Boris Johnson encountered stiff opposition in Brussels yesterday as he set out to soften European regulations on hedge funds.
London’s Mayor was told by the leader of Europe’s Socialists that the City was getting off lightly in a draft directive on alternative investment fund management and that Britain’s Conservatives lacked the clout to influence the legislation as it passed through the European Parliament.
Now I'm sure this is how Boris and the Conservatives would like this reported. Those nasty, pro-European socialists want to destroy Britain with regulation and we're opposing that.
One little problem: The Conservatives in the European Parliament voted for this directive.