Tory in "making sense" shocker.

Today we have a rare instance of Boris Johnson almost making sense. "Boris Johnson, the Mayor of London, said yesterday that European plans to regulate the financial services sector threatened to drive hedge funds out of London and Europe, even though they were "blameless" for the crisis."

Too bad he's a buffoon and tories can't be trusted.

The Mayor called on Lord Mandelson, the Business Secretary, and the Government to help him to resist. However, Lord Mandelson, who spoke immediately after Mr Johnson, said that it was in Britain's best interests to co-operate with Europe.

Because that's worked so well so far.

"We've got to be involved in the regulation. We won't influence EU policy by cutting ourselves out of Europe.

We won't influence EU policy by engaging in "Europe" either.

I hope that's a message Boris takes to his colleagues," he said, adding that London must stay alert to competition in the rest of the world and stay ahead of the curve. He added: "Cultural change in the boardrooms and back offices will need to take place. Old-fashioned banking needs to return to the City."

What? like before the EU inspired FSA?