When the British PM arrived to the EU's Brussels summit just to say he wasn’t going to join in, he was “going to a gunfight with a knife,” financial analyst Max Keiser told RT.
“In real terms, I see the British economy suffering tremendously, because they’ve totally isolated themselves from the rest of the global financial system by, again, protecting their own cadre of fund managers and completely lax regulatory environment,” Keiser said.
“Let me repeat, MF Global – the Jon Corzine billion-dollar scandal – went through London. AIG, a multi-billion dollar scandal, went through London. The Lehman Brothers Scandal went through London. It is the world’s capital of fraud. David Cameron knows that. That’s who pays for his re-election campaign: he’s financed by bank frauds. That’s who he protects. Now he wants the world to finance the City of London while at the same time he’s not going to participate in the overall Euro project. It’s not going to work. This is his death sentence.”
It's a suicide move by Cameron, Max Keiser concluded – one which "will finish his Prime Ministership.”
And while Britain’s refusal to yield some of its fiscal autonomy to Brussels may prove perilous to the nation itself, Keiser says Germany will come out on top no matter what.
“Germany is benefiting from a low Euro, in fact there is more peripheral damage, because they’re a huge export business. Or, if there’s some kind of federalization that will occur, they will be running it out of Berlin. So Germany holds the cards here. And David Cameron, again, is way out-classed when he goes and talks to Merkel.”