the markets in more chaos than they are. This would also have allowed the German and French powers to blame the UK for collapsing not just the Euro but the EC. I think we are all in agreement that we will see a collapse of the Euro but that is one thing the UK cannot be blamed for. I never thought I would say this but we have Gordon Brown to thank for that. It gives us a bit of freedom in this mess to attempt to sort ourselves out. If Blair had got his way we would have been in the Euro and rushing towards the cliff with the rest of these deluded idiots who through collective ” group think” are all rushing towards disaster. You just know as the disaster unfolds these fools will spend more time focusing on blaming each other, markets, banks etc than actually doing anything constructive to help.

    No winners in this game we are all going to be losers.

    • Your last sentence hits the nail on the head Peter. No winners here. Cameron becoming increasingly isolated in the last day as far as I see apart from his own party and the right wing newspapers in the UK

  4. Brilliantly put. Of course the rich fund political campaigns, deal with politicians’ business interests and so it makes sense to keep them sweet. Normally he avoids that backlash by using ‘country’ instead of ‘city’ although they’ve always meant the same thing to them. Their country is made up of all the real people in the ‘city’ and the rest of the UK is just farmland to feed them. There is a worldwide movement right now protesting this; so far they’re being dismissed as a nuisance and filthy hippies, but the rest of the world is slowly waking up to their message! Join it!

  5. The inter European debt situation is pretty much a balanced picture across the 27 treat countries – and all are over the agreed maximum Government debt versus GDP Ratio at 60%.
    If they had stuck to the rules there wouldn’t be this mess.
    For to the UK enter the Euro now is not just a political ‘no-no’ but a practical impossibility as it does not meet the basic debt ratio requirements!
    Therfore Cameron may not have walked away witrh a ‘Bulldog spirit’ …he actually had no teeth to bite with at all and was sent out in the night!
    But the most significan factor is that the UK debt is radically different picture than the rest of the EU.
    You guesed it, The UK owes the vast majority of its debt to the USA……’the special relationship’
    It is awkward for the UK as it sits uniquely with its close relations to the USA, the Commonwealth and to Europe.
    Trying to manage this is somewhat dificult….like a child trying to manage the demands of multiple divorced parents!
    So Cameron plays John Major’s OPT OUT Cards…and now there is a serious moment of truth.
    The UK is too small to have any degree of Global muscle on its own.
    The Commonwealth countries have been neglected too be of assistance now.
    The power play sits with the USA.
    The UK  has indded been set adrift.
    Short term the City of London will profiter then as the Euro establishes as a strong currency the pound will fall agaonst the dollar and the Euro.
    There’s no manufacturing to sustain the UK so reliance will be on the Financial Insitutions.
    The 1% will continue to rule a non democratic system.
    The Amercian New Model Economy introduced by Margaret Thatcher has truly failed our children…they have become the lost generation
    Isn’t this what the Occupy protests are actually about?

  6. Spot on, Graham. I read that Guardian piece too, and agreed with every word. Clegg just bit his lip and made as if to tough it out, until his party smacked him on the back of the head.

    If you’re in the club you should be helping to shape the outcome of the debate, not just looking for what you want out of things. But I expected nothing else from the Tories.