Is there some sort of pathological term for people who simply cannot resist the overwhelming desire to fiddle with and meddle with and corrupt everything around them? If not, we need to invent one and fast.
Another draft Directive is formenting in the cesspit of Brussels and this time it’s pensions< that they are pawing at with their oily little hands.
“Spanish officials were trying to insert a clause that would limit the amount of equities that pension schemes can hold. The EU directive could become UK law within as little as two years.”
British pension funds typically invest some 70% of their funds in equities and, if this law passes (Did I say ‘if’? I mean ‘when’) they would have to drastically reduce this figure to bring Britain into line with many European countries where such investment in strictly limited by national law.
But this is not madness, it is cold, hard method. The main alternative to equities in funded pension scheme portfolios are long-term financial instruments such as government bonds and, by a simple extension, EU bonds.
Thus the desire of Eurocrats to control constituents’ economies by means of Frankfurt interest rates and fiscal harmonisation can be consolidated: Euro-peons will be forced to tie their destinies in retirement directly to the success or failure of EU-wide economic hegemony. The law will have the effect of making it impractical for most employers to run their own schemes and will therefore channel billions of funds into the hands of a few crypto-statist financial institutions which are easier for Brussels to push around (behind the fig-leaf of ‘co-operation’).
After a working life governed by EU regulations about hours, conditions, pay rates, vacation entitlements, coffee-temperature, leisure time and just about every other aspect of human interaction imaginable, our descent into a longed-for tranquility of old-age will be managed (and mangled) by those same ubiquitous, inescapable Eurocrats.
I am beginning to hope that there is no such thing as a life beyond death otherwise the buggers will find a way to torment us there as well.
Just say NO to superstatism!
