June 23, 2016
Sir, you write: “The uplifting notes in this campaign should not be ignored. One of the brightest has come from the younger generation, a majority of whom favour staying in Europe. In a digital age, the young recognise that their future is one of connectedness and participation, not separation and isolation. While older Brexit voters seem to look backwards to an imperial past, the young look forward to a global future. It is their future that is ultimately at stake” “A moment of destiny for Britain and Europe”, June 23.
But you have insisted on keeping mum about the fact that current bank regulations, with its risk-weighted capital requirements, de facto favors the refinancing of your safer past, and impedes so much of those credits to the riskier that are required for the young to have a chance of a decent future.
Sir, to me it seems you bring in the young, only when it suits you, like now when fighting Brexit.
Yes, today’s election is important, and I would have voted to stay in EU, at least if I were sure Britain would raise some hell there. But, a much more important decision than that, is whether Britain wants to go back to being the daring go-get-it nation it once was, or remain the sheepish risk-adverse country that for instance the Basel Committee now wants it to be.