27/1/2014: Two Reforms, One Conclusion

Two headlines about EU policymaking, one conclusion:

EU audit reform reduced to 'paper tiger' : http://euobserver.com/economic/122815 in which the EU 'reforms' of the rules for financial audits are shown as a 'paper tiger', "unable to break up the dominant position of the world's four biggest audit firms."

EU bonus cap to have little impact on bank pay : http://euobserver.com/economic/122852 in which Fitch explains why "EU's new bank bonus rules are unlikely to have much effect on executive pay".

And the one conclusion is: for fake reforms with no teeth, tune into the EU policymaking post-crisis…

13/9/2013: EU Leader Asks for Self-Censorship from the EU Auditors

If anyone needs a proof that EU elites are intrinsically incapable of accepting open, transparent & properly structured democratic governance, here it is: an EU President who seemingly explicitly advocates suppression or manipulation of facts to serve ideological purpose. This goes beyond simply paying for propaganda news channels and advertorial 'museums' or carrying out a calendar full of questionable in value activities at the expense of taxpayers. Europe's President now demands suppression of disclosure and spinning of reports by EU auditors. In effect we have a man who confuses executive power for absolute power and has a blurred notion of the role of audit in any society or institution.

Stunning admission by a senior EU leader of his innate disdain for checks and balances in the system he allegedly serves.

http://www.telegraph.co.uk/news/worldnews/europe/eu/10306461/EU-auditors-must-tone-down-criticism-of-Brussels-spending-says-Herman-Van-Rompuy.html