Beware of EU-like harmonisation of laws
Posted by Ivo Cerckel on September 18th, 2008
There are two ways to achieve harmonisation.
One way is to make it easier for financial institutions to provide cross-border financial services.
The other way, the way of the European Union (EU), is to make it more difficult for financial institutions to provide cross-border financial services. This is then being done in the name of the so-called protection of the interests of users of the services (and third parties).
It is imperative that the GMU opts for the first way to do it.
But wait a moment ….
We are now in the FreeGold era.
The fraudulent fractional-reserve-banking system is now over.
Anyway,
the GMU should make it easier for financial institutions to provide cross-border FreeGold financial services.
Monetary Union Agreement a Significant Progress
Jose Franco
18 September 2008
http://www.khaleejtimes.com/DisplayArticleNew.asp?col=§ion=business&xfile=data/business/2008/September/business_September593.xml
SNIP
UAE Central Bank Governor Sultan bin Nasser Al Suwaidi said last month that the monetary union would be implemented in three stages, and that he would be happy to see the first two done by 2010.
The first and second stages would reduce or even eliminate the cost of the exchange cross-rates as well as realise the free capital flows between the Gulf countries. The last one would involve the implementation of similar laws among the Gulf countries.
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