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EU hits iceberg of its own making

Christopher Booker explains how EU regulations - in particular "mark-to-market" - have led to the economy hitting a gigantic iceberg.

Janet Daley dissects the EU response to the financial crisis.

The Telegraph's photo of "the masters of Europe" is telling. Would you want them directing you to the lifeboats?

Britain, if it were not being dictated to by the EU, and if it were not being governed by people with no real business experience, might never have hit the iceberg.

This is also an American crisis, and it was caused by the same type of uninformed regulators, grandiose business investors and home-owners hoping to make a profit from rising house prices.

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